Is this how to use a loan apportionment calculator?

Discussion in 'Accounting & Tax' started by pacey, 5th May, 2017.

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  1. pacey

    pacey Well-Known Member

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    Attached are loan apportionment calculators for two loans.

    Each contain the activities that have occurred in each loan since using the redraw facility - the facility had not been used previously. There have only been IO payments made to each of the loans since this activity started. All redraws were for personal uses.

    Assuming I have entered the correct dollar amounts in the cells and include all activities to date from the start of using the redraw facility, can someone please advise if I am using this calculator correctly? Other than checking the data against the actual loan statements, is there anything you would question looking at this if you were going to use it as a summary report to calculate tax deductions on the interest of the loans?

    Thanks for any advice.
     

    Attached Files:

  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    I will refrain. Bantacs would be better to address this if its their intellectual property.
     
  3. pacey

    pacey Well-Known Member

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    Canberra
    Yeah fair call. Thanks for the reply anyway.