For ASX listed investments and managed funds with an APIR code (covers about 8,500 managed funds)
• Trading transactions: (buying and selling shares, writing and buying options). We provide a letter, which instructs a client’s broker to send electronic contract notes to a web address we provide. Trades are automatically loaded to their portfolio overnight. Client simply trades. No paperwork needed.
• Dividends: The system will automatically apply all tax details including declared and paid dividends, franking credits to client portfolios. No paperwork required.
• Dividend re-investment: Client tells us when dividend reinvestment is taken up or withdrawn. After that, the system automatically calculates share entitlement when dividend payments are made, and allots them to the portfolio along with tax details. No paperwork required.
• Mergers & take-overs: Reconstructions, share splits or consolidations, code and company name changes etc. The service tracks all corporate actions and makes the necessary amendments to the portfolio and tax position automatically.
• Valuations: The service takes data feeds every night and updates prices and valuations of all portfolios automatically.
For other investments
• “Service assets” such as rental property, private equity. The system will track income, capital etc, but information regarding buying, selling, income receipts and expenses will need to be advised to Shoebox and dealt with manually.
• “Personal assets” such as motor vehicles, home, contents can be recorded in the system for clients who would like their total net worth to be reported.
• As you would expect from a service that has been designed around recording and managing capital gains tax consequences, Shoebox takes tax free, tax deferred and distributed CGT income components into account when calculating CGT positions.
• Proactive CGT Management – enabling you to manage your CGT affairs throughout the year. Tax planning can be actioned prior to June 30th with ease. In many cases, realised gains may be offset much earlier in the financial year to better manage the risk of unfavourable market movements. Example; during June, the system will tell you exactly how much capital gain will be taxed, and you can see exactly what the effect on that number would be if various loss making holdings are sold. So the gain can be maximised, if you have losses that need to be used, or minimised, if gains need to be offset. This is very hard to calculate precisely without Shoebox.
Shoebox incorporates all the reporting that you would expect from a professional portfolio administration service such as: Transaction Reports, Portfolio Valuation by security, Trading summaries, asset class summary, Realised CGT Reports, Unrealised CGT Reports, Income Reports and Performance Reports.
Shoebox’s performance calculations take into account: Realised gains/losses, Unrealised gains/losses, Income/distributions during the period and Franking Credits and brokerage expenses. Reports can be provided in a number of formats including PDF and Excel spreadsheets.
Closing share and option pricing, dividends declared, dividends paid or reinvested and other corporate actions are updated each day, so that investors can see their total state of affairs, income, tax, valuations etc, as at the close of business on the previous day.
Shoebox’s performance calculations take into account: Realised gains/losses, Unrealised gains/losses, Income/distributions during the period and Franking Credits. The result is a performance figure (eg 14.2%) that would be very difficult to calculate from excel (because the cashflows are so uneven and both income and capital gains (realised and unrealised) have to be taken into account.
The returns can also be instantly compared with a number of market indices. The question “how am I doing compared with the market as a whole?” is answered instantly and continuously.
Forget quarterly reports posted to the wrong address. All your info is available through the web at work and at home, or wherever you may be covering:
• all ASX listed shares, exchange traded options and short sells,
• 8,500 managed funds,
• private assets such as rental property and private equity
• All asset classes can be included; equity, property and fixed interest investments.
• all types of portfolio structures; Individual, Joint/partnership, Superannuation Fund, Company, Trust
Even well organised records may need re-keying into the software packages used by accountants. This can add unnecessarily to accounting costs. The shoebox service includes interfaces with common accounting software packages including Quicken, Solution 6 and BGL.
Many clients need to track investments separately. For example, in superannuation funds, some investments backing pension payments may be tax free, while others, supporting accumulations, may be taxed. Personal investment portfolios may enjoy discounted CGT for investments held longer than 12 months, while trading portfolios may not.
Investments might be held in a variety of investment vehicles; superannuation funds, family trusts, private companies or individual names of family members. Any number of portfolios can be separately tracked by Shoebox, and Shoebox can also provide a consolidated view of all asserts across a number of portfolios.
Clients can authorise advisers/accountants to access reports, and to download them to software including Quicken, Solution 6 & BGL.