MYLEDGERTax preparation & working papers
Borrowing costs schedule
A schedule for loan establishment costs deducted over time under section 25-25.
The problem it solves
Borrowing costs must be spread over the right period, which is easy to forget in later years.
How it works
- Record the borrowing costs.
- The schedule spreads the deduction.
- Carry it forward each year.
What your practice gets
- Correct spreading of costs.
- Carried forward.
- Documented.
Questions accountants ask
Which provision applies?
Section 25-25 of the Income Tax Assessment Act 1997.
Is it carried forward?
Yes.
Does it give advice?
No. It supports your professional judgement. Check current ATO guidance and legislation for rates and rules.
Related features
Features that work alongside borrowing costs schedule.
Working papers hub
One tabbed page per client for year-end schedules: checklist, GST, tax return labels, depreciation, amortisation, Division 7A, FBT, investment income, distributions, franking, dividends, SMSF and more.
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A register of interest, dividends and distributions for the tax return's investment income schedule.
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Track Division 7A loan accounts, calculate minimum repayments per year with the benchmark rate and carry balances forward.
VideoDivision 7A results from FEDIX
Use Division 7A calculation results from the FEDIX calculator in MYLEDGER working papers.
FBT working paper
Record fringe benefits, scan transactions for likely FBT items and work through the FBT year.
VideoSee it working in your practice.
Start with one workflow and adopt more of the connected practice system over time. Your team reviews and approves the work.
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