Source: New places to play in Gungahlin
The Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 and Capital Works (Build To Rent Misuse Tax) Act 2024 received Royal Assent on 10 December 2024. A legislative instrument covering initial standards for the BTR measure was made on 18 December 2024 and further legislative instruments will be made in 2025. The measure commenced from 1 January 2025.
There are some aspects of the law that may not be clear and may require administrative or interpretive guidance for those adopting the BTR laws. The ATO is aware of certain areas where stakeholders may require interpretive assistance. We are consulting to understand what guidance stakeholders require to correctly apply the laws, so we can support their participation and compliance.
We anticipate public advice and guidance will reduce the number of enquiries raised with the ATO on the BTR measure. These enquiries could range from general administrative enquiries through to private binding rulings.