Hi guys, a great utility for keeping track of shares, especially dividends and credits.
It seems for portfolio creators, all of the market is perceived to be users still in the growth stage outside a SMSF or if with a SMSF, in the accumulation stage. Both of these stages are taxable. No one seems to have tackled the group who are tax exempt, who would still like to see their performance reporting, without taxation or valuation inaccuracies values not applicable to them.
There is another quite large group that are running a SMSF while in pension phase that are classed by the ATO as ECPI - Exempt Current Pension Income. Basically, if the fund has a member in pension phase, all of the assets that derive an income for that member supporting the pension are valued at today’s rates. And, any capital gains or income, including imputated credits are tax free, provided there is no non-arm’s length income (NALI). EG, one member of the SMSF is still in accumulation stage. In this case, the annual Audit will separate all assets into their respective members reporting.
In my simplistic view, you need a setting where a member can elect:
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A 100% deduction for capital gains tax. ( presently, 33% and 50% )
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Ability to amalgamate the value of each parcel of shares. e.g. a parcel of BHP shares purchased in January 2020 and a parcel purchased in February 2022, both have the same value when there is no FIFO, LIFO etc. both parcels prices of shares are averaged.
This way, I can run the various performance reports that apply to my group.