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Financing Fees Amortization Worksheet

This worksheet calculates the amorti*ation of certain expenses over a prescribed period, under paragraph
+',$-,e- of the Income Tax .ct ,Canada-.

/our clients situation0

Part I ,current !ear-
o Tax !ear ended 1ec 2$, +'$3
4inancing fees incurred 5$ $3','''
4inancing fees incurred 5+ +$','''

Calculate the financing fee amorti*ation for the life of the debt.

Part II ,!ears later-
o Change in tax !ear ended 6ar 2$, +'$7
o 4inancing fees 5$ 8 full! repaid 9an $(, +'$7

Calculate the new financing fee amorti*ation for the life of the debts.
Tax year ended Dec 31, 2014
Tax year start Jan 1, 2014
41,639.00 42,004.00 42,369.00 42,460.00 42,825.00 43,190.00 43,555.00 43,921.00
Description
Debt 1 140,000.00 Jan 15, 2016 28,000.00 28,000.00 84,000.00 - - - -
Debt 2 210,000.00 42,000.00 42,000.00 10,442.62 42,000.00 42,000.00 31,557.38 -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
Tota 350,000.00 70,000.00 70,000.00 94,442.62 42,000.00 42,000.00 31,557.38 -
-
Dec 31, 2014 350,000.00 !70,000.00" 280,000.00 280,000.00
Dec 31, 2015 !70,000.00" !70,000.00" !70,000.00"
#ar 31, 2016 !94,442.62" !94,442.62" !94,442.62"
#ar 31, 2017 !42,000.00" !42,000.00" !42,000.00"
#ar 31, 2018 !42,000.00" !42,000.00" !42,000.00"
#ar 31, 2019 !31,557.38" !31,557.38" !31,557.38"
#ar 31, 2020 - - -
$t%er tax years - - -
Debt 1
Debt 2
#ar 31, 2017 Dec 31, 2015 #ar 31, 2016
&ees inc'rred d'rin(
tax year
Debt obi(ation
sette)ent date
Dec 31, 2014
&inancin( &ees *)orti+ation ,or-s%eet
&ees inc'rred .or tax year ended Dece)ber 31, 2014
Te)pate s'pport
123 /orp
&ee in.or)ation
0e.
1et e..ect
1et e..ect on inco)e
Tax year ended *ddbac- Ded'ction
/ac'ated
1otes
$ct 1, 2014 2repared
0e3ie4ed
*ppro3ed
*ndre4
0e.
&ee a)orti+ation by tax year
#ar 31, 2018 #ar 31, 2019 #ar 31, 2020
*d5'st)ent
0econciiation o. res'ts
Tax Te)pates 6nc.
2014-10-27
10725