dela.dzadey's avatar
dela.dzadey
Icon for Advisely Board rankAdvisely Board
2 years ago

AMA: We’re Dela Dzadey and Lana Graham, paraplanning and Xtools experts, Ask Us Anything!

Got a burning question? Join us here on Wednesday 22nd May from 2pm to 2:30pm. For those who don’t know us, I’m Dela Dzadey, director and advice manager at TNT Group, helping bridge the efficiency ...
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Asini.Pathirage69456's avatar
Asini.Pathirage69456
Visiting Enthusiast
10 months ago

Hi lana.graham ,

Can I please know how we can model a negatively geared investment property to see the effect on tax on Xtools+.

  • anthony.derriscott's avatar
    anthony.derriscott
    Icon for Iress Team rankIress Team
    10 months ago

    Hi Asini.Pathirage69456 

    I can jump in here and thanks for your question!

    Within Xtools+ you navigate to:

    1. Input > Individual > Assets > Property and add the property and enter the relevant details in the 3 tabs (Property Details & Acquisition / Growth, Rent and Expenses / Property Disposal).
    2. Then navigate to Input > Individual > Liabilities > Loan Details and add the loan, ensuring you enter the loan details in the other pages too, eg. Rates and Fees / Repayments / Drawdowns / Associate.
    3. Within the Display pages, you will then be able to view the cashflow and tax projections.

     

    More details on entering property information can be found in the following Iress Community article: CALM Xtools+ Property 'Remodelling'

    I hope this helps!

    • Asini.Pathirage69456's avatar
      Asini.Pathirage69456
      Visiting Enthusiast
      10 months ago

      Thanks Anthony,

      So I have added screenshots below,  I dont see the tax deduction on the loss coming through.

       

      • anthony.derriscott's avatar
        anthony.derriscott
        Icon for Iress Team rankIress Team
        10 months ago

        Hi Asini,

        There isn't a line that displays the calculated negative gearing deduction, but it is included within the tax calculation itself.

        Hope this helps.

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