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Please add this feature, rental properties are an area of significant t audit activity. I would have thought you would wan to be competitive with MYOB AE

Xero I vote for this change. MYOB AE provides this functionality. Be competitive and add the feature please as rental properties are an area of significant audit activity currently and the lack of this feature creates vulnerabilities.

There are currently no rental worksheets for companies (as the ATO do not accept rentals on a CTR in PLS) in Xero Tax. These schedules are available in other software providers ie MYOB.

As clients have rentals in company format, it would be useful to at least have worksheets for each property to keep income and expenditure (and depreciation).

This would assist clients as they would have more detailed information for each property as well as a better audit trail. Also a time saving in data entry for the tax return.

The worksheet could simply then update the relevant income field 6G, expense field 6H and depreciation 6X in the Company tax return. The worksheet would not need to be included in lodgement.

As well as also having a private use %

Agree. One part owner may have loan interest whilst the other shared owner may not.

I agree, this is a much needed feature.

Absolutely important given rise of Airbnb Holiday rentals etc

Also functionality has existed in competitor software, MYOB and HandiTax for years

Please incorporate this feature. it is used regularly and will greatly reduce the manual adjustments required.

Please incorporate this feature in the tax return settings

The ability to mark a portion of an expense as private for a year is absolutely critical - it's something that comes up regularly and should be just a standard part of the return. We can apportion for regular deductions (e.g. D5), but this needs to be a part of the rental schedule as well

it would be an easy addition

agreed, MYOB too, so Xero really needs to make this easier. Client owns 100% of the property, but this year can only claim 80% of some expenses as rented airbnb. Manually reducing the expense doesn't work for capital works and depreciation. you need to keep them as they are, so they calculate next year when the % might be different. I ended up entering income to cancel the private % of capital works and depreciation and claiming 100% of the capital works and depreciation. And manually edited the expenses down was a waste of time.

Great improvement, as long as default is based on ownership percentage and we only change certain expense percentage
An example may be Land tax. It may not apply to both owners on this property

Private use of expenses in rental schedules should be an added feature. Would allow for transparency on the tax return for expenses & the private % use.

Agreed!! This feature should be added.

I agree that there needs to be a way of apportioning expenses in the rental schedule. there are so many people with short stay rentals who use the house themselves for part of the year and therfore need to apportion costs across business/personal. Your work around is to calculate the percentage in a separate document then enter the apportioned costs into the return. This is not good for the client as they don't see the full costs reported anywhere and also makes it hard when depreciating assets are in the schedule and the percentage work related changes each year - there should at the very least be the option to apportion for these items from gross to net. I'm sure this was possible in past years, it must have changed in the 22 return?

Enable auto populated rental information between co- owners after one of the owner's tax has been lodged.

Currently the auto populated rental information only available when all co-owners are still in Draft. Even sometimes the auto population doesn't flow in when all co-owners are still in Draft. It's time consuming when you have to re enter all the information especially when there are more than one rental properties involved.

We cannot strip out the private percentage portion in the rental schedule. This would provide a vey useful audit trail.