As of the current date, some benefits for buying property in Australia and saving tax include:

Negative Gearing: Investors can benefit from negative gearing, where the expenses of owning a property (such as interest on loans, maintenance costs, and depreciation) exceed the rental income. This loss can be offset against other income, reducing taxable income and potentially saving on tax.

Capital Gains Tax Discount: If you hold a property for more than 12 months, you may be eligible for a 50% discount on any capital gains tax when you sell the property. This can result in significant tax savings for long-term property investors. Depreciation Deductions: Property investors can claim depreciation on the building and fixtures within the property as a tax deduction. This can help reduce taxable income and save on taxes.

Interest Deductions: Investors can claim deductions for the interest paid on loans used to purchase an investment property. This can reduce taxable income and save on taxes.

Tax Benefits for First Home Buyers: First home buyers may be eligible for various grants and concessions, such as the First Home Owner Grant and stamp duty exemptions, which can help save on upfront costs and reduce the financial burden of buying a property.

It’s important to consult with a tax professional or financial advisor to understand the specific tax benefits available to you based on your circumstances and investment goals.