Yes, in Australia, land tax is usually levied on investment properties that are not owner-occupied. 

The amount of tax you'll pay depends on various factors such as the property's value and location, and your state's land tax regulations. 

It's best to check with your state revenue office for more information on the specifics of land tax and how it applies to your investment property.

The amount of tax return for an investment property depends on various factors, including the rental income, expenses, and deductions claimed. 

Rental income is taxed at the individual's marginal tax rate, which can range from 0% to 45%. Expenses such as loan interest, maintenance and improvement costs, insurance, property management fees, and depreciation can be claimed as deductions, reducing the taxable income and increasing the tax return. 

The amount of tax return can be calculated by subtracting the expenses from the rental income and applying the appropriate tax rate.

It is important to note that the tax rules and regulations can change over time and it is advisable to seek the advice of a tax professional to determine the exact amount of tax return for an investment property.

There are several tax benefits available for investment property owners. These include:

Depreciation allowances: Investment property owners can claim deductions for depreciation of building structures and fittings.

Interest deductions: The interest paid on loans used to purchase or improve the investment property can be claimed as a tax deduction.

Rental expenses: Expenses incurred in relation to the rental property, such as advertising, insurance, repairs, and maintenance, can be claimed as tax deductions.

Capital Works Deduction: This is a tax deduction for the cost of construction or improvement works carried out on the property.

Negative Gearing: If the rental income from the property is less than the expenses incurred, the difference can be offset against other taxable income, reducing the overall tax bill.

Capital Gains Tax Exemption: If the property is held for at least 12 months, any capital gains from the sale of the property may be partially or fully exempt from capital gains tax.

It's important to note that these benefits are subject to specific conditions and limitations and should be discussed with a tax professional for personalized advice.

Yes, you can live in your investment property and still claim tax deductions, as long as the property is rented out for part of the year. The portion of expenses related to the rental period is tax deductible.

However, the portion of expenses related to the period when you lived in the property is not tax deductible.

The ATO (Australian Tax Office) uses a reasonable apportionment method to calculate the deductible amount based on the rental period and the period of personal use.