The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019Schedule 3, will limit deductions that can be claimed whilst land is vacant – except for businesses and certain taxpayers.DATE OF EFFECT: would apply to losses or outgoings incurred on or after 1 July 2019.

See related Tax Technical article about the whole of the Bill.

See below for the proposed amendments, relevant portions of the Explanatory Memorandum and ‘editorial comment’ by way of a critique of this measure.

FJM 17.8.19

[Tax Month – August 2019]

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