Property Investment After Budget 2026: Where to Deploy Capital for Australian Investors

Updated: 16 May 2026 — following the 2026–27 Federal Budget announcements on 12 May 2026. Reform settings described in this article are based on Budget papers and Treasurer's announcements and remain subject to legislation passing Parliament.

It is four days since Treasurer Chalmers handed down the 2026–27 Federal Budget — the largest proposed property tax reform Australia has seen since CGT was introduced in 1985. The legislation has not yet passed Parliament, but the announced settings are detailed enough to plan around with appropriate caveats. Negative gearing on established property bought after 7:30pm on 12 May 2026 is proposed to end on 1 July 2027. The 50% CGT discount is proposed to be replaced by cost-base indexation plus a 30% minimum tax rate. New builds are indicated as exempt. SMSFs are indicated as excluded from the negative gearing reform. Anyone who already held property at that 7:30pm moment is indicated as grandfathered for the life of every one of those Australian assets, subject to final drafting.

The investor question, plainly stated: does the same playbook that worked for Australian property investors from 2014 to 2024 still work?

The short answer is no — and yes. Under the proposed framework, property investment in Australia did not end on Tuesday. Four strategies appear to still work. Three look most affected. This piece maps which is which, walks through where each strategy plays best across the eight Australian capitals, and flags the three traps investors are most likely to walk into during the 14-month transition.

We will not re-explain the reform itself here — that work is done in our companion piece, Budget 2026: Negative Gearing & CGT Overhaul. This is the forward-looking playbook for Australian property investors. By the end you should know whether your current strategy is most affected, which of the four post-reform strategies appears to fit your profile, and what to avoid in the next 14 months.

1. What Is Proposed to Change and How It Reshapes the Investor Decision

The 60-second recap

Based on the 2026–27 Budget papers and Treasurer's announcements, the five rule changes that matter most for Australian property investors:

1. Established property bought after 7:30pm AEST 12 May 2026 is proposed to lose negative gearing from 1 July 2027. Salary offset on rental losses would end for that cohort.
2. New builds — off-the-plan apartments, knock-down rebuilds that add dwellings, and house-and-land packages on vacant land — are indicated to retain negative gearing indefinitely for the first owner.
3. The CGT 50% discount is proposed to be replaced from 1 July 2027 by cost-base indexation plus a 30% minimum tax rate for individuals and trusts. Pensioners and means-tested income recipients are indicated as exempt.
4. Complying super funds — both SMSFs and APRA-regulated funds — are indicated as excluded from the negative gearing reform. The super CGT regime (33⅓% accumulation, 0% pension) is indicated as preserved, subject to Division 296 above $3M Total Super Balance.
5. Grandfathering — anything held or under contract at 7:30pm 12 May 2026 is indicated to keep current rules for the entire holding period.

For the full rule book and the international comparison with New Zealand and Canada, see Budget 2026: NG & CGT Overhaul. All settings remain subject to legislation passing Parliament.

The three shifts that change Australian investor behaviour

Below the surface of the rule changes, three structural shifts will shape almost every post-reform investor decision.

Where the deduction lives. Pre-reform, an Australian investor could buy an established Brisbane house, run a $15,000 paper loss against a $180,000 salary, and recoup $5,850 of that loss at the 39% marginal rate. Under the proposed framework, that mechanism survives only for new builds. For established post-12-May purchases, losses would sit on the property and could only be offset against rental income from the same investment class.

Which asset works. New builds would become structurally more attractive on after-tax cashflow because they keep the deduction. Established stock would become more attractive on price (as investor demand thins) and on yield (because the buyers who remain need the cashflow to work without the tax shelter). The two segments of the Australian housing market may begin trading on different fundamentals for the first time in a generation.

How long you hold. Indexation would reward 10+ year holds — the cost base grows with inflation, so the taxable gain shrinks in real terms. The 30% minimum tax on gains would compress 3–7 year flip returns materially. Investors who used to buy, hold for two interest-rate cycles, sell, and rotate would need to rebuild that mental model.

What the economists are saying

Treasury modelling released alongside the 2026–27 Budget papers projects that house price growth will be approximately 2 percentage points slower over the next two years than it would otherwise have been — slower growth, not outright falls. Several modelling exercises from economists and policy groups have suggested impacts in the low-single-digit percentage range, sensitive to the RBA's rate path and migration flows. The Government's own factsheet, available at budget.gov.au, outlines the Treasury impact estimates in more detail.

