Tax

Discussion of the proposed Cashback Investment Club

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AAAlphaThunder
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Tax

Post by AAAlphaThunder » Wed Apr 15, 2015 11:37 am

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?
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garindan
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Re: Tax

Post by garindan » Wed Apr 15, 2015 11:40 am

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?
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Re: Tax

Post by kevinchess1 » Wed Apr 15, 2015 12:35 pm

Take the total figure here
Multlply by the most recent figure Here
Politically incorrect since 69

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Re: Tax

Post by garindan » Wed Apr 15, 2015 12:41 pm

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:
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richard@imutual
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Re: Tax

Post by richard@imutual » Wed Apr 15, 2015 3:56 pm

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 :)

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Re: Tax

Post by AAAlphaThunder » Thu Apr 16, 2015 10:38 am

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.
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Re: Tax

Post by AAAlphaThunder » Thu Apr 16, 2015 10:39 am

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:
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Re: Tax

Post by garindan » Thu Apr 16, 2015 10:40 am

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:
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