{"id":3914,"date":"2026-05-22T15:47:20","date_gmt":"2026-05-22T05:47:20","guid":{"rendered":"https:\/\/anp-au.com\/?p=3914"},"modified":"2026-05-22T15:47:20","modified_gmt":"2026-05-22T05:47:20","slug":"2026-%e6%be%b3%e6%b4%b2%e7%a8%85%e6%94%b9%e5%be%8c%ef%bc%8c%e5%95%86%e6%a5%ad%e7%89%a9%e6%a5%ad%e6%9c%83%e5%90%a6%e6%9b%b4%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%ef%bc%9f%e7%8f%be%e9%87%91%e6%b5%81","status":"publish","type":"post","link":"https:\/\/anp-au.com\/en\/2026-%e6%be%b3%e6%b4%b2%e7%a8%85%e6%94%b9%e5%be%8c%ef%bc%8c%e5%95%86%e6%a5%ad%e7%89%a9%e6%a5%ad%e6%9c%83%e5%90%a6%e6%9b%b4%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%ef%bc%9f%e7%8f%be%e9%87%91%e6%b5%81\/","title":{"rendered":"Will commercial properties become more worthwhile investments after the 2026 Australian tax reform? Analysis of cash flow, leases, and long-term asset allocation."},"content":{"rendered":"<div class=\"qMYqUG_convSearchResultHighlightRoot\">\n<div class=\"\" data-turn-id-container=\"request-WEB:d417258e-b337-4202-a624-db7adb83ed84-4\" data-is-intersecting=\"true\">\n<section class=\"text-token-text-primary w-full focus:outline-none has-data-writing-block:pointer-events-none [&amp;:has([data-writing-block])&gt;*]:pointer-events-auto R6Vx5W_threadScrollVars scroll-mb-[calc(var(--scroll-root-safe-area-inset-bottom,0px)+var(--thread-response-height))] scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]\" dir=\"auto\" data-turn-id=\"request-WEB:d417258e-b337-4202-a624-db7adb83ed84-4\" data-turn-id-container=\"request-WEB:d417258e-b337-4202-a624-db7adb83ed84-4\" data-testid=\"conversation-turn-10\" data-scroll-anchor=\"false\" data-turn=\"assistant\">\n<div class=\"text-base my-auto mx-auto pb-10 [--thread-content-margin:var(--thread-content-margin-xs,calc(var(--spacing)*4))] @w-sm\/main:[--thread-content-margin:var(--thread-content-margin-sm,calc(var(--spacing)*6))] @w-lg\/main:[--thread-content-margin:var(--thread-content-margin-lg,calc(var(--spacing)*16))] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:40rem] @w-lg\/main:[--thread-content-max-width:48rem] mx-auto max-w-(--thread-content-max-width) flex-1 group\/turn-messages focus-visible:outline-hidden relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"flex max-w-full flex-col gap-4 grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal outline-none keyboard-focused:focus-ring [.text-message+&amp;]:mt-1\" dir=\"auto\" tabindex=\"0\" data-message-author-role=\"assistant\" data-message-id=\"3a7763ae-0e07-4278-9d35-40005c90886f\" data-turn-start-message=\"true\" data-message-model-slug=\"gpt-5-5-thinking\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden\">\n<div class=\"streaming-animation markdown prose dark:prose-invert wrap-break-word w-full dark markdown-new-styling\">\n<h1 data-section-id=\"13tnc9x\" data-start=\"317\" data-end=\"342\"><span class=\"ez-toc-section\" id=\"2026_%E6%BE%B3%E6%B4%B2%E7%A8%85%E6%94%B9%E5%BE%8C%EF%BC%8C%E5%95%86%E6%A5%AD%E7%89%A9%E6%A5%AD%E6%9C%83%E5%90%A6%E6%9B%B4%E5%80%BC%E5%BE%97%E6%8A%95%E8%B3%87%EF%BC%9F\"><\/span>2026 \u6fb3\u6d32\u7a05\u6539\u5f8c\uff0c\u5546\u696d\u7269\u696d\u6703\u5426\u66f4\u503c\u5f97\u6295\u8cc7\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p