I’d like to know with the possibility of an ALP government what exactly is “new property” under their negative gearing proposals?

In Sydney you’d be lucky in the extreme to find a new property already completed as almost everything new is sold off the plan.

So this means investors are likely to be restricted to off the plan purchases and then need to tie up a 10% deposit for 18 months to 2 years before its even built. Who knows what the property market is going to be like in 2 years time or even what changes to borrowing rules that might apply.

Is there any detail as to what qualifies as a “new property”?