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 buy a block of land in anticipation of retirement and I'm considering buying the block, build a basic shed or similar in a few years which he would then rent from me whilst doing a bit of travelling. Would GST apply to the purchase? I assume that as the block will not be income producing until the shed is built (unless I can get an agistment in the meantime?) that expenses etc would not be tax deductible? If for whatever reason I sold down the track either before or after building something what happens then in relation to tax? Are the expenses incurred before the build done factored in for CGT purposes? Is there anything else that I need to be aware of or consider?