Income tax – implications of a residential property moving between the standard tax rules and the mixed-use asset rules

This interpretation statement considers situations where a person’s use of their residential property has changed so the property moves from being under one set of income tax deduction rules to another. It explains how a person determines which income tax deduction rules apply and the consequences of moving between the standard tax rules and the mixed-use asset rules. Two fact sheets have been included.

Accompanying the draft interpretation statement are two draft fact sheets.  The first fact sheet covers situations where there is a change from the mixed-use asset rules to the standard tax rules. The second fact sheet considers when there is a change from the standard tax rules to the mixed-use asset rules.

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