u/Conscious_Cheetah917

Can someone please explain to me after tonight’s budget?

Context - I purchased my first apartment with the 5% first home buyers in early 2024. My plan is to continue living here until about 2029/30, then use the built equity + more savings to purchase another larger property to live in long term.

If all works out, I’d like to keep the existing apartment as a rental property afterwards. The plan was it would probably be negatively geared.

Does my position mean my apartment is grandfathered and can still be negatively geared indefinitely?

Ultimately, How does my plan hold up after today’s budget announcement, and what changes/considerations do I need to make after tonight?

Thanks in advance, I appreciate it!