free tax and cashflow spreadsheet: feedback and faults?

G

grodgersoz

Hi everyone.

I decided to put together my own spreadsheet to calculate the tax implications and cashflow for an IP.
Ive generally found that most other spreadsheets dont cover all the expenses and therefor give a false figure of the true holding costs etc.

Please feel free to use it, play with it, alter it etc and please give me feedback on any errors you can find or other comments you would like to make about it.

regards
greg
 

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  • tax calculation and cashflow BLANK.xls
    15 KB · Views: 834
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Hi everyone.

I decided to put together my own spreadsheet to calculate the tax implications and cashflow for an IP.
Click to expand...
Hi Greg
Good work mate.
My suggestion would be to put some indicative figures in the yellow cells so that people can see the results straight away. Otherwise it looks nice and simple.

Ive generally found that most other spreadsheets dont cover all the expenses and therefor give a false figure of the true holding costs etc.
Click to expand...

Have you come across the one I did recently?
http://www.somersoft.com/forums/showpost.php?p=716686&postcount=37
 
Greg,

I compared your spreadsheet to the one I use and have arrived at the same answers - except you're double counting the cost of the management fee by including it in cells J5 and J12.

Apart from that it all seems OK to me.

Regards, Gary
 
I like these spreadsheets. They help out a lot however what do you do when you are 50/50 owners in an IP. How do I work out the figures on that.
 
NOI53Y said:
I like these spreadsheets. They help out a lot however what do you do when you are 50/50 owners in an IP. How do I work out the figures on that.
Click to expand...

Halve the income and costs and the tax calc should still work out fine. You could either include a cell that you enter your ownership proportion into and have the spreadsheet apply that proportion to all of the calculations or you could halve the amounts as you enter them.

Regards, Gary
 
gary -
thank you for picking up on that error, i have fixed it and re-posted the file for everyone.

bill -
your sheet looks much more detailed, very nice work and thank you for the link. Im going to have a play with it today.

the main thing i discovered by doing this exercise was just how hard it is and how long it takes for an IP to become neutral or positive gearded/cashflow.

has anyone else noticed that various property experts in the media tend to miss quite a few of the costs in their calculations and most frequently dont include rental vacancies in their numbers?
I found that rather frustrating as they are painting only part of a picture.
 

Attachments

  • tax calculation and cashflow BLANK.xls
    15 KB · Views: 299
Last edited:
Hi Guys,

I've attached a spreadsheet that I did ages ago (just updated it a little for the latest tax rates, etc). Has a bit more info than Greg's (which is also a very nice and simple spreadsheet), such as actually calculating the amount of tax payable (which is useful when you may move between tax rates with your deductions).

I've put in some imaginary numbers so you can see how it works. It doesn't have as many expenses listed as Greg's file as I've grouped a bunch together, but can easily add more and play with the file.

Yellow cells you can enter data into. Can also overtype the "loan amount" cell if you know the amount borrowed - I've just entered a formula based on the percentage of the purchase costs.

Thought it may be useful to someone. Don't think there is any problems with formula's, but if there is just le me know.

Cheers. :D
 

Attachments

  • New Property Calcs.xls
    96 KB · Views: 421
This is an xls I've evolved over 7 years.
Unlike others posted, it projects costs into future years and charts 'what if' analysis.

In effect, it emulates much of what Ian Somers' PIA software does, but I'd recommend you use this xls as a guide, and buy Ian's software for more accurate analysis.

Some limitations:
- It is optimized for Excel 2003. Some features do not render correctly in 2007 thanks for Microsoft's regressive removal of charting functionality.
- Stamp duty for all states has not been updated for a few years.
- Tools/Options/Calculation/ Iteration must be ticked.
 
I think you win!

A very nice XLS which I will pass most of my day tomorrow playing with. Thanks a lot for sharing, I can only imagine the hours you have spent on that......
 
Welcome said:
A very nice XLS which I will pass most of my day tomorrow playing with. Thanks a lot for sharing, I can only imagine the hours you have spent on that......
Click to expand...

built it for personal use so it isn't that user friendly.....but happy to answer considered questions.

probably the easiest way to use it is enter some basic data in input ws....then mess with the spin buttons on the graph ws.

on the graph ws, there's some hidden grouped rows at the top, which allow you to vary rent, interest, and growth so as to emulate economic cycles. But it is a little convoluted to use, so probably best to leave it alone. Time smooths the cycles out of property performance anyways.
 
Welcome, I've made a few edits to the xls if you wanted to d/l again.

I only added some of the charts recently, esp the net worth comparison (cash vs IP held vs IP sold).

It's one thing to think of putting a chart in, and another to accurately model treatment of the inputs under all circumstances (two incomes, line of credit, capital expenditure, etc).

This comparison feature is not treated as comprehensively by PIA software.
 
Thanks for sharing.

I like the simple one at this stage because I am new to this game and really only know the basics, I am sure that Woolfe's complex sheet would be awesome for those with a far greater understanding of the intricacies of property investing
 
hi WinstonWolfe,

Your spreadsheet sounded great, however, the link you provided doesnt seem to work, can you please check and update the link again.

cheers,
Wil
 
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