Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 (138 of 2024)

Schedule 1   Build to rent developments

Income Tax Assessment Act 1997

7   At the end of section 43-145

Add:

(2) You use a part of *your area in the 4% build to rent manner if:

(a) you use the part of your area for the *purpose of producing assessable income; and

(b) that part is, or is part of, an *active build to rent development area (the eligible development ); and

(c) if the *build to rent compliance period for each of the *dwellings in the eligible development has ended:

(i) no other entity is using the eligible development, or any part of the eligible development, for the purpose of producing assessable income; and

(ii) at each earlier time (if any) at which you or another entity used the eligible development, or any part of the eligible development, for the purpose of producing assessable income and at which the eligible development was an *active build to rent development, no other entity was using the eligible development, or any part of the eligible development, for the purpose of producing assessable income.

(3) For the purposes of paragraph (2)(c), disregard use of the eligible development, or any part of the eligible development, for the *purpose of producing assessable income by providing management services.