Tax Deductions for Vacant LandTax Deductions for Vacant Land
25/10/202325/10/2023 0 Comments
The ATO has released Taxation Ruling TR 2023/3 setting out the Commissioner’s views in relation to the application of s. 26-102 of the ITAA 1997 which limits the deductions available for expenses incurred in relation to holding vacant land. The Ruling was previously issued in draft as TR 2021/D5. How s. 26-102 operates A loss or{...}