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Get a new accountant. One who knows property taxes. I just advised a client on this precise issue and he claimed $80K...And a 0% PAYG Variation. You scrap on the last day of tenancy!!. It IS a write off BEFORE the land adds to trading stock - The cost base of P&E and Building CANNOT form...

Yes, normally. A tenancy of convenience wouldn't work....ie rented to a relative for a month before the demo when its an uninhabitable structure.

Strategies can be VERY complex in the area of devs like this. Most people have no idea of what they may miss. - Of course deductions depend on use of the IP prior to demo. Needs to have earned assessable income. I would generally say get a QS to advise is rule #1. If they say its not worth it...

Not too many really. I like the QS firms that have a price guarantee. If they cant find deductions its free..The biggies all do it it. The scale the fee back and will even hand it over for free its the result is that small. How can you lose ??

This is a real world example and demonstrates the benefits of a QS report and its use for scrapping. Client didn't have a report and wasn't convinced of merits of parting with $700 for a report as intent was to rent for a year or so then demo and rebuild then rent those new IPs. Following...