Does the software handle the complex calculations related to Capital Gains Tax?
Yes. The legislation regarding CGT has certainly changed over the last 20 years, and the result is a number of different rules that must be followed depending on the purchase date of the asset. MySF Manager handles the pre 20th September 1985 assets, the 1988 valuation rule, the 1999 Frozen cost index and the 1/3rd Discount rule. In other words CGT is covered in MySF Manager. One of the most complex areas is where a fund owns shares purchased in blocks over an extended period. MySF Manager handles this and provides a choice to users when selling shares as to which block of shares to sell from. On screen the CGT liability is displayed prior to completing the transaction so you can do ‘what if’ modelling to and see the tax impact of selling one group of shares or another.