The honest reading: under the proposed framework, the reform reshapes who buys, not whether property still works as an Australian asset. There are still tenants. There are still rents. There are still capital gains. The price of admission rises for one specific class of investor and falls for everyone else.

2. Strategy 1 — The New-Build Investor

Why this is the highest-leverage strategy on paper

Under the Government's proposed reforms, new builds would be the only purchase pathway in Australia where negative gearing is indicated as retained for first owners. That alone makes them an obvious destination for any investor whose strategy depended on a salary offset.

But it is more than just one rule. Treasury, the Prime Minister and every state planning minister have explicitly framed new builds and Build-to-Rent as the preferred policy outcome. When state planning regulations, APRA lender preferences, depreciation rules and the proposed Local Infrastructure Fund all push in the same direction, an asset class is being structurally supported — not just preserved.

Depreciation is the quieter advantage. For the first owner of a genuinely new dwelling, the 2017 second-hand restriction on plant and equipment does not apply. Full depreciation on carpets, appliances, blinds, hot water systems, air conditioning and the rest — typically $6,000–$12,000 a year in deductions for the first five years — survives the proposed reform untouched.

What qualifies (and what doesn't) under draft settings

This is where most Australian investors will get caught. The new-build exemption indicated in Budget papers is narrower than the marketing material is likely to suggest.

The granny-flat carve-out is particularly important. Our full granny flat guide still applies as a yield strategy — but under draft settings the merit is yield-only, not yield-plus-deduction. For the new-build vs established economics side-by-side, see New Build vs Established Property Australia 2026.

Where the supply is coming online

NAB's April 2026 Housing Monitor — analysed in detail in our investor breakdown — reports approximately 235,000 dwellings currently under construction nationally. State-by-state distribution by NAB's reading of ABS Building Activity data is concentrated in:

• Victoria — approximately 30% of national pipeline (per NAB analysis of ABS Building Activity). Inner and middle-ring Melbourne. Some oversupply risk in inner CBD apartments.
• Queensland — approximately 22%. Brisbane Olympic corridor, Sunshine Coast, Gold Coast hinterland.
• NSW — approximately 21%. Western Sydney growth corridors, Hunter, Illawarra.
• WA — approximately 13%. Perth metro, with a smaller but tight pipeline.

State-share figures sourced from NAB Housing Monitor April 2026. For the underlying construction-activity series, see ABS Building Activity.

Inside those broad numbers, the investor-grade vs investor-trap split is real. The Brisbane Olympic corridor and the Sunshine Coast growth zones have genuine population and infrastructure underpinning. Inner-Sydney sub-$1.5M new apartments remain structurally weak — 2024 oversupply is still working through, body corporate fees are punitive, and rental yields do not justify the entry price on most floor plates.

The four risks to manage (including construction-cost risk)

Settlement-time price risk. Off-the-plan exchange today means settlement in 2028. If the market softens 5% in the meantime — which Treasury's own modelling allows for — the bank valuation at settlement will come in below contract price. The deposit is at risk and finance can fall over. The fix: only buy from developers with track records of valuing-up at settlement, and never stretch the LVR on the assumption that the valuation will hold.

Developer concentration and construction-cost / builder-insolvency risk. Eligible new-build stock will be dominated by a small number of large developers. Recent Australian builder collapses — Porter Davis, Probuild, Metricon stress, and a long list of mid-tier collapses through 2023–2025 — have reset the risk baseline. The fix: pull last three years of developer financials, look at debt-to-equity ratios, look at delivery track record, and confirm Home Building Compensation Fund or equivalent insurance is in place. Walk away from anything that looks fragile. Insist on a fixed-price contract with limited variation rights and a sunset clause structured to favour the buyer.

Owner-occupier demand undercut. When prices soften, owner-occupiers exit the new-build market first — they have alternatives. Investor demand becomes more reliant on yield alone, and yields on new builds are typically thinner than on established stock at the same price point. The fix: stress-test cashflow using interest rates at least 1–1.5 percentage points above the current Australian investor variable rate (currently around 6.5–7.0% for principal-and-interest investor loans, with interest-only premiums on top), and assume a 4.5% gross yield as a conservative baseline.

