Is CGT on sold property offset by repairs to new investment property?

I've got this friend. Ok, so much for subterfuge, it's me! I want to sell my property investment (vacant land), which will be liable for quite a bit of capital gains tax.
The plan is simply to buy another property where I can either build or repair something that will give me a rental return. Can I deduct from the 'capital gain'
any expenses in repairing the new property? Or is there a better way other than salary sacrifice, which is not applicable at the moment?

No. What you are describing does not come within any of the limited roll-over situations in Australia.

If the land has not been used by you for obtaining any assessable income and you have purchased the land on or after 20th August 1991 where the holding costs have not been claimed as a tax deduction, holding costs such as rates, interest, land tax, insurance, maintenance can be used to increase the cost base
The only way to offset capital gains is by capital losses or reducing your overall salary.

You can reduce your salary by sacrifice which lowers your income.

I believe there is "rollover" of CGT to a new property in the USA, which may be confusing you.
Thanks for the early response. I've had the land since 1989. In my primitive way of thinking I was reckoning that if the ATO determined that an investment property was adjudged the same as a business, that in that financial year say, I had made $50K as a capital gain on an investment property that investing in a further capital gain venture and acruing expenses, that they could be offset against the capital gain as a loss. But I'm getting the message that the ATO wouldn't look at it that way.
The problem with salary sacrifice is that owing to a recent business venture that has returned a loss for the past 18 months we received substantial payments from the Family Tax Benefit because of our kids. However if I salary sacrifice to reduce my capital gains tax the FTB now deems that sacrifice as income and I have to give back an enormous amount of money. So it's pointless.
I'm kind of trapped into keeping the land or copping a double whammy when I pay both capital gains tax and have to pay back a huge sum of FTB. Now where's that sad face...Oh here it is: :mad::mad::mad::mad::mad: