Somersoft Spreadsheet Collection

[stinadaze]

I'll give it a go that way then. thanks

the calculator I was using I downloaded for free from

http://www.investmentpropertycalculator.com.au/free-investment-property-calculator.html

but as i said, depreciation is not listed seperatley as a non cash deduction. other than that i was quite happy using it LOL!

 

[darcy13]

Hi ALL

how would I get 'open office' to open these spread sheets as it keeps opening up in MS office ?

from the not so puter savy
stuart

 

[Rixter]

Hi ALL

how would I get 'open office' to open these spread sheets as it keeps opening up in MS office ?

from the not so puter savy
stuart

Right click the file you want to open. scroll down to and left click 'open with'. Left click on the program you want to open it with and tick the box 'always open with this file'.

Hope this helps

 

[darcy13]

when I right click I don't get asked 'open with'
just 'open'
using vista
stuart

 

[Rixter]

what else apart from open?

 

[darcy13]

open containing folder
copy download link
select all
remove from list

there all my options

and this is from the download box

 

[Rixter]

hmmmm have you saved the file to your hard drive or are you right clicking on the forum link? You have to have saved it first.

 

[darcy13]

right got that sorted thanks

was an operator error

on to next issue

'read only'

is that something I can change or is that it ?

thanks in advance

stuart

 

[darcy13]

I think it might just be easier to buy the somersoft PIA software !!

 

[Rixter]

I think it might just be easier to buy the somersoft PIA software !!

FARRRRRRRRR better idea. Why try to reinvent the wheel.

 

[Buzz]

Property Portfolio Tracker

Not sure if you find this of use or not but API Magazine used it as part of their article last month on managing your property portfolio. You can download from my website normally when you sign up to the newsletter and get access to all the other property inspecting spreadsheets - but I have tried to upload it here so you dont need to do that.

Hope it works and helps you - I use it for all my properties and hand it over to my accountant at tax time (expenses are broken up into the acceptable areas for ATO) and it works a treat.

Jane

 

[cadence]

great spreadsheet!!!

I've been slack and just keeping things in folders and always struggle around tax return time ........ I'm going to start using this from now!!!

 

[Buzz]

Glad you like it - I was especially proud of the drop down menus on the front page. There is heaps more spreadsheets I use for my portfolio if you do go and sign up for the Invest Kit on my site you can access them all.

Jane

 

[cadence]

will do. THanks Jane and everyone else for posting!

 

[Gargamel]

Glad you like it - I was especially proud of the drop down menus on the front page. There is heaps more spreadsheets I use for my portfolio if you do go and sign up for the Invest Kit on my site you can access them all.

Jane

Dumb question - what does the 'borrowing expenses' field record specifically? Interest has its own line item so I know it's not that. Is it a LOE payment - if not, where would I record a LOE payment?

 

[stephenb465]

negitive gearing calulation exl

I hope I haven't crashed any conversation but didn't know where else I could post this

Can someone assist me with a small calulation reguarding tax or point me in the right direction where I could get the information

How do I calculate tax deduction for negative gearing, either shares or IP

Now keeping it basic such as interest paid

and therefore how much would I save
Therefor I could then calculate how much interest I need to pay before I pay zero tax


ie if my income was 100k
I would then pay about 24,950 tax, and have 75,050 NET

Thanks
Stephen

 

[Rixter]

Therefor I could then calculate how much interest I need to pay before I pay zero tax

Why do you need to know that?

The income threshold for paying tax is $6000. If your gross income was $100,000 you would need $94,000 in tax deductions to reduce your tax liability to zero.

Why dont you start an new thread topic so you dont crash this one and so you get full forum exposure.

 

[stephenb465]

Thanks Rixter

I posted this question here as I thought it was the most appropreate place, being it has many excel spreed sheets (calulations) and that someone may have already posted this in the past.

I'm looking at ways to reduce my tax and at this stage I'm only interested in approx. numbers and to educale myself on how the tax man take his money from me.


so I pay 30 cents on the dollar tax
so when I claim interest, I will get 30cents on each dollar I paied in interest,
Is that about it?

 

[Rixter]

I'm looking at ways to reduce my tax and at this stage I'm only interested in approx. numbers and to educale myself on how the tax man take his money from me.


so I pay 30 cents on the dollar tax
so when I claim interest, I will get 30cents on each dollar I paied in interest,
Is that about it?

When you say you are looking at ways to reduce your tax I hope its not the main focus for you?? Sure, most people dont like paying tax but it shouldn't be the reason for you to invest. If it is then you are setting yourself up to lose big time.


Each tax bracket pays a different level of tax. But if you were the 30 cents bracket then yes for every dollar you pay out in property expenses including bank interest you would receive 30 cents back. Then, as your taxable income bracket reduces so does what you receive back.

Tax rates 2010–11


Tax on this income 0 – $6,000 Nil tax

$6,001 – $37,000 15c for each $1 over $6,000

$37,001 – $80,000 $4,650 tax plus 30c for each $1 over $37,000

$80,001 – $180,000 $17,550 tax plus 37c for each $1 over $80,000

$180,001 and over $54,550 tax plus 45c for each $1 over $180,000


I hope this helps.

 

[Buzz]

Dumb question - what does the 'borrowing expenses' field record specifically? Interest has its own line item so I know it's not that. Is it a LOE payment - if not, where would I record a LOE payment?

Sorry for the delay - the Borrowing Costs are usually taken - accountant feel free to contribute here - as the actual costs of borrowing deducted over 5 years, so fees associated in getting the mortgage. On an investment property if you paid an applicaiton fee for instance.

If LOE is living on equity ie a payment that you make to yourself for personal use then the interest charged on that payment would not be deductible in my mind. If you mean LOC line of credit then this would be a interest charge if the funds were used for investment.

Does this help?

Jane