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Change to vacant land tax rule could cost property owners

Change to vacant land tax rule could cost property owners

Moves to end tax deductions associated with the cost of holding vacant land risk serious "scope creep" and could leave property owners and primary producers worse off, tax watchers have warned.

by Shared by Financial Review | 23 Sep, 2019

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Already being considered by federal Parliament, legislation designed to deny owners of vacant land the ability to claim holdings costs such as interest, council rates, land tax and insurance as deductions has been likened to the removal of negative gearing.