Browse Forums Real Estate 1 Aug 03, 2009 7:57 pm Hi, this may be a silly question but i was thinking of buying a block of land with the view of eventually building (in a yr or two) and then rent out our current house. I was jsut wondering if you can claim the interest i will pay on the land as an investment while it is sitting their? Cheers Jason Re: Land as an investment 2Aug 03, 2009 8:14 pm No accountant, but if there is no income there is no deduction. Unless larger than 2h(CGTaccruing) and or primary producing. :ducksforcover: and waits to be corrected Where you are coming from is where you are going to... Re: Land as an investment 3Aug 03, 2009 8:44 pm mmmmmm thanks. thats what i thought. i toyed with the idea of putting a shed on initially as would have one when i built and rent out the shed as storage for people with boats or caravans. Although i think this wouldnt be allowed either as it will verge on the side of being commercial. Re: Land as an investment 4Aug 04, 2009 7:54 am You may also be charged land tax as well even if you dont own any other property. Mrs B Re: Land as an investment 5Aug 04, 2009 9:57 am Land tax Land tax is imposed in all states and the Australian Capital Territory but not in the Northern Territory. It is a tax levied on landowners except in the Australian Capital Territory where it is levied on lessees under a Crown lease. Landowners are generally liable for land tax when the unimproved value of taxable land exceeds certain thresholds (except in the ACT). In some states there are deductions and rebates available, depending on the use of the land. Principal places of residence are usually exempt from land tax, although this is subject to certain qualifying criteria which vary between jurisdictions. Onc_Artisan Where you are coming from is where you are going to... Yeah I don't know why I came to a forum. Place is full of wierdos/pedos thought internet may help but I suppose I'll try my luck with someone in person. Cheers. I tried… 0 6440 Need advice on the backyard plan above. Should I excavate and cut all of the dirt to level with the house slab or semi-excavate as per photo above? Both left and right… 0 24861 13 6632 |