Macro Insights
Policy briefs and budget analysis for Australian property investors.
Policy Brief — May 2026
What Counts as a New Build Under the Negative Gearing Changes?
New Build Definition · Supply-Additive Test · 2026–27 Budget
Investr_NewBuildEligibility_May2026.pdf
3 pages · Referenced to Treasury (2026), Table 2
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- The supply-additive test explained — what it means and why it matters
- Treasury's full eligible vs. ineligible comparison table (Table 2)
- The 12-month occupation rule and the first-sale condition
- Why knock-down rebuilds require a net dwelling increase to qualify
- 4 key implications for investors planning their next purchase
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nick@investr.com.au · www.investr.com.au · @investrproperty
May 2026
Negative Gearing Has Changed. Your Losses Haven't Gone Away.