Can I exclude the sale of an equity from the Capital Gains Report?

I sold my holdings in ACR (Acrux) which carries ATO classification as a Pooled Development Fund. This means that all CGT events are disregarded. ie Any capital gain becomes non-assessable.

Link: (https://www.ato.gov.au/Individuals/Ta...)

How can I reflect this correctly in the Capital Gains Report within Sharesight?
2 people have
this question
+1
Reply
  • Hello Sharon,

    Thank you for getting in touch! Unfortunately, we can't mark a particular holding as CGT free in Sharesight.

    The workaround will be to run the CGT report, export it into a spreadsheet, then take ACR.ASX out.

    The issue you raised is quite valuable and we are thinking of building a "generic" platform where you can apply more customisation.

    Thank you for your support!

    Cheers,

    Emma
  • (some HTML allowed)
    How does this make you feel?
    Add Image
    I'm

    e.g. happy, confident, thankful, excited kidding, amused, unsure, silly indifferent, undecided, unconcerned sad, anxious, confused, frustrated

  • Thanks Emma - I have done the workaround as suggested. One possible option that might be easy to implement is to add a "sale allocation method" option that is "exclude from CGT" - in which case the report would either ignore the holding or leave it on the report with a zero CG gain or loss. Just a thought. Thanks for getting back to me.
    Cheers
    Sharon
  • (some HTML allowed)
    How does this make you feel?
    Add Image
    I'm

    e.g. happy, confident, thankful, excited kidding, amused, unsure, silly indifferent, undecided, unconcerned sad, anxious, confused, frustrated

  • I'd agree this would be useful to have in Sharesight.

    Another use case here would be transferring shares to a registered (or tax free savings) account (Canada tax base) where a capital loss exists on the equity. In some cases, this is an option if someone wants to get the equity into a tax-free account, and its not worth the hassle of washing a trade to get it there (due to commissions, time, etc).

    In that scenario, the loss cannot be realized by the investor.

    It would be good to have a way to disable a trade from the capital gain total (perhaps via a checkbox with an associated comment).
    If its not a very common use case, it would be ok to have in an advanced setting.

    Agreed that the spreadsheet approach is a workaround, but I would suggest that the move to Sharesight was to try and get away from the spreadsheets.
  • (some HTML allowed)
    How does this make you feel?
    Add Image
    I'm

    e.g. happy, confident, thankful, excited kidding, amused, unsure, silly indifferent, undecided, unconcerned sad, anxious, confused, frustrated