Didn't really view it but i would thought with too much publicity, it can have drawbacks for e.g in my opinion i have once got a ruling from the ATO this question in regards to buying, and selling properties as an investor as to someone who does it on a day to day and the basis were the magnitude of the sales, intention, the level of sophiscation etc and i would presume the same would apply with having so many properties, and although you harvest the deductions as an investor but the magnitude could always lead the ATO to deciding that due to the nature of the operations and scale of it, they may decide that whatever you earn is assessable income and thereby the deductions could ultimately change etc. just something to be wary about
But rental income is taxed as any other income. I think the issue may come into play with capital gains tax - and 50% CGT discount (in my view) would only be an issue where he is selling / trading the properties regularly.