Benefits for Granny Flats in Federal Budget

The 2020 Federal Budget included a much welcome announcement for families considering the build of a Granny Flat.

The federal budget will provide a capital gains tax (CGT) exemption for granny flats where they’re used by family members.

Currently in regards to capital gains tax, a homeowner may have to pay CGT on a granny flat when they sell their home, even if it’s used by a family member such as an elderly parent or the owners children.

If you’re considering building a Granny Flat on your property to house a family member, this could make it a lot more attractive.

Phone Hi-Tech Homes on 02 4774 8388 for more information.

 

Click for more on exempting granny flat arrangements from capital gains tax

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