Share trading entities are now supported in Simple Invest 360.
By toggling on the relevant option, CGT related to specific investments will not be calculated when processing disposals.
|From the Main Toolbar, go to Trust, Company, or Individual. A trust is used in the following example.|
|Select Trust, Company, or Individual Details.|
- From this screen scroll down to the CGT Treatment section, the toggle "Share Trading Entity" to Yes:
The Default Disposal Method will automatically change to "First In First Out".
Additionally, the option to select a Stock Valuation Method will now be available:
- Click Save Changes.
Once completed, all accounts within the following account ranges will not calculate CGT on disposal:
|Account Code||Account Name|
|72300||Derivatives (Options, Hybrids, Future Contracts)|
|77600||Shares in Listed Companies (Australian)|
|77700||Shares in Listed Companies (Overseas)|
|78200||Units in Listed Unit Trusts (Australian)|
|78300||Units in Listed Unit Trusts (Overseas)|
Only these 5 account codes are affected. All investment accounts created under different codes will calculate CGT as per the settings in the chart of accounts.
If you wish to use an Account Code other than the default accounts for your investment, please see the following instructions on how to create a control account: Other Accounts.
Any disposals processed prior to changing the "Share Trading Entity" option will not be automatically updated. In order to update these disposals, the transactions need to be re-saved via the Transaction List.
For this reason, we recommend ensuring that the toggle for Share Trading Entities is correct prior to processing a new financial year.