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Hi Tinky, It is the "Rental Properties 2007" guide, (NAT 1729-6.2007, pg 10). As Yo Yo ma has already stated, just jump on the ATO web-site and have a squizz. Heaps of info there. Alternatively, call 13 28 61 and speak to someone who can post any info you want out to you free of charge. I...

I asked the ATO what would happen if my intention changes. They said, 'no worries - it just means that said land no longer is a tax deduction' If they (ATO) really wanted to question my motives, I could provide details of conversations / meetings with builders etc, so I could easily prove it...

Yes, this is a beauty. Every accountant I have had for the last 3 years has said to me that the interest on vacant land is not tax deductable, (even though I had explained that I always intended to build an IP on it :rolleyes:) Last week I went to see another accountant who said the same...