data-start=\"344\" data-end=\"445\">2026 \u5e74\u6fb3\u6d32\u806f\u90a6\u9810\u7b97\u6848\uff08Federal Budget\uff09\u63d0\u51fa\u591a\u9805\u91cd\u8981\u7a05\u52d9\u6539\u9769\uff0c\u5c0d\u4f4f\u5b85\u53ca\u5546\u696d\u7269\u696d\u6295\u8cc7\u8005\u90fd\u6703\u5e36\u4f86\u9577\u9060\u5f71\u97ff\u3002\u9019\u6b21\u6539\u52d5\u4e0d\u53ea\u662f\u7a05\u7387\u554f\u984c\uff0c\u800c\u662f\u6703\u6539\u8b8a\u6295\u8cc7\u8005\u672a\u4f86\u9078\u64c7\u8cc7\u7522\u3001\u6301\u6709\u7d50\u69cb\u53ca\u73fe\u91d1\u6d41\u898f\u5283\u7684\u65b9\u6cd5\u3002<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">\u5167\u5bb9\u4e00\u89bd<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/anp-au.com\/en\/2026-%e6%be%b3%e6%b4%b2%e7%a8%85%e6%94%b9%e5%be%8c%ef%bc%8c%e5%95%86%e6%a5%ad%e7%89%a9%e6%a5%ad%e6%9c%83%e5%90%a6%e6%9b%b4%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%ef%bc%9f%e7%8f%be%e9%87%91%e6%b5%81\/#2026_%E6%BE%B3%E6%B4%B2%E7%A8%85%E6%94%B9%E5%BE%8C%EF%BC%8C%E5%95%86%E6%A5%AD%E7%89%A9%E6%A5%AD%E6%9C%83%E5%90%A6%E6%9B%B4%E5%80%BC%E5%BE%97%E6%8A%95%E8%B3%87%EF%BC%9F\" >2026 \u6fb3\u6d32\u7a05\u6539\u5f8c\uff0c\u5546\u696d\u7269\u696d\u6703\u5426\u66f4\u503c\u5f97\u6295\u8cc7\uff1f<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/anp-au.com\/en\/2026-%e6%be%b3%e6%b4%b2%e7%a8%85%e6%94%b9%e5%be%8c%ef%bc%8c%e5%95%86%e6%a5%ad%e7%89%a9%e6%a5%ad%e6%9c%83%e5%90%a6%e6%9b%b4%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%ef%bc%9f%e7%8f%be%e9%87%91%e6%b5%81\/#ANP_%E7%9A%84%E7%9C%8B%E6%B3%95%EF%BC%9A%E6%8A%95%E8%B3%87%E9%82%8F%E8%BC%AF%E6%AD%A3%E5%9C%A8%E7%94%B1%E3%80%8C%E7%A8%85%E5%8B%99%E5%84%AA%E6%83%A0%E3%80%8D%E8%BD%89%E5%90%91%E3%80%8C%E8%B3%87%E7%94%A2%E6%9C%AC%E8%BA%AB%E8%B3%AA%E7%B4%A0%E3%80%8D\" >ANP \u7684\u770b\u6cd5\uff1a\u6295\u8cc7\u908f\u8f2f\u6b63\u5728\u7531\u300c\u7a05\u52d9\u512a\u60e0\u300d\u8f49\u5411\u300c\u8cc7\u7522\u672c\u8eab\u8cea\u7d20\u300d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/anp-au.com\/en\/2026-%e6%be%b3%e6%b4%b2%e7%a8%85%e6%94%b9%e5%be%8c%ef%bc%8c%e5%95%86%e6%a5%ad%e7%89%a9%e6%a5%ad%e6%9c%83%e5%90%a6%e6%9b%b4%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%ef%bc%9f%e7%8f%be%e9%87%91%e6%b5%81\/#%E7%82%BA%E7%94%9A%E9%BA%BC%E5%95%86%E6%A5%AD%E7%89%A9%E6%A5%AD%E5%8F%AF%E8%83%BD%E9%87%8D%E6%96%B0%E8%A2%AB%E5%B8%82%E5%A0%B4%E9%87%8D%E8%A6%96%EF%BC%9F\" >\u70ba\u751a\u9ebc\u5546\u696d\u7269\u696d\u53ef\u80fd\u91cd\u65b0\u88ab\u5e02\u5834\u91cd\u8996\uff1f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/anp-au.com\/en\/2026-%e6%be%b3%e6%b4%b2%e7%a8%85%e6%94%b9%e5%be%8c%ef%bc%8c%e5%95%86%e6%a5%ad%e7%89%a9%e6%a5%ad%e6%9c%83%e5%90%a6%e6%9b%b4%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%ef%bc%9f%e7%8f%be%e9%87%91%e6%b5%81\/#%E7%A8%85%E6%94%B9%E5%BE%8C%EF%BC%8C%E8%B3%87%E7%94%A2%E9%81%B8%E6%93%87%E6%9C%83%E6%AF%94%E4%BB%A5%E5%89%8D%E6%9B%B4%E9%87%8D%E8%A6%81\" >\u7a05\u6539\u5f8c\uff0c\u8cc7\u7522\u9078\u64c7\u6703\u6bd4\u4ee5\u524d\u66f4\u91cd\u8981<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/anp-au.com\/en\/2026-%e6%be%b3%e6%b4%b2%e7%a8%85%e6%94%b9%e5%be%8c%ef%bc%8c%e5%95%86%e6%a5%ad%e7%89%a9%e6%a5%ad%e6%9c%83%e5%90%a6%e6%9b%b4%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