Overview
The Capital Gains Relied Analysis - Segregated report provides a list of all investments with parcels open as at 30/06/2017 or today's date and an acquisition date before 09/11/2016. This report has been specially designed to assist with the CGT Relief under the Superannuation Reforms effective from 1 July 2017. It should be used for segregated funds to assist in identifying the most appropriate investment to move out of the segregated asset pool and at which date.
If there are investments that have a partial sale between 09/11/2016 and 30/06/2017, refer to How to process partial sales before 30 June 2017 but after CGT relief event for segregated funds for additional steps before processing this event.
Capital Gains Relief Analysis Report
Report Parameters
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Field Name |
Field Description |
Field Validations |
Example |
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Output Format |
PDF or Rich Text Format available |
Mandatory radio button |
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Output Destination |
You can select whether to download, view or publish to fund documents |
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Download |
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Last Period Update End Date |
Shows when the last period update was run |
Pre filled text |
30/06/2014 |
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Report Header |
Turns on the report header logo To learn more about setting up logos on reports, please see White Labels |
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No |
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Draft Watermark |
Option to put a draft watermark on each page. |
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No |
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Page Footer / Number |
Option to either display both a page footer with date and time stamp, page numbers only or leave blank |
Mandatory drop-down |
No |
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Group By |
Option to either display by Market Type, Asset Pool ,General Ledger and Holding Reference |
Mandatory drop-down |
Market Type |
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Include Asset Codes |
Option to add assets codes to the report |
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Yes |
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Exclude Losses |
Option to exclude the losses from the report |
Mandatory radio button |
No |
FAQs
Q: Why are some investments highlighted with an asterisk?
A: There are special processing requirements around investments with partial sales between the CGT Relief Date and 30 June 2017. An asterisk is used to highlight these parcels.
Q: If I want to use a particular date rather than multiple dates to CGT relief using the segregated method, which report should I run?
A: Capital Gains Relief Analysis - Proportionate report has been updated to allow you to pick a specific date to reset the cost base based on the market value on that date.
Q: What is the Transitional CGT Relief?
A: The transitional Capital Gain (CGT) relief has been introduced to provide relief to individuals who will have to reduce the assets currently supporting retirement pension income streams in order to:
- comply with the $1.6m transfer balance cap, or
- the Transition to Retirement Income Stream reforms which commenced 1 July 2017.
The mechanics used to obtain the CGT relief is to, reset the cost base of a CGT asset to its market value through a deemed sale followed by an immediate repurchase of the asset. The gains or losses will be entirely disregarded for funds using the segregated method or partly disregarded using the proportionate method and may be deferred until the CGT assets are sold.
Q: Which investments will be included in this report?
A: Any CGT assets acquired before 9 Nov 2016 and held to 30 June 2017, are eligible for the transitional CGT relief. Bank Accounts (domestic and foreign) and Traditional Securities are specifically excluded from this report as they are not CGT assets. Any investments sold on or after 9 Nov 2016 are also deliberately excluded from this report.
Q: Why does this report show the maximum valuation price between 9 Nov 2016 to 30 Jun 2017?
A: For funds using the segregated method, finding the highest valuation price between 9 Nov 2016 and 30 June 2017 may potentially result in obtaining the maximum amount of CGT relief. For funds using the proportionate method, the cession time has to be 30 June 2017, therefore there is no opportunity to pick a different price.
Q: What about parcels of investments in a capital loss position?
A: For unrealised losses, there appears to be no advantage in making an election to reset the cost base of the asset and crystallise the capital losses in 2016/17 FY.
Q: Where can I find more information about this?
A: Class has created a webpage on Super Reforms: https://www.class.com.au/super-reforms-2016.
A good starting point will be:
- Law Companion Guide 2016/8: Superannuation reform: transfer balance cap and transition-to-retirement reforms: transitional CGT relief for superannuation funds
- SMSF Association CGT Relief Go-To Guide (Member Only).