Hi Rookie Kaiser The aspect of the Treasurer's legislation that...

Hi Rookie Kaiser

The aspect of the Treasurer's legislation that has taken effect was that from the 14th September 2017 : Sott Morrison stated that....

"The draft legislation released today also includes an integrity measure which clarifies that, from today, MITs cannot acquire investments in residential property, except where it is affordable housing. This will prevent MITs from investing in houses, units and apartments to hold for long term rent (other than affordable housing)".

In response to this Domacom released a statement on the 22nd September 2017 to the ASX in which Arthur Naoumidis CEO said .....

"The Federal Government has introduced draft legislation which, if approved in its current form, appears to block MIT’s (Managed Investment Trusts) from investing in residential property other than for affordable housing as of 14 September 2017".

Arthur further stated that they would provide a submission to the Treasurer which closed on the 28th of September 2017 and addittional obtain external Tax advice.

You might like to ask Arthur how all this is going as he undertook to advise through the ASX when he had further clarification .

IMO I think Domacom is currently prohibited from selling units or trading existing units in any of their Residential Trusts ( save affordable housing) until further notice from the Treasurer