Vacant Land Deductions: The New Rules

Identify and manage the impact of the complex new rules 

Recorded 9 December 2019

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Identify clients caught by the new rules
When deductions can and cannot be claimed for newly constructed rental properties
The hidden traps and problem areas

New legislation will prevent some clients from claiming interest and other holding costs from 1 July 2019 for property that they own. While the rules are aimed at specific problem areas, they are complex and will be difficult to navigate for many clients.

With these rules targeting 'Mum & Dad' property developments, it will be essential for every practice to be able to identify affected clients and apply these complex new rules.

This webinar works through the new rules to help you identify clients who could be caught and the process that needs to be followed to determine the tax impact. We also walk through the last-minute amendments that try to limit the scope of the rules and look at the situations where problems might still exist.

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Recording Individual
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What we cover

The new rules limiting vacant land deductions are complex. This practical webinar walks through the process for identifying what clients are impacted and the process to determine the tax impact:

  • Identifying clients who can ignore the rules and why
  • Working through the specific exceptions for primary production land
  • Understanding the impact that the rules will have on rental properties under construction
  • What happens to expenses that cannot be deducted?
  • Determining when land that contains a building or other structure is still treated as though it was vacant
  • New record keeping requirements that have been introduced under these rules
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Recording Individual
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Michael Carruthers

Tax Director, Knowledge Shop

Michael oversees the development of the tax team for Knowledge Shop and Hayes Knight in Sydney and is head of the Easton Investments’ national tax advisory committee. He has a knack for seeing through the complexity and helping practitioners work through highly technical issues with certainty and accuracy.

Michael is a member of the advisory panel for the Board of Taxation and is a member of the reference group for the Board’s review of small business concessions. He was also an expert panel member for the Board’s review of tax impediments facing small business.

Michael Carruthers
Michael Carruthers
Tax Director, Knowledge Shop

Register

Individual 

$195 Member
$235 Non-member

Office*

$350 Member
$390 Non-member

 *The office rate applies per office location (maximum 10 participants per office location). The PD points for all attendees will be recognised.

How to access the recording

  1. Knowledge Shop members, access your discounted pricing by logging into the Knowledge Shop member website and registering. More on membership.
  2. For Individuals:
    • Register and we will email you your access details to Knowledge Shop's IQ platform (generally within 24 - 48 hours).
    • Your recording and any successive recordings you purchase will display on your personal profile.
  3. For Offices (access for up to 10 individuals from the same firm): 
    • Register and we will contact you to organise login details for your nominated staff members (generally within 24 - 48 hours).
    • You can also nominate a supervisor from your firm who will be able to see who has completed the webinar and where applicable, their quiz scores.
  4. Your recording will be available for 3 months from the date of purchase and can be viewed as many times as the registered person likes within those 3 months. Once watched, your PD hours will be recorded on the personal profile of the participant. 

Terms & Conditions 
All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are available for webinar recordings once the Knowledge Shop IQ platform has been accessed.  Refunds are only possible if the webinar recording has not been accessed.