Australia’s negative gearing hotspots revealed by ATO data

Australia’s negative gearing hotspots have been revealed, with the data showing investors right across the state were reliant on the tax method as a wealth creation tool – but also issuing a warning that rents could increase as changes to the investment tactic impact the market. According to Australian Taxation Office figures for the 2023/24 financial year collated by Carlisle Homes, landlords at Williams Landing in Victoria recorded the nation’s highest average net loss for the year at $10,294. Victoria actually dominated the list. In second place with an annual net rental loss of $10,259 is Crace in the ACT, just ahead of Fraser Rise in Victoria, where the annual average net loss was $10,054. The Ponds in New South Wales came in fourth with a $9538 net loss, ahead of Victoria’s Lynbrook, Wyndham Vale, Laverton North in spots five through seven. Schofields in NSW came in at ninth, with Wollert in Victoria taking out 10th position. Loan market mortgage broker Tony Nguyen in Northgate – SA’s negative gearing hotspot. Picture: Roy VanDerVegt South Australian Loan Market mortgage broker Tony Nguyen said there had been a shift across the market. “We have people who have purchased prope...