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alexzhu's avatar
alexzhu
5 years ago

2020 Tax - Rental schedule

When there is a rental property shared between 2 individuals, and each of them is paying different amount of loan interests, say husband pays 5k and wife pays 6k, in order to correctly capture this e...
MYOB Essentials
  • Sandy_C's avatar
    Sandy_C
    5 years ago

    Hello alexzhu 

     

    Thank you for your post and feedback.

     

    I would like to let you know that there has been big changes between the 2019 and 2020 rental schedule, hence why MYOB is working to improve the functionality of the 2020 Rental property schedule. These are expected in future releases. For now if rental property is shared, but each owner has different amounts, you will either need share all or do not share and complete another schedule separately.

    Using an example: (e.g one owner has loan interest, the other owner doesn't) - one schedule will need to be created for the first owner, and a second schedule will need to be created for the other owner.

     

    We do understand it's tedious work having to enter multiple schedules and hope with the newer tax release, we'll be able to deliver a better user experience. 

     

    Regards,

     

    Sandy
    Client Support Representative

Emily_B's avatar
Emily_B
Former Staff

Hello alexzhu 

 

Thank you for your post. Unless I have misunderstood, it is sounding like you wish to see a different system in Essentials through which variable expenses for a shared loan between two individuals could be input. If this is the case, I will be happy to pass along your feedback to the right team. If however I have misunderstood your query and you do require help with someting pertaining to Rental Schedules, please do let me know and I will reach out to a team member with more expertise in this topic who can better assist you.

alexzhu's avatar
alexzhu
5 years ago

Hi Emily,

 

Thansk for your reply. Yes your understanding is right. I'm not sure if I posted in the wrong place, I was intending to refer to the 2020 tax in MYOB accountants enterprise but couldn't find a related tag to make a post.

 

 

  • Emily_B's avatar
    Emily_B
    Former Staff
    5 years ago

    Hello alexzhu 

     

    No problem at all, I have moved this thread to the Accountants Enterprise board to ensure it is seen by the relevant team for additional comments, if needed.

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