CGT Reporting
CGT Reporting
Capital Gains Tax (CGT) is a complex area. LOCKHART Business Advisors has a system in place whereby we offer the following benefits for our clients in managing and solving CGT problems associated with listed investments.
- We save massive amounts of research time spent (& wasted) when producing reports on long-held shareholdings.
- Reconstruct shareholding histories over several years and automatically factor in all dividends and DRPs paid, distributions and tax-deferred components, and all corporate actions (share consolidations, share splits, bonus issues, capital returns,
demergers, takeovers - the list goes on) that have changed share volumes and cost bases over the years. - Utilise the most accurate, the deepest, and the widest database on publicly listed securities available in Australia (dating back to 1985).
- Cost savings. If a shareholding stretches back many years, then the first road block is the cost of acquiring the tax data. And, especially if securities switch share registries. We minimise these costs.
- We can identify missing entities. Sometimes entities have failed, merged, delisted, changed names, been long suspended or simply disappeared – entities that no longer have websites or share registries to help you find the tax data.
- Deceased Estate work. For deceased estates, you need the historical information PLUS the price of the securities on the date the deceased passed away to establish the CGT numbers that will apply to either the estate or the beneficiaries when they eventually sell the securities. Our systems have all the information needed.