Clarification For The Holiday Home Exemption
As part of our discussion, we noted that although there was an exemption for holiday homes, properties owned by a company or trust originally would not qualify.
Is A New Land Tax Bill Coming For Your Vacant Property?
There has been news coverage of changes to Victoria’s Vacant Residential Land Tax. Owners of vacant property need to pay attention.
No More Tax Deductions For Vacant Land
Previously, if you bought vacant land with the intent to build a rental property on it, you may have been able to claim tax deductions for expenses. New laws prevent these deductions from being claimed.
