One in seven taxpayers a landlord, with most making a loss: ATO
There were 1,751,679 property investors declared to the Australian Taxation Office in 2009-10, representing one in seven taxpayers.
It represented 59,235 more investors that the 2008-09 financial year.
The investors grossed $28 billion in rental income, up from the $26 billion a year earlier.
The majority of individuals – 72.8% – had an interest in just the one rental property.
And while the latest ATO revealed that Australia is still very much a nation of loss-making landlords, negative gearing claims shrunk.
Total losses on investment properties were $4.810 billion in 2009-10, or $2,746 per property investor.
It was down from $6.528 billion ($3,857 per investor) in 2008-09.
Of individuals declaring net rental income, 80% claimed rental interest deductions.
For the 2009–10 income year, 63.4% of individuals with net rental income reported a taxable loss (net rental income less than zero) from their rental property. This equated to 1,110,922 investors.
Of these negatively geared investors, nearly three-quarters earned (total income) less than $80,000 in 2009-10, and the average loss was $9,132 per negatively geared investor, or $176 per week.
