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Fifth of Australians now own pr...

Fifth of Australians now own property as an investment

A fifth of all Australian people now own properties for investment purposes.
A fifth of people who live in Australia now own investment properties, according to the latest data released by the Australian Taxation Office (ATO).

It said that in the tax year 2011/12, some 19.3 per cent of people had property that they had just purchased as an investment. 

This marks a significant rise from nearly 20 years ago, when only 12.4 per cent of Australians were investing in the same way.

It shows the strength in the sector though, as more and more Australians are now seeing this as a positive way to make the most of their money moving forward.

The money they are able to bring in from their investment also hit record highs in the last taxation year analysed, when rental income reached $33.999 billion (£18.7 billion) in total.

This also indicates a change in the intentions of Australians, however, as more and more are now possibly renting rather than buying with the difficulties that remain in place when it comes to getting a mortgage. 

Posted by Ravin Chatlani

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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