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Thank you to all who posted replies - interesting that the ATO will let you claim based on your intentions. I hope that this has helped other members and like Phil that there members who now have their accountant doing amendments to previous returns on their behalf! Thanks once again!

Hi everyone, I'm very new to all of this and just trying to get my head around a few different concepts and strategies. Can someone can point me to a resource or can help me with the basics of buying a vacant block of land with the intention of building an IP down the track. My dad wants to...