Online negative gearing calculations

Discussion in 'Loans & Mortgage Brokers' started by Prospekta.mf, 5th Dec, 2019 at 11:29 AM.

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  1. Prospekta.mf

    Prospekta.mf Member

    Joined:
    11th Jul, 2019
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    Location:
    Bathurst
    Hi there, I'm very new to this. I'm interested to hear exprienced investor's thoughts on the accuracy of online negative gearing calculators and holding costs calculators like this one (Negative Gearing Calculator). Are they very accurate ? Is there other software available to help me gain a better understanding of my possible tax position when considering investing in real-estate ? Thanks in advance.
     
  2. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Location:
    Sydney
    We offer a modelling tool in our client pack. It allows you to play around with various matters incl specific property costs and income, LVR and sources of funds and also tax and cashflows and ownership %
     

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  3. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    Melbourne, Nationwide
    Most likely the online calculator you've mentioned is mostly a marketing tool. From a business perspective they want your name and email address so they can send you a periodic email. When you need finance, they'll be on your mind and that's where you'll go. Almost every broker (myself included) does something like this.

    The online calculator might be really accurate, it might be really simplistic. It may or may not be developed with the assistance of an accountant qualified to do this properly.

    The software I'd recommend is PIA, you can purchase it from Somersoft Home. It's been developed over 20 years and has been rigorously reviewed by accountants.
     
  4. Marty McDonald

    Marty McDonald Mortgage broker Business Member

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    Sydney North Shore and Norther beaches
    Thanks Paul that's very helpful.
     
  5. Prospekta.mf

    Prospekta.mf Member

    Joined:
    11th Jul, 2019
    Posts:
    15
    Location:
    Bathurst
    Cheers guys. Will check them out.