Defect and warranty risk. New apartment defect rates in NSW (per NSW Building Commissioner data) ran above 50% on serious defect items through 2022–2024 across audited buildings. The Building Commission regimes are tightening but not yet bedded in. The fix: prefer developers with iCIRT or equivalent ratings, request defects history on prior projects, and budget a 1–2% defect-repair contingency over the first three years of holding.

Profile match and 4-step action list

This strategy fits:

• PAYG investors on $150,000+ marginal income who genuinely need the deduction
• Investors with 1–2 existing properties willing to specialise in new builds
• Buyers with 18–36 months of settlement patience

This strategy does not fit:

• Investors who need rental income inside 12 months
• First-time investors with limited deposit buffer (off-the-plan settlement risk is material)
• Cashflow-tight portfolios that cannot absorb a 5–10% valuation gap at settlement

The 4-step action list:

1. Re-baseline target submarkets to new-build inventory only. Filter Brisbane (Olympic corridor), Perth (Joondalup/Cockburn growth zones), and Melbourne (middle-ring rail corridors).
2. Pre-qualify with two off-the-plan-friendly lenders. Specialist OTP lender policies vary materially across cycles; current investor variable interest-only rates from Australian lenders sit in a broad 6.5–7.2% range. Get written pre-approval valid through to settlement.
3. Request developer financials and rental-guarantee structures from the top three developers operating in your target city.
4. Lock in a depreciation schedule provider before settlement. A properly structured schedule is worth $5,000–$10,000 a year in deductions over the first five years.

3. Strategy 2 — The Yield-First Cashflow Investor

Why "positive geared from day one" becomes more competitive

Here is the quiet insight buried in the proposed reform: a property that is cashflow-positive doesn't need the negative gearing deduction because there is no loss to deduct. The proposed cap doesn't bite. The Australian investor whose strategy was always "buy in Adelaide, hold for yield, ignore the salary offset because the rent covers everything anyway" just had their competitive position upgraded under the draft framework.

Why? Because every investor who was relying on the salary offset to make a property work — the doctor buying their fourth Sydney unit at a $20,000 paper loss because the after-tax cost was manageable — is likely to step back. That investor pool was a meaningful share of the buyer demand in the established sub-$1.5M segment, particularly in Brisbane, Adelaide and outer-suburban Melbourne. With them gone, yield-first investors face less competition exactly where they want to buy.

The negative-gearing-as-tax-shelter premium that established Australian properties carried for a decade should compress under the proposed framework. That repricing favours buyers with cash and patience.

The sub-$700K opportunity set

The SQM Research May 12 vacancy release, which we cover in detail in Saturday's research piece, tells the supply side of the story (April 2026 data):

• Adelaide — 0.7% vacancy, 1,117 vacant dwellings in Adelaide
• Brisbane — 0.8% vacancy, 2,900 vacant dwellings in Brisbane
• Perth — 0.6% vacancy, 1,138 vacant dwellings in Perth
• Darwin — 0.3% vacancy, 75 vacant dwellings in the entire city

Even as the national rate ticked up from 1.0% to 1.2% (SQM Research April 2026 release, published 12 May 2026), these four cities held. Asking rents over the past 12 months tell the same story: Hobart +15.2%, Darwin +11.3%, Brisbane +8.1%, Sydney +7.3%. For the longer read on which sub-$700K markets are attracting investor capital, see our PropTrack–Westpac Investor Report analysis.

Three yield plays worth modelling

Adelaide outer-north — Salisbury, Elizabeth, Munno Para. Purchase prices sub-$600K for solid 3-bedroom houses on 600m² blocks. Gross yields running 5.5–6.2%. Demand drivers: defence (Edinburgh RAAF base, ASC submarine program), advanced manufacturing, lifestyle migration from Melbourne. Vacancy 0.7% and holding.

Darwin. Sub-$550K entry on 3-bedroom houses in the northern suburbs (Anula, Wulagi, Karama). Gross yields 6.5–7.5% — the highest of any Australian capital. Vacancy 0.3%. Demand drivers: defence (Larrakeyah, Robertson Barracks), resources (Inpex), public service. Risk: thin market, low population growth, weather and remoteness.

