Hello all. I was wondering if someone could explain how I calculate negative gearing into the analysis of the property in the Investment detective. I am on the highest tax bracket but i dont know where the deductions are placed. Could someone please explain how i calculate it in the profitability section.
Thanks a million[biggrin]Hi
The tax benefit for a property is best calculated by your accountant as arriving at the final figure is very complex. ID does not estimate this figure because it could never be accurate and this would be misleading. I know there are other packages that estimate this figure but it is only and estimate and may lead to nasty surprises later if your final tax refund is not what you thought it would be[glum]
Once you have the correct amount from your acountant, you can enter it into the other income field as this will increase the cash receipts and have the desired effect on the calculations. Never assume that just because you are on the highest tax bracket that you will receive that maximum refund, ALWAYS check with your accountant, due dilligence will save you a lot of heartache later on.
Hope this helps
Regards
Philip Batey
Investment Detective
The best way to crunch the numbers and manage your portfolios
https://www.propertyinvesting.com/resources/24.html
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