There are two main types of taxation of concern to investors that apply to residential real estate, Income Tax and Capital Gains Tax
Income Tax
If you rent your property a tax on trading profits calculated by deducting expenses from the rental income, will be payable.
Likely expenses for deduction can include commissions, cleaning, linen hire, electricity consumed, body corporate rates council rates, interest on borrowing, marketing costs.
The income tax scales for individuals in Australia can be found on the Australian Tax Office website.
Refer to www.ato.gov.au