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samgdan

160 posts

Master Geek


#300702 28-Sep-2022 22:30
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Hi all,

 

 

 

i've been struggling to find a reliable calculator for deductible mortgage interest.

 

I helping a friend with her rental property and she needs to calculate how much she can claim from the interested that she has been charged on her rental property.

 

could anyone please help assisting an easy way to get the figure that can be claimed?

 

from my understanding she paid about $18000 in her mortage interest in the past financial year. how can I know how much of those $18k she can claim?

 

 

 

thank you 


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Handle9
11386 posts

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  #2974602 29-Sep-2022 08:41
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You don’t need an online calculator, the calculations are very simple. My post above has the rates and dates when they changed.

You plug the numbers into an IR3R and you’re done. She’ll have to pay a late filing fee but it’s really not a big penalty for a low value return.

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