The Traps Hidden in Australia’s Granny Flat Boom

Granny flats are springing up across the nation’s suburbs as property owners convert their backyards for more living space, additional income and generous tax deductions, say financial and construction specialists. But a threefold increase in granny and “Fonzie” flats in the past five years also creates the possibility of backyard eyesores and sales of the family home, which are usually tax-free, attracting capital gains tax, they warn. Read more...