rental returns -ato

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    It seems the net rental income for the average rental property is negative! according to the returns filed to the ATO -

    In 2001, according to the ATO, 1.3 million taxpayers declared rental income of $12.6 billion and claimed rental deductions of $13.3 billion. And, although rental income rose seven per cent on the previous year, deductions claimed jumped by 15 per cent.

    "Rental income hasn't gone up by much because everyone's been out buying property, so there's been an over-supply of properties," Drum says
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