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Pre and Post Tax Deductions
Pre and Post Tax Deductions

Pre and Post Tax Deductions fields have been removed from our servicing calculator

Paul Kelly avatar
Written by Paul Kelly
Updated over a year ago

In an effort to make things easier for our users we have removed the Pre and Post Tax Deduction fields from the Quickli servicing calculator.

We did this because:

  • These fields would often result in users becoming misled or confused

  • These fields were never backed by any lender-specific policy and there are ultimately too many different types of deductions to account for if we were to attempt that

  • None of the lender calculators (except NAB) have explicit fields to input those deductions which made it extremely tricky to export these figures into the correct places for each lender calc. Anything we chose would be a guess and that's dangerous for us.

  • We were always blocking the EasyCalc export when there was a number in either of these fields which meant regardless you were forced to move those figures into different fields in order to get the EasyCalc export to work.

Our suggestion for how to handle pre/post tax deductions.

For example, if you want to remove from servicing a pre-tax deduction of $5,000/year then we suggest inputting into the Base PAYG field as follows. Each input field acts like it's own little calculator, try it out 🥳.

For example, if you want to remove from servicing a post-tax deduction of $1,000/month then we suggest putting it in as an Other personal liability repayment as follows. This will ensure it's consistently handled the same by each lender on our panel as a post-tax commitment.

If the deduction is for HECS then overriding to the correct repayment will handle all of this. There will be no need to deduct the income from anywhere else.

It will be up to you to read policy and learn if that particular deduction can be included (added back) into servicing or not. Nothing about Quickli is determining this for you. This section of the policy library might be a good place to start.

If you have any questions about this you can reach out to us in the chat box at the bottom right or at [email protected].

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