All investments made before this date will not be affected by this change and will be fully grandfathered. This will mean that taxpayers will continue to be able to deduct net rental losses against their wage income, providing the losses come from newly constructed housing. From 1 July 2017 losses from new investments in shares and existing properties can still be used to offset investment income tax liabilities.
favourably references the middle class, e.g. white colar groups or the service sector