Claiming Interest on Vacant Land

We were browsing the Private Rulings register recently and noticed two somewhat similar scenarios had been given two very different answers by the tax office. Both rulings related to the deductibility of interest on a block of land, with intent to rebuild an investment property for long-term income.

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Capitalising Interest - TD 2012/1

The tax office issued a draft determination last year on the topic of using a capitalising line of credit to fund interest repayments on an investment property whilst using the rent to pay down personal debt. They've now finalised that determination and there are a few important points to consider as a result.

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Tax return deadlines for 2011 & variations for 2012

Just a quick note to remind you that if you've not yet submitted the information for your 2011 returns, you should probably move quickly.

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New banking details

After getting a little frustrated with our previous bankers, we've broken up with them and moved onto Bank of Melbourne.

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