is a block of land considered ppor?

  1. 7,054 Posts.
    lightbulb Created with Sketch. 218
    If I sell a block of land that I purchased more than 12 months ago, are the interest payments and additional expenses incurred during ownership considered a tax deduction by the ATO?

    Given that I'm a FHB and currently boarding with family, does that automatically qualify the block of land as my PPOR or would it be considered an investment property?

    Thanks in advance.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.