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Tax

Posted: Wed Apr 15, 2015 12:37 pm
by AAAlphaThunder
I'm just getting my figures ready for the tax year that has just passes so I can easily file my tax return later in the year.

Where can I find my personal holding in the Cashback Investment Club so i can include them on my tax return?

Re: Tax

Posted: Wed Apr 15, 2015 12:40 pm
by garindan
underdog wrote:I'm just getting my figures ready for the tax year that has just passes so I can easily file my tax return later in the year.

Where can I find my personal holding in the Cashback Investment Club so i can include them on my tax return?
Good question and this should be added as a requirement to a consolidated private member report that has all the details of the club's performance, holdings and information for tax reporting purposes.

Rich - How can we do this part?

Re: Tax

Posted: Wed Apr 15, 2015 1:35 pm
by kevinchess1
Take the total figure here
Multlply by the most recent figure Here

Re: Tax

Posted: Wed Apr 15, 2015 1:41 pm
by garindan
kevinchess1 wrote:Take the total figure here
Multlply by the most recent figure Here
It is not quite as simple as that if someone has invested since 5th April 2015....and it would be good to automate this process for accuracy. :thumbup:

Re: Tax

Posted: Wed Apr 15, 2015 4:56 pm
by richard@imutual
Yes, the treasurer needs to produce a tax statement for each member after the end of the financial year, to show any income or capital gains that you might need to include on your tax return.

However, this year is fairly straightforward: nobody has made any capital gains or received any income

This is because:
- We have received no dividends from investments
- We haven't sold any shares and have therefore not realised any capital gains or losses

Hope that helps :)

Re: Tax

Posted: Thu Apr 16, 2015 11:38 am
by AAAlphaThunder
richard@imutual wrote:However, this year is fairly straightforward: nobody has made any capital gains or received any income
Great news no tax to pay.

Re: Tax

Posted: Thu Apr 16, 2015 11:39 am
by AAAlphaThunder
underdog wrote:
richard@imutual wrote:However, this year is fairly straightforward: nobody has made any capital gains or received any income
Great news no tax to pay.
On second thoughts not so great as that means I haven't made any money :thumbdown:

Re: Tax

Posted: Thu Apr 16, 2015 11:40 am
by garindan
underdog wrote:
richard@imutual wrote:However, this year is fairly straightforward: nobody has made any capital gains or received any income
Great news no tax to pay.
Hopefully next year we'll have made so much the tax bill will be hefty :lol: