Ring-fencing of rental losses
For rental properties that make losses, owners can no longer offset those losses against other sources of income such as salary or wages.
However, owners can carry those losses forward and use them against future income or profits from that property.
If you own more than one rental property, you can choose to offset deductions for a specific rental property against income from other rental properties in your portfolio, essentially calculating your overall profit or loss across your portfolio. Or you can elect to use a property-by-property basis.