This free calculator shows a property's real weekly cashflow after tax - rent in, interest and holding costs out - using 2026-27 tax brackets and the correct 2027 negative gearing treatment for your property type: established, new build, or grandfathered.
See your real weekly cashflow after tax, on 2026-27 rates and the new 2027 negative gearing rules.
The maths, in order: annual rent, minus loan interest (interest-only basis for a like-for-like comparison), minus annual holding costs. That's pre-tax cashflow. Then apply your marginal tax rate to the net rental result (including any depreciation) to get the tax effect - either a refund if you're allowed to offset wages, or nothing if the loss is quarantined under the 2027 rules.
Pre-tax cashflow plus tax effect equals after-tax cashflow, expressed per week. The 2026-27 resident brackets (15 / 30 / 37 / 45%) drive the marginal rate; the property type drives whether the refund applies. That's the whole model - no growth assumptions, no capital appreciation, no compounding. Just what it costs you to own the thing this year.
Same property, same rent, same expenses, three different after-tax numbers. On a grandfathered property (contract before 12 May 2026), a $10,000 rental loss generates roughly $3,000 to $4,500 in tax refund depending on your marginal rate - so a property that's $200/week out of pocket pre-tax might be only $130/week after tax.
A new build gets the same treatment, indefinitely, as an explicit incentive for new supply. An established property bought post 12 May 2026 loses that refund from 1 July 2027 onwards - the loss carries forward against future rent or the eventual capital gain, but doesn't hit your take-home this year. Same debt, very different cashflow.
Realistic holding costs on a $650,000 established investment: council rates ($1,500-$2,500/yr), landlord insurance ($800-$1,400), property management (5-8% of rent), maintenance and repairs ($1,500-$3,000 in a normal year, more in a bad one), body corporate if it applies ($2,000-$6,000/yr on units and townhouses), and water/utilities you don't pass through to the tenant. Together, $5,000-$8,000/yr for a house, more for strata.
Depreciation is a separate line: a paper deduction that reduces your taxable rental result without costing you cash. New builds and heavily-fixtured properties generate the biggest depreciation schedules; older established stock generates less because Div 40 plant and equipment deductions were removed in 2017 for second-hand items. Get a depreciation schedule from a quantity surveyor if the property has any age of fittings at all.