Hi All I am at a bit of a loss, I live in North West WA and am moving down south. I am renting out my house here and have 1 in QLD. The QLD one costs $2800 a month and this one costs $4070 a month. The QLD brings in 1350 a month but the one here will bring in $9960 a month (2300 a week, thanks mining boom). When I work it out with my salary of $116k I think I am actually claiming more in tax due to interest than what I am paying, I estimate $31k from salary and rents will need another 40k tax at end of year. If I am already paying 31k and have 70k of interest claimable without all the other claims I am already past what I am paying in tax? My wife also is half owner of the one bringing in 9960 a month so I will only be taxed half of that at full rate as she does not work. Can someone please explain to me where I am going wrong here? Please not too many big words lol.