%ef%bc%9f%e7%8f%be%e9%87%91%e6%b5%81\/#%E5%95%86%E6%A5%AD%E7%89%A9%E6%A5%AD%E4%B8%8D%E7%AD%89%E6%96%BC%E4%BD%8E%E9%A2%A8%E9%9A%AA%EF%BC%8C%E4%BD%86%E6%9B%B4%E9%9C%80%E8%A6%81%E5%B0%88%E6%A5%AD%E5%88%A4%E6%96%B7\" >\u5546\u696d\u7269\u696d\u4e0d\u7b49\u65bc\u4f4e\u98a8\u96aa\uff0c\u4f46\u66f4\u9700\u8981\u5c08\u696d\u5224\u65b7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/anp-au.com\/en\/2026-%e6%be%b3%e6%b4%b2%e7%a8%85%e6%94%b9%e5%be%8c%ef%bc%8c%e5%95%86%e6%a5%ad%e7%89%a9%e6%a5%ad%e6%9c%83%e5%90%a6%e6%9b%b4%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%ef%bc%9f%e7%8f%be%e9%87%91%e6%b5%81\/#ANP_%E7%9A%84%E7%B5%90%E8%AB%96%EF%BC%9A%E6%9C%AA%E4%BE%86%E6%8A%95%E8%B3%87%E8%A6%81%E6%9B%B4%E9%87%8D%E8%A6%96%E7%B5%90%E6%A7%8B%E3%80%81%E9%81%B8%E5%9D%80%E8%88%87%E9%95%B7%E7%B7%9A%E7%AD%96%E7%95%A5\" >ANP \u7684\u7d50\u8ad6\uff1a\u672a\u4f86\u6295\u8cc7\u8981\u66f4\u91cd\u8996\u7d50\u69cb\u3001\u9078\u5740\u8207\u9577\u7dda\u7b56\u7565<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/anp-au.com\/en\/2026-%e6%be%b3%e6%b4%b2%e7%a8%85%e6%94%b9%e5%be%8c%ef%bc%8c%e5%95%86%e6%a5%ad%e7%89%a9%e6%a5%ad%e6%9c%83%e5%90%a6%e6%9b%b4%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%ef%bc%9f%e7%8f%be%e9%87%91%e6%b5%81\/#%E7%B5%90%E8%AA%9E\" >\u7d50\u8a9e<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p data-start=\"447\" data-end=\"629\">\u6839\u64da\u653f\u5e9c\u516c\u5e03\uff0c\u7531 2027 \u5e74 7 \u6708 1 \u65e5\u8d77\uff0c\u8ca0\u6263\u7a05\uff08negative gearing\uff09\u5c07\u4e3b\u8981\u9650\u5236\u65bc\u65b0\u5efa\u4f4f\u5b85\uff08new builds\uff09\u3002\u63db\u8a00\u4e4b\uff0c\u65b0\u5236\u6703\u9f13\u52f5\u8cc7\u91d1\u6d41\u5411\u65b0\u589e\u4f4f\u623f\u4f9b\u61c9\uff0c\u800c\u4e0d\u662f\u7e7c\u7e8c\u652f\u6301\u6295\u8cc7\u8005\u8cb7\u5165\u5df2\u5efa\u6210\u4f4f\u5b85\u518d\u7528\u79df\u91d1\u8667\u640d\u62b5\u6263\u5176\u4ed6\u6536\u5165\u3002\u4e0d\u904e\uff0c\u5728\u9810\u7b97\u6848\u516c\u5e03\u524d\u5df2\u6301\u6709\u7684\u7269\u696d\uff0c\u73fe\u6709\u5b89\u6392\u6703\u88ab\u4fdd\u7559\u3002<\/p>\n<p data-start=\"631\" data-end=\"846\">\u540c\u6642\uff0c\u73fe\u884c 50% \u8cc7\u672c\u589e\u503c\u7a05\u6298\u6263\uff08Capital Gains Tax discount \/ CGT discount\uff09\u4ea6\u6703\u88ab\u6539\u9769\u3002\u653f\u5e9c\u8a08\u5283\u4ee5\u901a\u8139\u6307\u6578\u5316\uff08CPI indexation \/ cost base indexation\uff09\u53d6\u4ee3\u539f\u6709 50% \u6298\u6263\uff0c\u4e26\u5c0d\u8cc7\u672c\u589e\u503c\u5f15\u5165\u6700\u4f4e 30% \u7a05\u7387\u3002\u76f8\u95dc\u6539\u9769\u53ea\u9069\u7528\u65bc 2027 \u5e74 7 \u6708 1 \u65e5\u4e4b\u5f8c\u7522\u751f\u7684\u589e\u503c\u90e8\u5206\u3002<\/p>\n<p data-start=\"848\" data-end=\"1019\">\u53e6\u4e00\u500b\u503c\u5f97\u7559\u610f\u7684\u6539\u52d5\uff0c\u662f\u5bb6\u65cf\u4fe1\u8a17\u6216\u914c\u60c5\u4fe1\u8a17\uff08discretionary \/ family trusts\uff09\u3002\u7531 2028 \u5e74 7 \u6708 1 \u65e5\u8d77\uff0c\u653f\u5e9c\u5c07\u5c0d\u90e8\u5206\u914c\u60c5\u4fe1\u8a17\u6536\u5165\u5f15\u5165\u6700\u4f4e 30% \u7a05\u7387\uff0c\u76ee\u7684\u662f\u6e1b\u5c11\u900f\u904e\u4fe1\u8a17\u7d50\u69cb\u9032\u884c\u6536\u5165\u5206\u62c6\uff08income splitting\uff09\u7684\u7a7a\u9593\u3002<\/p>\n<h2 