How should I start using the Prescribed Loan Worksheet?

Andrew Skujins -

Please ensure the following are correctly specified:

  • The amount of the loan
  • The date of the loan (for the prescribed interest rate)
  • The number of days the loan is outstanding during the tax year (i.e. full, or partial year)
  • The investment income to be earned on the loan balance
  • The existing personal tax amounts (e.g. income, deductions, and credits) for both the advancer and recipient of the loan
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