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Vacant land tax changes could hit SMSF developments

Recently legislated changes to tax deductions for vacant land could affect SMSFs that have bought land with the intent of constructing residential dwellings on it, according to SuperConcepts.

Vacant land tax changes could hit SMSF developments
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  • Shared by Accountants Daily
  • November 07, 2019
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In a recent blog post, the SMSF service provider’s executive manager of SMSF technical and private wealth, Graeme Colley, said the laws, which passed parliament in October, would likely see SMSFs that had purchased land for development purposes denied deductions on their holding costs until construction was completed.

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