ATO releases draft ruling on expenses associated with vacant land
The ATO has released draft guidance around the application of deducting expenses associated with vacant land along with its compliance approach application for various situations.
Draft Taxation Ruling TR 2021/D5 sets out the ATO’s preliminary view on various aspects of the vacant land expenses rules in section 26-102 of ITAA 1997.
Read more at SMSF Adviser.