data-section-id=\"1hnq3dg\" data-start=\"1021\" data-end=\"1055\"><span class=\"ez-toc-section\" id=\"ANP_%E7%9A%84%E7%9C%8B%E6%B3%95%EF%BC%9A%E6%8A%95%E8%B3%87%E9%82%8F%E8%BC%AF%E6%AD%A3%E5%9C%A8%E7%94%B1%E3%80%8C%E7%A8%85%E5%8B%99%E5%84%AA%E6%83%A0%E3%80%8D%E8%BD%89%E5%90%91%E3%80%8C%E8%B3%87%E7%94%A2%E6%9C%AC%E8%BA%AB%E8%B3%AA%E7%B4%A0%E3%80%8D\"><\/span>ANP \u7684\u770b\u6cd5\uff1a\u6295\u8cc7\u908f\u8f2f\u6b63\u5728\u7531\u300c\u7a05\u52d9\u512a\u60e0\u300d\u8f49\u5411\u300c\u8cc7\u7522\u672c\u8eab\u8cea\u7d20\u300d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"1057\" data-end=\"1146\">\u5f9e ANP \u7684\u89d2\u5ea6\u770b\uff0c\u9019\u6b21\u7a05\u6539\u771f\u6b63\u91cd\u8981\u7684\u5730\u65b9\uff0c\u4e0d\u662f\u7c21\u55ae\u4e00\u53e5\u300c\u4f4f\u5b85\u4e0d\u503c\u5f97\u8cb7\u300d\u6216\u300c\u5546\u696d\u7269\u696d\u4e00\u5b9a\u66f4\u597d\u300d\u3002\u66f4\u6e96\u78ba\u7684\u8aaa\u6cd5\u662f\uff1a\u672a\u4f86\u6295\u8cc7\u8005\u4e0d\u80fd\u518d\u904e\u5206\u4f9d\u8cf4\u7a05\u52d9\u512a\u60e0\uff0c\u800c\u8981\u91cd\u65b0\u56de\u5230\u8cc7\u7522\u672c\u8eab\u7684\u57fa\u672c\u9762\u3002<\/p>\n<p data-start=\"1148\" data-end=\"1280\">\u904e\u53bb\u5f88\u591a\u4f4f\u5b85\u6295\u8cc7\u8005\u63a5\u53d7\u8f03\u4f4e\u79df\u91d1\u56de\u5831\uff0c\u56e0\u70ba\u53ef\u4ee5\u4f9d\u9760\u8ca0\u6263\u7a05\uff08negative gearing\uff09\u6e1b\u4f4e\u6301\u6709\u58d3\u529b\uff0c\u518d\u7b49\u5f85\u9577\u7dda\u5347\u503c\u3002\u4f46\u7576\u5df2\u5efa\u6210\u4f4f\u5b85\uff08established residential property\uff09\u7684\u7a05\u52d9\u512a\u52e2\u88ab\u524a\u5f31\uff0c\u6295\u8cc7\u8005\u81ea\u7136\u6703\u91cd\u65b0\u6bd4\u8f03\u4e0d\u540c\u8cc7\u7522\u985e\u5225\u7684\u5be6\u969b\u56de\u5831\u3002<\/p>\n<p data-start=\"1282\" data-end=\"1324\">\u9019\u6642\u5019\uff0c\u5546\u696d\u7269\u696d\uff08commercial property\uff09\u7684\u73fe\u91d1\u6d41\u7279\u6027\u6703\u66f4\u503c\u5f97\u7814\u7a76\u3002<\/p>\n<h2 data-section-id=\"rxujy8\" data-start=\"1326\" data-end=\"1346\"><span class=\"ez-toc-section\" id=\"%E7%82%BA%E7%94%9A%E9%BA%BC%E5%95%86%E6%A5%AD%E7%89%A9%E6%A5%AD%E5%8F%AF%E8%83%BD%E9%87%8D%E6%96%B0%E8%A2%AB%E5%B8%82%E5%A0%B4%E9%87%8D%E8%A6%96%EF%BC%9F\"><\/span>\u70ba\u751a\u9ebc\u5546\u696d\u7269\u696d\u53ef\u80fd\u91cd\u65b0\u88ab\u5e02\u5834\u91cd\u8996\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"1348\" data-end=\"1418\">\u5546\u696d\u7269\u696d\u4e0d\u662f\u5b8c\u5168\u4e0d\u53d7\u7a05\u6539\u5f71\u97ff\u3002\u8cc7\u672c\u589e\u503c\u7a05\uff08CGT\uff09\u53ca\u4fe1\u8a17\uff08trust\uff09\u6539\u9769\uff0c\u4ecd\u7136\u53ef\u80fd\u5f71\u97ff\u5546\u696d\u7269\u696d\u6295\u8cc7\u8005\u3002\u56e0\u6b64\uff0c\u5546\u696d\u7269\u696d\u4e0d\u662f\u4e00\u7a2e\u300c\u907f\u7a05\u5de5\u5177\u300d\u3002<\/p>\n<p data-start=\"1420\" data-end=\"1452\">\u4f46\u5546\u696d\u7269\u696d\u7684\u6295\u8cc7\u908f\u8f2f\uff0c\u901a\u5e38\u4e0d\u53ea\u662f\u9760\u7a05\u52d9\u512a\u60e0\uff0c\u800c\u662f\u66f4\u91cd\u8996\u4ee5\u4e0b\u5e7e\u9ede\uff1a<\/p>\n<p data-start=\"1454\" data-end=\"1549\">\u7b2c\u4e00\uff0c\u662f\u6de8\u56de\u5831\uff08net yield\uff09\u3002<br