Notes Online
Welcome to Notes Online.
We offer chapters and articles for individual purchase and we hope you benefit from using our Notes Online.
Disclaimer
These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.
Price
$26.40
Document Type
Article
Pages
12
Notes Online Home 2020 Tax Schools Day 1 Other new developments for individuals
Government finalises NEW restrictions for claiming deductions for ‘vacant land’
In this segment of the seminar notes we discuss the new restrictions finalised by the Government for claiming deductions for vacant land:
• When are deductions otherwise available for holding costs related to ‘vacant land’?
• The new ‘vacant land’ rules for claiming holding costs incurred on or after 1 July 2019
• What are the practical implications of the new ‘vacant land’ rules?
• The exceptions to the ‘vacant land’ measure
• Allocating non-deductible holding costs to the CGT cost base of ‘vacant land’