Post by Brent George on Jun 14, 2021 6:00:21 GMT
Bare land included in $1bn tax crackdown on housing speculators
Treasury hikes long-run revenue forecasts to account for increased tax liability on residential property.
Investors who borrow on bare, unproductive land will be barred from writing off their interest payments as tax deductible – if there is the mere possibility that one day, housing could be built on that land.
Newsroom: 14-June-2021
Treasury hikes long-run revenue forecasts to account for increased tax liability on residential property.
Investors who borrow on bare, unproductive land will be barred from writing off their interest payments as tax deductible – if there is the mere possibility that one day, housing could be built on that land.
Newsroom: 14-June-2021