data-start=\"1473\" data-end=\"1476\" \/>\u5546\u696d\u7269\u696d\u5982\u679c\u79df\u7d04\u5b89\u6392\u826f\u597d\uff0c\u79df\u91d1\u6536\u5165\u53ef\u4ee5\u8f03\u6e05\u695a\u53cd\u6620\u8cc7\u7522\u7684\u73fe\u91d1\u6d41\u80fd\u529b\u3002\u5c0d\u6295\u8cc7\u8005\u800c\u8a00\uff0c\u672a\u4f86\u8cb7\u5165\u7269\u696d\u4e0d\u80fd\u53ea\u770b\u5347\u503c\u6545\u4e8b\uff0c\u800c\u8981\u8a08\u6e05\u695a\u79df\u91d1\u662f\u5426\u8db3\u4ee5\u652f\u6301\u6301\u6709\u6210\u672c\u3002<\/p>\n<p data-start=\"1551\" data-end=\"1638\">\u7b2c\u4e8c\uff0c\u662f\u9577\u671f\u79df\u6236\uff08long-term tenants\uff09\u3002<br data-start=\"1579\" data-end=\"1582\" \/>\u6709\u7a69\u5b9a\u79df\u6236\u7684\u5546\u696d\u7269\u696d\uff0c\u5c24\u5176\u662f\u91ab\u7642\u3001\u670d\u52d9\u3001\u7269\u6d41\u3001\u96f6\u552e\u6216\u793e\u5340\u5fc5\u9700\u670d\u52d9\u76f8\u95dc\u79df\u6236\uff0c\u6703\u6bd4\u7d14\u7cb9\u4f9d\u9760\u5e02\u5834\u6c23\u6c1b\u7684\u8cc7\u7522\u66f4\u6709\u9632\u5b88\u529b\u3002<\/p>\n<p data-start=\"1640\" data-end=\"1724\">\u7b2c\u4e09\uff0c\u662f\u56fa\u5b9a\u79df\u91d1\u4e0a\u8abf\uff08fixed rental increases\uff09\u3002<br data-start=\"1675\" data-end=\"1678\" \/>\u5982\u679c\u79df\u7d04\u5167\u6709\u6e05\u6670\u79df\u91d1\u4e0a\u8abf\u689d\u6b3e\uff0c\u4f8b\u5982\u6bcf\u5e74\u56fa\u5b9a\u52a0\u79df\u6216\u6309\u901a\u8139\u8abf\u6574\uff0c\u6295\u8cc7\u8005\u53ef\u4ee5\u66f4\u5bb9\u6613\u9810\u6e2c\u672a\u4f86\u73fe\u91d1\u6d41\u3002<\/p>\n<p data-start=\"1726\" data-end=\"1824\">\u7b2c\u56db\uff0c\u662f\u5de5\u696d\u53ca\u7269\u6d41\u76f8\u95dc\u8cc7\u7522\uff08industrial and logistics exposure\uff09\u3002<br data-start=\"1775\" data-end=\"1778\" \/>\u96a8\u8457\u4eba\u53e3\u589e\u9577\u3001\u96fb\u5546\u9700\u6c42\u3001\u5009\u5132\u9700\u6c42\u53ca\u57ce\u5e02\u5916\u570d\u767c\u5c55\uff0c\u90e8\u5206\u5de5\u696d\u53ca\u7269\u6d41\u7269\u696d\u53ef\u80fd\u6703\u7e7c\u7e8c\u53d7\u5230\u6295\u8cc7\u8005\u95dc\u6ce8\u3002<\/p>\n<h2 data-section-id=\"1a44rxg\" data-start=\"1826\" data-end=\"1844\"><span class=\"ez-toc-section\" id=\"%E7%A8%85%E6%94%B9%E5%BE%8C%EF%BC%8C%E8%B3%87%E7%94%A2%E9%81%B8%E6%93%87%E6%9C%83%E6%AF%94%E4%BB%A5%E5%89%8D%E6%9B%B4%E9%87%8D%E8%A6%81\"><\/span>\u7a05\u6539\u5f8c\uff0c\u8cc7\u7522\u9078\u64c7\u6703\u6bd4\u4ee5\u524d\u66f4\u91cd\u8981<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"1846\" data-end=\"1900\">\u9019\u6b21\u9810\u7b97\u6848\u63d0\u9192\u6295\u8cc7\u8005\u4e00\u4ef6\u4e8b\uff1a\u672a\u4f86\u8cb7\u7269\u696d\uff0c\u4e0d\u61c9\u53ea\u554f\u300c\u53ef\u4e0d\u53ef\u4ee5\u6263\u7a05\u300d\uff0c\u800c\u61c9\u8a72\u554f\u300c\u9019\u500b\u8cc7\u7522\u672c\u8eab\u662f\u5426\u503c\u5f97\u9577\u7dda\u6301\u6709\u300d\u3002<\/p>\n<p data-start=\"1902\" data-end=\"2066\">\u5c0d ANP \u800c\u8a00\uff0c\u597d\u7684\u5546\u696d\u7269\u696d\u4e0d\u53ea\u662f\u770b\u8868\u9762\u56de\u5831\u7387\u3002\u6295\u8cc7\u8005\u9084\u9700\u8981\u770b\u79df\u7d04\u7d50\u69cb\uff08lease structure\uff09\u3001\u79df\u6236\u8cea\u7d20\uff08tenant quality\uff09\u3001\u571f\u5730\u7528\u9014\uff08zoning\uff09\u3001\u4f4d\u7f6e\u66dd\u5149\u5ea6\uff08street exposure\uff09\u3001\u505c\u8eca\u5b89\u6392\uff08parking\uff09\u3001\u672a\u4f86\u91cd\u5efa\u6f5b\u529b\uff08redevelopment potential\uff09\u53ca\u5340\u57df\u4eba\u53e3\u589e\u9577\u3002<\/p>\n<p