Recently released figures from the ATO indicate that the number of people investing in property took a small nosedive in the 2008-09 tax year.
“There was a 1.5% decrease in the number of people completing rental property schedules in 2008–09,” says the ATO’s Taxation statistics 2008-09 summary.
“There were 34,001 less individuals reporting net rental income in 2008–09 than in 2007–08”.
Individuals earning between $34,000 and $80,000 represented the largest group of individuals that reported net rental income, accounting for 41.9% of investors, followed by the $6,001–$34,000 and $80,001–$180,000 brackets.
Positive gearing seems to have increased in popularity, with 34.1% of property investors reporting a net rental income greater than or equal to $0 – a rise of 3.5% the 2007-08 figure of 30.6%.
Negative gearing however remains the strategy of choice, with 65.9% of individuals with net rental income reporting a taxable loss.
Multi-property portfolios proved to be rare, with of 73% of property investors having an interest in only one rental property.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out