The ATO has recently released a Ruling that clarifies when deductions for losses and outgoings that relate to holding vacant land will be denied in relation to individuals not conducting a business or in primary production. Among other things, it provides guidance on what is considered to be a substantial and permanent structure on the land, under what circumstances the structure is considered to be available for use, and what structures are considered to be independent and not incidental to the purpose of any other structure.