data-start=\"2068\" data-end=\"2174\">\u4f8b\u5982\u4e00\u500b\u4f4d\u65bc\u4e3b\u8981\u9053\u8def\u65c1\u908a\u7684\u5546\u696d\u89d2\u4f4d\uff0c\u5982\u679c\u672c\u8eab\u6709\u7a69\u5b9a\u79df\u91d1\u3001\u826f\u597d\u79df\u6236\u3001\u5408\u7406\u571f\u5730\u7528\u9014\u53ca\u672a\u4f86\u6df7\u5408\u7528\u9014\u767c\u5c55\u6f5b\u529b\uff08mixed-use potential\uff09\uff0c\u5b83\u7684\u50f9\u503c\u5c31\u4e0d\u53ea\u662f\u4eca\u5929\u7684\u79df\u91d1\uff0c\u800c\u662f\u5305\u62ec\u672a\u4f86\u8cc7\u7522\u91cd\u7d44\u53ca\u571f\u5730\u5347\u7d1a\u7684\u53ef\u80fd\u6027\u3002<\/p>\n<p data-start=\"2176\" data-end=\"2277\">\u9019\u6b63\u6b63\u662f ANP \u4e00\u76f4\u5f37\u8abf\u7684\u65b9\u5411\uff1a\u7269\u696d\u6295\u8cc7\u4e0d\u61c9\u53ea\u770b\u300c\u8cb7\u5165\u50f9\u300d\u548c\u300c\u79df\u91d1\u56de\u5831\u300d\uff0c\u800c\u61c9\u8a72\u7528\u57ce\u5e02\u898f\u5283\uff08town planning\uff09\u53ca\u9577\u7dda\u8cc7\u7522\u914d\u7f6e\uff08long-term asset strategy\uff09\u7684\u89d2\u5ea6\u53bb\u5224\u65b7\u3002<\/p>\n<h2 data-section-id=\"g81ign\" data-start=\"2279\" data-end=\"2301\"><span class=\"ez-toc-section\" id=\"%E5%95%86%E6%A5%AD%E7%89%A9%E6%A5%AD%E4%B8%8D%E7%AD%89%E6%96%BC%E4%BD%8E%E9%A2%A8%E9%9A%AA%EF%BC%8C%E4%BD%86%E6%9B%B4%E9%9C%80%E8%A6%81%E5%B0%88%E6%A5%AD%E5%88%A4%E6%96%B7\"><\/span>\u5546\u696d\u7269\u696d\u4e0d\u7b49\u65bc\u4f4e\u98a8\u96aa\uff0c\u4f46\u66f4\u9700\u8981\u5c08\u696d\u5224\u65b7<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"2303\" data-end=\"2375\">\u5546\u696d\u7269\u696d\u6709\u5b83\u81ea\u5df1\u7684\u98a8\u96aa\uff0c\u5305\u62ec\u7a7a\u7f6e\u671f\u3001\u79df\u6236\u5012\u9589\u3001\u79df\u7d04\u8ac7\u5224\u3001\u878d\u8cc7\u8981\u6c42\u3001\u7dad\u4fee\u6210\u672c\u53ca\u5e02\u5834\u5468\u671f\u3002\u56e0\u6b64\uff0c\u6295\u8cc7\u8005\u4e0d\u80fd\u56e0\u70ba\u4f4f\u5b85\u7a05\u52d9\u512a\u52e2\u6e1b\u5c11\uff0c\u5c31\u76f2\u76ee\u8f49\u5411\u5546\u696d\u7269\u696d\u3002<\/p>\n<p data-start=\"2377\" data-end=\"2398\">\u771f\u6b63\u503c\u5f97\u7814\u7a76\u7684\uff0c\u662f\u90a3\u4e9b\u5177\u5099\u4ee5\u4e0b\u689d\u4ef6\u7684\u8cc7\u7522\uff1a<\/p>\n<p data-start=\"2400\" data-end=\"2583\">\u6709\u7a69\u5b9a\u6de8\u56de\u5831\uff08strong net yield\uff09<br data-start=\"2424\" data-end=\"2427\" \/>\u6709\u9577\u671f\u79df\u6236\uff08long-term tenant\uff09<br data-start=\"2450\" data-end=\"2453\" \/>\u6709\u56fa\u5b9a\u79df\u91d1\u589e\u9577\uff08fixed rental increase\uff09<br data-start=\"2483\" data-end=\"2486\" \/>\u6709\u6e05\u6670\u79df\u7d04\u689d\u6b3e\uff08clear lease terms\uff09<br data-start=\"2512\" data-end=\"2515\" \/>\u6709\u5408\u7406\u571f\u5730\u7528\u9014\uff08zoning support\uff09<br data-start=\"2538\" data-end=\"2541\" \/>\u6709\u672a\u4f86\u91cd\u7d44\u6216\u91cd\u5efa\u7a7a\u9593\uff08future redevelopment potential\uff09<\/p>\n<p data-start=\"2585\" data-end=\"2612\">\u9019\u4e9b\u689d\u4ef6\u52a0\u8d77\u4f86\uff0c\u624d\u6703\u5f62\u6210\u4e00\u500b\u8f03\u7a69\u5065\u7684\u5546\u696d\u7269\u696d\u6295\u8cc7\u57fa\u790e\u3002<\/p>\n<h2 data-section-id=\"tpejjd\" data-start=\"2614\" data-end=\"2643\"><span