Regional QLD growth corridors — Townsville, Rockhampton, Mackay. Sub-$500K entry. Gross yields 6–7%. Demand drivers: resources cycle, defence (Townsville garrison), regional manufacturing. Risk: single-employer concentration in some towns. For deeper coverage, see Regional High-Yield Markets 2026 and Positive Cash Flow Property 2026.

The yield trap and how to avoid it

High yield often means low growth. A property paying 7% gross in a town with no population and no infrastructure compounds to relatively little over 20 years. The arithmetic: $400,000 acquisition at 7% yield is roughly $28,000 of gross rent. If the property gains 1.5% capital growth annually for 20 years, you end up with around $539,000 — versus a 4% capital growth property bought at the same time worth approximately $876,000.

Yield is a starting point, not a destination. Three filter rules to avoid the trap:

1. Population growth >1% per annum over the last five years (ABS Regional Population data)
2. Owner-occupier ratio >55% of total dwellings
3. Single largest employer <40% of local jobs (avoids single-industry collapse risk)

This strategy fits:

• Self-employed and contractor Australian investors who can't easily use PAYG offsets anyway
• Pre-retirees prioritising income over growth
• Portfolio builders using 3–4 yield-anchor properties as the cash engine of a larger holding

4. Strategy 3 — SMSF Property Investment

Why the proposed reform widens the SMSF advantage

Complying super funds — both SMSFs and APRA-regulated funds — are indicated as excluded from the proposed negative gearing reform. The 33⅓% super CGT discount in accumulation phase is indicated as preserved. Pension-phase 0% CGT is indicated as preserved. The only superannuation-side overlay is Division 296, which applies an additional 15% tax on earnings attributable to balances above $3 million from 1 July 2026.

Important caveat: some technical aspects of the proposed 30% minimum CGT tax for complying super entities remain unclear pending legislation. Several leading Australian tax law firms have noted ambiguity in the Budget papers as to whether the minimum tax is intended to apply to super funds. Treat the SMSF advantage as directionally favourable but subject to final drafting.

The likely net result, if the framework is enacted broadly as announced: the after-tax IRR gap between a personal-name property and an SMSF property widens from 1 July 2027 on new acquisitions.

The single-number comparison (illustrative)

For a $500,000 Australian property, held 10 years, $200,000 nominal gain at exit (illustrative example):

Illustrative only — actual tax outcomes depend on inflation assumptions, holding period, ownership structure, marginal tax rate at sale, super contribution history, Division 296 interaction, and the final legislative form of the reform. Confirm with a registered tax agent before relying on any specific scenario.

Profile match and what to do next

This strategy fits Australian investors with $200,000+ super balance, 10+ years to retirement, and stable contribution capacity. Two near-term moves worth considering in the next 90 days:

1. Review the fund's property allocation if approaching the $3 million Division 296 threshold. Model whether SMSF still beats personal-name post-reform after Div 296 tax.
2. Bring forward planned acquisitions before SMSF lender policy tightens. Specialist lenders are currently active at 60–70% LVR; that window may narrow as post-reform SMSF demand rises.

For the full mechanics: SMSF Property vs Personal Name · SMSF Borrowing & LRBA Strategies · SMSF Compliance Checklist · Division 296 Action Guide · SMSF Property Investment Service.

5. Strategy 4 — The Grandfathered Long-Hold

Why grandfathering may be worth more than it looks

Anything held, or under contract, at 7:30pm AEST on 12 May 2026 is indicated to retain current negative gearing rules and the 50% CGT discount for the entire life of the asset. As described in the Budget papers there is no sunset clause and no review provision, though grandfathering details remain subject to final legislative drafting.

Importantly, grandfathering as currently described appears to be one-time and non-transferable: selling the asset and buying a replacement does not inherit the old rules. That structural feature, if enacted, changes the optimal behaviour for every Australian investor who already held property on Budget night.

A 2025-purchased Australian investment property held until 2045 may turn out to be one of the most tax-advantaged residential property asset classes ever to have existed in this country — provided the proposed grandfathering arrangements survive legislation.

The "don't trade — extract" framework

Under the proposed framework, the default behaviour for grandfathered Australian investors should be: don't sell. Extract equity instead.

Equity release tends to beat sale. If you need capital to deploy into Strategy 1 (new-build) or Strategy 3 (SMSF), refinance an existing grandfathered IP and pull the equity. The original asset keeps its grandfathered status (subject to final drafting), the new deployment gets the new rules — and you avoid the CGT trigger that selling would create.

