You are able to download statements which detail the profit and loss on each fund transaction. To make life easier for our customers we will be developing a calculator that will make it very simple for you to determine your profit (or loss) each year. For example, if you made three transactions in the same fund in one year you will have bought them at different prices. The calculator will do the hard work for you in determining the overall profit. We will release this calculator in our secure site in the coming months.
Hi ClubMan - Rabo website states tax is payable at 23% - CGT rate is 20% ??I suspect that the forms needed for filing/paying CGT arising from the Rabo funds are [broken link removed].
Sorry - my mistake in mentioning CGT above I think.Hi ClubMan - Rabo website states tax is payable at 23% - CGT rate is 20% ??
I cannot understand why people are finding it hard to understand the tax issues here......if you cash in fund, you pay 23% tax (gross roll up and not CGT) on profit...if you make a loss on an encashed fund in same year deduct from profit and then pay your 23% on the remaining amount.....what is so difficult about this????...am i missing something???
To answer the question above - I think that this is why people find this stuff hard to understand.This is only a general tax summary. Individual circumstances may differ. The tax situation may change in the future. Taxation is a complicated issue and we recommend that you seek advice from a tax adviser.
Actually if you make a loss on one fund and a gain on another you cannot offset one against the other.
Be sure to make yourself familiar with the associated tax issues for all funds except the Oppenheimer ones. If you do a search for related threads you will get some info.
Personally, I found the taxation issues to be such a pain that I discontinued my investment with the funds.
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