class=\"ez-toc-section\" id=\"ANP_%E7%9A%84%E7%B5%90%E8%AB%96%EF%BC%9A%E6%9C%AA%E4%BE%86%E6%8A%95%E8%B3%87%E8%A6%81%E6%9B%B4%E9%87%8D%E8%A6%96%E7%B5%90%E6%A7%8B%E3%80%81%E9%81%B8%E5%9D%80%E8%88%87%E9%95%B7%E7%B7%9A%E7%AD%96%E7%95%A5\"><\/span>ANP \u7684\u7d50\u8ad6\uff1a\u672a\u4f86\u6295\u8cc7\u8981\u66f4\u91cd\u8996\u7d50\u69cb\u3001\u9078\u5740\u8207\u9577\u7dda\u7b56\u7565<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"2645\" data-end=\"2752\">2026 \u5e74 Federal Budget \u53cd\u6620\u51fa\u6fb3\u6d32\u7269\u696d\u6295\u8cc7\u74b0\u5883\u6b63\u5728\u6539\u8b8a\u3002\u653f\u5e9c\u4e00\u65b9\u9762\u5e0c\u671b\u8cc7\u91d1\u6d41\u5411\u65b0\u5efa\u4f4f\u5b85\uff0c\u53e6\u4e00\u65b9\u9762\u4ea6\u6e1b\u5c11\u90e8\u5206\u904e\u5f80\u6295\u8cc7\u8005\u4f9d\u8cf4\u7684\u7a05\u52d9\u512a\u60e0\u3002\u5c0d\u6295\u8cc7\u8005\u800c\u8a00\uff0c\u9019\u4ee3\u8868\u672a\u4f86\u4e0d\u80fd\u518d\u7528\u820a\u6709\u908f\u8f2f\u53bb\u505a\u65b0\u6642\u4ee3\u7684\u6295\u8cc7\u6c7a\u5b9a\u3002<\/p>\n<p data-start=\"2754\" data-end=\"2773\">\u6211\u5011\u8a8d\u70ba\uff0c\u672a\u4f86\u7269\u696d\u6295\u8cc7\u6703\u66f4\u91cd\u8996\u4e09\u4ef6\u4e8b\u3002<\/p>\n<p data-start=\"2775\" data-end=\"2857\">\u7b2c\u4e00\uff0c\u662f\u6301\u6709\u7d50\u69cb\uff08ownership structure\uff09\u3002<br data-start=\"2805\" data-end=\"2808\" \/>\u4e0d\u540c\u6295\u8cc7\u8005\u4f7f\u7528\u500b\u4eba\u540d\u7fa9\u3001\u516c\u53f8\u3001\u4fe1\u8a17\u6216\u5176\u4ed6\u7d50\u69cb\uff0c\u7a05\u52d9\u7d50\u679c\u90fd\u53ef\u80fd\u4e0d\u540c\uff0c\u5fc5\u9808\u53ca\u65e9\u8aee\u8a62\u5c08\u696d\u6703\u8a08\u53ca\u7a05\u52d9\u610f\u898b\u3002<\/p>\n<p data-start=\"2859\" data-end=\"2944\">\u7b2c\u4e8c\uff0c\u662f\u8cc7\u7522\u9078\u64c7\uff08asset selection\uff09\u3002<br data-start=\"2885\" data-end=\"2888\" \/>\u4e0d\u662f\u6240\u6709\u5546\u696d\u7269\u696d\u90fd\u503c\u5f97\u8cb7\u3002\u6295\u8cc7\u8005\u8981\u61c2\u5f97\u5206\u8fa8\u79df\u91d1\u662f\u5426\u53ef\u6301\u7e8c\u3001\u79df\u6236\u662f\u5426\u7a69\u5b9a\u3001\u4f4d\u7f6e\u662f\u5426\u6709\u9700\u6c42\uff0c\u4ee5\u53ca\u571f\u5730\u662f\u5426\u6709\u9577\u7dda\u50f9\u503c\u3002<\/p>\n<p data-start=\"2946\" data-end=\"3035\">\u7b2c\u4e09\uff0c\u662f\u9577\u7dda\u7b56\u7565\uff08long-term strategy\uff09\u3002<br data-start=\"2975\" data-end=\"2978\" \/>\u4e00\u9805\u597d\u7684\u5546\u696d\u7269\u696d\uff0c\u4e0d\u53ea\u662f\u4eca\u5929\u6536\u79df\uff0c\u800c\u662f\u80fd\u5920\u5728\u672a\u4f86\u900f\u904e\u79df\u7d04\u91cd\u7d44\u3001\u79df\u6236\u8abf\u6574\u3001\u571f\u5730\u7528\u9014\u5347\u7d1a\u6216\u91cd\u5efa\u6a5f\u6703\uff0c\u9010\u6b65\u91cb\u653e\u8cc7\u7522\u50f9\u503c\u3002<\/p>\n<p data-start=\"3037\" data-end=\"3111\">\u5c0d ANP \u800c\u8a00\uff0c\u9019\u6b21\u7a05\u6539\u4e0d\u662f\u55ae\u7d14\u7684\u58de\u6d88\u606f\uff0c\u800c\u662f\u4e00\u500b\u63d0\u9192\uff1a\u771f\u6b63\u6709\u8cea\u7d20\u7684\u7269\u696d\u6295\u8cc7\uff0c\u4e0d\u80fd\u53ea\u9760\u7a05\u52d9\u512a\u60e0\u652f\u6301\uff0c\u800c\u8981\u9760\u8cc7\u7522\u672c\u8eab\u7684\u73fe\u91d1\u6d41\u3001\u4f4d\u7f6e\u3001\u79df\u7d04\u53ca\u571f\u5730\u6f5b\u529b\u3002<\/p>\n<p data-start=\"3113\" data-end=\"3223\">\u5728\u65b0\u7684\u7a05\u52d9\u74b0\u5883\u4e0b\uff0c\u5546\u696d\u7269\u696d\uff08commercial