When selling still makes sense

Three narrow scenarios where selling a grandfathered asset may still be the right call:

1. The asset is genuinely investment-broken. Chronic vacancy, structural defects, declining suburb, body-corporate disaster. No tax advantage compensates for an asset bleeding capital.
2. Concentration risk. One property is more than 50% of your portfolio. The grandfathering benefit doesn't override the diversification need.
3. Funded retirement liquidity need. Grandfathering is a tax strategy, not a life strategy.

For the full sell-vs-refinance-vs-hold framework, see Investment Property Exit Strategy 2026.

6. The Hidden Impact: Borrowing Power Under the Proposed Framework

The headline reform changes how negative gearing and CGT work. The second-order effect that gets less attention — and that may matter more for portfolio-builders — is what happens to Australian investor borrowing capacity.

Today, most Australian lenders "add back" the tax benefit of negative gearing into serviceability calculations. A $20,000 annual paper loss against a 39% marginal rate is treated as roughly $7,800 of additional after-tax income for serviceability purposes. Under the proposed framework, for established properties bought after 7:30pm 12 May 2026, that add-back logic breaks — lenders would lose the basis to credit the tax benefit because the deduction no longer flows through to salary.

Three implications worth modelling:

• Lower borrowing capacity for investors who built their leverage stack on negative-gearing add-backs. The magnitude depends on each lender's current treatment.
• APRA serviceability stress-test interaction. The current 3-percentage-point buffer on assessment rates already restrains investor borrowing. Lower starting incomes (no NG add-back) plus the same buffer produces a meaningfully smaller maximum loan. See our APRA DTI rules guide for the underlying framework.
• Debt-to-income (DTI) policy. APRA activated DTI macroprudential settings in February 2026. If household credit data shifts post-reform, APRA could tighten further — another reason to lock in any planned refinance or new lending in the next 12 months, before policy responds to the data.

The honest message to portfolio-builders: even if the property maths still works post-reform, the finance maths may not. Re-run your DSCR and serviceability assumptions now, on a no-NG-add-back basis, before committing to any new acquisition.

7. Build-to-Rent and Institutional Capital: The Structural Story

The reform is, in effect, a tax-policy nudge toward Build-to-Rent (BTR) and institutional rental supply. The Government has explicitly framed BTR as a preferred outcome and the existing concessions — widely held managed investment trust (MIT) concessions, the 15% MIT withholding tax rate for foreign capital invested in qualifying BTR developments, and state-level land-tax concessions in NSW, Victoria and Queensland — remain in place.

Three things follow:

• Institutional capital rotation. Super funds (AustralianSuper, Aware Super, UniSuper), REITs (Mirvac, Stockland, GPT) and offshore players (Greystar, Hines, Sentinel) have been deploying into Australian BTR through 2023–2025. Post-reform, the relative case for institutional rental ownership versus mum-and-dad investors strengthens further.
• REIT and listed-property participation. Listed Australian REITs with residential exposure (Mirvac Living, Stockland's communities pipeline) become a way for Australian retail investors to access the structural tailwind without taking single-asset risk.
• Rental supply implications. Institutional supply is good for renters but slow to deliver. Reasonable estimates put institutional BTR completion at high single-digit thousands of dwellings nationally in 2026, ramping to 20,000+ annually by 2028. Important on the margin, but not a substitute for mum-and-dad rental supply at scale.

The investor takeaway: BTR is not a strategy a typical Australian retail investor pursues directly, but the institutional rotation it drives is one of the most important structural stories for the next decade. Holding REIT exposure that captures the BTR rollout is a legitimate hedge against the direct-property reform impact.

8. What Happens to Foreign Capital?

Foreign capital flows into Australian residential property mostly through three channels: FIRB-approved direct purchases (typically new builds, given the established-property restriction), MIT-structured commercial investment, and developer financing into the residential construction pipeline. The proposed reform interacts with each:

• FIRB foreign-buyer appetite for new builds is likely to increase, not decrease. Foreign buyers already mostly limited to new dwellings now compete in a market where domestic new-build demand is also rising. Pricing pressure on new-build off-the-plan stock in Sydney, Melbourne and Brisbane CBDs is plausible. Australian investors competing for the same stock should expect tighter availability and firmer pricing on prime locations.
• BTR institutional capital flows from offshore investors (US REITs, Singapore funds, European pension capital) are likely to accelerate. The 15% MIT withholding rate concession on qualifying BTR remains in place, and the proposed reforms strengthen the relative attractiveness of institutional rental ownership versus retail.
• Offshore developer financing for residential construction has tightened since 2023 as global rates rose. The proposed reform is broadly supportive for developers focused on supply — particularly those qualifying for the Local Infrastructure Fund — but does not directly affect the cost of offshore capital.

