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READ MOREVacant 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.
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.
Read more at the Accountants Daily.
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