property\uff09\u53ef\u80fd\u6703\u6210\u70ba\u66f4\u591a\u6295\u8cc7\u8005\u91cd\u65b0\u7814\u7a76\u7684\u65b9\u5411\u3002\u4f46\u95dc\u9375\u4e0d\u5728\u65bc\u300c\u8cb7\u5546\u696d\u7269\u696d\u300d\u56db\u500b\u5b57\uff0c\u800c\u5728\u65bc\u662f\u5426\u8cb7\u5c0d\u4f4d\u7f6e\u3001\u770b\u61c2\u79df\u7d04\u3001\u7406\u89e3\u571f\u5730\u7528\u9014\uff0c\u4e26\u5efa\u7acb\u4e00\u500b\u80fd\u5920\u7a7f\u8d8a\u5e02\u5834\u5468\u671f\u7684\u9577\u7dda\u7b56\u7565\u3002<\/p>\n<hr data-start=\"3225\" data-end=\"3228\" \/>\n<h2 data-section-id=\"1hryk9f\" data-start=\"3230\" data-end=\"3236\"><span class=\"ez-toc-section\" id=\"%E7%B5%90%E8%AA%9E\"><\/span>\u7d50\u8a9e<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"3238\" data-end=\"3329\">\u5982\u679c\u4f60\u6b63\u5728\u91cd\u65b0\u8a55\u4f30\u6fb3\u6d32\u7269\u696d\u6295\u8cc7\u7d44\u5408\uff0c\u6216\u60f3\u4e86\u89e3\u5546\u696d\u7269\u696d\u3001\u5de5\u696d\u7269\u696d\u53ca\u5177\u91cd\u5efa\u6f5b\u529b\u571f\u5730\u662f\u5426\u9069\u5408\u4f60\u7684\u9577\u7dda\u90e8\u7f72\uff0cANP \u53ef\u4ee5\u5f9e\u7269\u696d\u9078\u64c7\u3001\u57ce\u5e02\u898f\u5283\u3001\u79df\u7d04\u5206\u6790\u53ca\u571f\u5730\u6f5b\u529b\u89d2\u5ea6\uff0c\u5354\u52a9\u4f60\u4f5c\u51fa\u66f4\u6e05\u6670\u7684\u5224\u65b7\u3002<\/p>\n<p data-start=\"3331\" data-end=\"3398\">\u672c\u6587\u53ea\u5c6c\u4e00\u822c\u5e02\u5834\u8cc7\u8a0a\uff0c\u4e0d\u69cb\u6210\u7a05\u52d9\u3001\u6cd5\u5f8b\u3001\u8ca1\u52d9\u6216\u6295\u8cc7\u5efa\u8b70\u3002\u4f5c\u51fa\u4efb\u4f55\u6295\u8cc7\u6216\u6301\u6709\u7d50\u69cb\u6c7a\u5b9a\u524d\uff0c\u61c9\u5148\u8aee\u8a62\u5408\u8cc7\u683c\u6703\u8a08\u5e2b\u3001\u7a05\u52d9\u9867\u554f\u3001\u5f8b\u5e2b\u53ca\u8ca1\u52d9\u9867\u554f\u3002<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<div class=\"pointer-events-none -mt-px h-px translate-y-[calc(var(--scroll-root-safe-area-inset-bottom)-14*var(--spacing))]\" aria-hidden=\"true\"><\/div>\n<div class=\"pointer-events-none translate-y-(--scroll-root-safe-area-inset-bottom) R6Vx5W_threadScrollVars min-h-(--gutter-remaining-height,0px) group-data-stream-active\/scroll-root:h-[calc(var(--thread-response-height)-16*var(--spacing))]\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>2026 \u6fb3\u6d32\u7a05\u6539\u5f8c\uff0c\u5546\u696d\u7269\u696d\u6703\u5426\u66f4\u503c\u5f97\u6295\u8cc7\uff1f 2026 \u5e74\u6fb3\u6d32\u806f\u90a6\u9810\u7b97\u6848\uff08Federal Budget\uff09\u63d0\u51fa [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[],"tags":[],"class_list":["post-3914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts\/3914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/comments?post=3914"}],"version-history":[{"count":1,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts\/3914\/revisions"}],"predecessor-version":[{"id":3920,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/posts\/3914\/revisions\/3920"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/media\/3919"}],"wp:attachment":[{"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/media?parent=3914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/categories?post=3914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anp-au.com\/en\/wp-json\/wp\/v2\/tags?post=3914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}