The migration-linked demand channel is the broader uncertainty. Net overseas migration is projected at approximately 280,000 for 2026 per Treasury Budget 2026 papers — still elevated by historical standards. If migration moderates faster than projected, the BTR demand thesis softens; if it surprises higher, the institutional rotation accelerates.

9. Two Investor Profiles Through the New Playbook

Profile A — Sarah, 34, $145,000 income, no property yet, $90,000 deposit

Pre-reform, Sarah's default move would have been an established Brisbane house, negative-geared, with the plan to hold 12 years and benefit from the 50% CGT discount on exit.

Under the proposed framework, the maths shifts. An established Brisbane house bought in June 2026 would lose its NG benefit from 1 July 2027 — Sarah's paper loss wouldn't offset her salary. The CGT discount on the gain accrued from 1 July 2027 would change to indexation. The post-tax IRR compresses.

Her best fit now: rentvesting plus a new-build IP, deployed in two stages.

• Stage 1, over the next 12 months: continue renting, deploy the $90,000 deposit into a new-build IP off-the-plan in a Brisbane Olympic-corridor or Sunshine Coast location. NG remains under proposed framework. Depreciation is high in early years. Post-tax cashflow works.
• Stage 2, in 3–5 years once equity has built: refinance and acquire either a second new-build IP or a yield-first asset in Adelaide or Perth.

For the full rentvesting framework, see Rentvesting Strategy Australia 2026.

Profile B — Michael and Anna, 48 and 46, 4 IPs, $180,000 combined income, $1.1M equity

Michael and Anna own four Australian investment properties: three bought before 12 May 2026, one bought in June 2026 (after the cut-off). Combined income $180,000. Net equity $1.1 million.

The post-reform position under draft settings:

• Three IPs indicated as grandfathered — retaining current NG and 50% CGT discount for life of asset.
• One IP (June 2026 purchase) would lose NG from 1 July 2027 under proposed framework.

The playbook for them, in priority order:

1. Do nothing destructive. Resist the temptation to sell the June 2026 IP just to "clean up the portfolio." The CGT and transaction-cost hit usually dwarfs the NG loss.
2. Extract equity from the three grandfathered IPs. Refinance, release $200,000–$300,000 across the three.
3. Deploy the released equity into either Strategy 1 (new-build, restoring a deduction stream) or Strategy 3 (SMSF property if combined super sits in the $250K–$600K range).
4. Book the accountant meeting before 30 June to document grandfathering status on all four assets and confirm the succession plan.

10. Geographic Map — Where Each Strategy Plays Best

A compact, decision-oriented reading across the eight Australian capitals and regional Australia. None of this substitutes for city-specific deep dives — but it tells you where to start.

For city-specific deep reads on the Australian housing market: Sydney 2026 Outlook · Melbourne 2026 Recovery · Brisbane 2026 Trends · Brisbane Olympics 2032 Hotspots.

11. The Three Traps to Avoid in the Next 14 Months

12. The 12-Month Outlook

The next six months: transitional noise, regulatory clarification, draft legislation released for consultation, some investor exit-selling — especially from over-leveraged 3+ property investors in Sydney and Melbourne. The result for selective buyers may be the best buying window since 2020 in specific submarkets.

1 July 2027: if enacted broadly as announced, the reform commences in full. The market re-prices on lived experience rather than speculation. Capital flows reorganise around the four strategies.

24–36 months out: the new-build pipeline delivers in earnest. The Local Infrastructure Fund spending begins to hit. SMSF investor cohorts complete first post-reform acquisition cycles. Structural divergence between new-build-stock cities (Brisbane, Perth, Adelaide) and established-stock cities (Sydney, Melbourne) becomes visible in capital-growth data.

Frequently Asked Questions