H & R BLOCK BORROWING EXPENSES & CAPITAL WORKS DEDUCTIONS 2007 Basic Chapter 9 Q2 c & d
Taxpayer’s name _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ TFN _ _ _ -
_ _ _ - _ _ _
|
BORROWING EXPENSES date commencing /
/ |
CAPITAL WORKS DEDUCTIONS (building cost write off) |
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|
YEAR ENDING |
AMOUNT DEDUCTIBLE |
REMAINING AMOUNT |
YEAR |
OPENING VALUE |
DEDUCTION orig. cost x rate |
BALANCE REMAINING |
|
Year ending |
1686 x 321/1826 = 296 |
1390 |
|
|
|
|
|
Year ending |
337 |
1053 |
|
|
|
|
|
Year ending |
1686 x 366/1826 = 338 |
715 |
|
|
|
|
|
Year ending |
337 |
378 |
|
|
|
|
|
Year ending |
337 |
41 |
|
|
|
|
|
Year ending |
41 |
nil |
TOTAL |
|
|
|
|
BORROWING EXPENSES |
AMOUNT |
Date capital work was
ready for use |
/ / |
|
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|
Application fee |
|
Prorating days |
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|
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|
Registration of mortgage |
|
Cost of construction |
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|
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|
Stamp duty on mortgage |
|
Prime cost rate to be
used |
2.5% 4% |
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Mortgage insurance |
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|
|
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TOTAL BORROWING EXPENSES |
1686 |
|
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|
Loan settlement date
& prorating days |
14.08.05 321 days |
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Term of loan |
15 years |
|
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Lending institution |
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|
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If she paid off the
loan in 2006 she could claim the balance of $1390.