Issue

There is a negative Tax Deferred amount on the Annual Tax Statement, how do I process this in the Distribution - Tax Statement event?

Background

Class doesn't allow a negative Tax Deferred Amount in the Distribution - Tax Statement event.

This issue can be resolved by using the following steps:

Step 1: Process a Capital Call event

Step 2: Process a Distribution - Cash event

Step 3: Match off Business Events

Step 4: Process the Distribution - Tax Statement event

Resolution

Process a Capital Call event

This is to top up the cost base of the investment which is also the affect of the negative tax deferred.

Navigate to Fund Level > Transactions > Investment - Corporate Action > Capital call

1. Create the business event with the amount of the negative tax deferred as at 30 June xxxx

Process a Distribution - Cash event

The purpose is to reconcile the Distribution - Tax Statement. 

Navigate to Fund Level > Transactions > Fund Income > Distribution - Cash

1. Create the business event with the amount of the negative tax deferred as at 30 June xxxx

Match off Business Events

Navigate to Fund Level > Transactions > Match Transactions

1. Match off the Capital Call event and the Distribution - Cash Event

Process the Distribution - Tax Statement event

1. Process the Distribution - Tax Statement event without the negative tax-deferred adjustment - it will  be consistent with the distribution cash event processed in Step 2.