Vacant land expenses no longer deductible in "build-to-rent" investments - Accounts NextGen

Vacant land expenses no longer deductible in “build-to-rent” investments

Vacant land expenses no longer deductible in “build-to-rent” investments

vacant-land

Starting from 1 July 2019, individuals who hold vacant land may not be entitled to claim those costs as an allowable deduction.

Prior to this, claiming tax deductions for holding vacant land was available in certain circumstances. An example of this may have been during the construction phase of a development when no income was being derived.

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