Issue

How to process Rollover Out of the Fund?

Resolution

To process the Rollover Out in Class:

Step 1: Transfer balance from one member to another 

Step 2: Create Rollover out event

Step 3: Dispose Investments

Step 4: Dispose property

Step 5: Match transactions

Step 1: Transfer balance from one member to another 

For detailed steps refer to our knowledge article Family Law Settlement: How to transfer balance from one member to another member.

Step 2: Create Rollover out event

Navigate to the Fund level > Transactions > Member Payment > Rollover/Lump Sum Out event

The total amount of the rollover out should be equal to the total of disposed investments' and property's market value

Step 3: Dispose Investments

For detailed steps refer to knowledge article on Family Law Settlement: How to process the rollover out for investment without triggering Capital Gain.

Step 4: Dispose property

Navigate to the Fund level > Investments > Browse Holding Account

1. Click on the property
2. From the property detail screen, click on Edit
3. From the pop-up screen, tick the checkbox to Enable Editing of Reporting Categories
4. Select Non CGT Asset to Capital Gain Classification
   
   
5. Click on Save

Navigate to the Fund level > Transactions > Investment - Sell > Property Sale Deposit and Property Sale Settlement 

1. Create a Property Sale Deposit event with $0 Deposit and enter the Court determined value in the Remaining Amount field
2. Create a Property Sale Settlement event with the Court determined value in the Remaining Amount field.

Step 5: Match transactions

Match off the Rollover/Lump Sum Out event to the Listed/Unlisted Security Disposal events and the Property Sale Settlement event.