"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?"
Going by the various discussions I have had (and my poor memory) with two different accountants, my understanding is...
only if it is a investment property are expenses deductible against capital gains. The 12 months ownership rule is applied for a 50% CG discount
"does that automatically qualify the block of land as my PPOR or would it be considered an investment property?"
No. it becomes a PPOR when you build a house and live in it
but I got conflicting advice on this from one accountant, but two others(1 my accountant, another a friend) said No
