Forum Discussion

alexzhu's avatar
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...
  • Sandy_C's avatar
    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