The recent amendments to remove the tax deductibility of holding cost expenses (ie. interest, council rates, land tax and similar) related to holding vacant land from 1 July 2019 are complex and subject to limited exceptions only. The implications for land holders, including primary producers, developers and others are significant. This video covered the many hidden issues and practical implications behind the measures to assist in identifying problems and planning for non-deduction issues when holding vacant land into the future.
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