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I think manoj wants to see you deduct your net holding costs over the ownership period as well - unless your $40k covers that?

So my wife doesn't work - by choice. And there's now way I could put $50k pa into super. BUT, for the last 5 years, every 18-24 months, I've been able to buy a property outside of super. These have all grown, and while the grossed up costs would result in a loss at sale for the most recent...

Shouldn't this be a dinner for 2 worth $171? :D:D:p

You're adding the tax back in at the wrong place. Your income doesn't change. You simply choose to invest $10k of your $100k income into property (to cover the shortfall...). So at this stage, tax is irrelevant and your INCOME doesn't change. (And let's not complicate this with ITWV!) Then...

Look at it this way. You are effectively investing $10k pa after tax in your property. The government likes this so much that they will pay you back the tax you already paid on that earned $10k, so your investment only costs you $5850 after tax. And I'd think it fairly rare that your super...