Assets - Technical overview - 1

Item	Field	Where can I find this?	What is it?	Example
0	Description	Fact Find input	This is the owner of the asset selected on the Fact Find.	BHP
1	Owner	Fact Find input/Optimisation	This is the owner of the asset selected on the Fact Find. For “New” assets, the Owner of the asset is determined by the optimisation engine. Potential owners include: Client, Partner, Joint, SMSF, Trust, Private Company.	Jane
2	Creation Type	Calculated	An asset is either “existing” or “new”. If new, the asset previously did not exist.	Existing
3	Starting units	Fact Find input/Optimisation	This is how many units of the asset we own at the start of the period. If a new asset this will be set to 0.	1
4	Type	Fact Find input/Optimisation	Existing assets are linked to an asset type via the Fact Find. New assets are determined by the optimisation engine.	Listed Equity
5	Is Income ReInvested	Fact Find input/Optimisation	If re-invested this will impact the Future Value formula for this asset holding. Income will not be sent to the savings account.	0
6	Start Unit Price	Calculated	If an existing investment, then this is . For new investments the unit price is set to be $1.	1
7	Cost Base Per Unit	Calculated	Purchase price / units	0.8
8	Starting units	Fact Find input	This is the starting units held for this investment. Note: For new assets this will default to 0.	1000
9	Units sold – Discount method	Optimised decision	Optimisation algorithm determines how many units to sell.	0
10	Units sold – Index method	Optimised decision	Optimisation algorithm determines how many units to sell.	0
11	Units sold – No CGT	Optimised decision	Optimisation algorithm determines how many units to sell.	0
12	Units sold – Full CGT	Optimised decision	Optimisation algorithm determines how many units to sell.	0
13	Units transferred in-specie – SMSF	Optimised decision	Optimisation algorithm determines how many units to transfer.	0
14	Units purchased	Optimised decision	Optimisation algorithm determines how many units to purchase.	0
15	Transaction costs	Calculated	Sum of asset proceeds * percentage transaction costs + dollar transaction costs.	1000
16	Revised units	Calculated	Starting units – (Items 9 – 13) + Item 14	1000
17	Growth Rate	Assumptions	Growth rate is determined by the asset type and the assumption setting the adviser wants to use (see assumptions).	0.05
18	Income Rate	Assumptions	Income can be either passed down via the Fact Find, or an assumption (see assumptions). This depends on asset type.	0.03

Value:

19	Current Value	Calculated	Starting units * Starting unit price	1000
20	Purchased	Calculated	Units purchased * Start unit price – Transaction costs	0
21	Sold	Calculated	Units sold * Start unit price – Transaction costs	0
22	Revised Value	Calculated	Revised units * Start unit price	1000
23	Income	Calculated	Revised value * Income rate	30
24	End Value	Calculated	FV calculation. Note: If Income is “Reinvested” this will be included in the FY calculation. Otherwise, income will be directed straight to Savings.	1050

Capital gains tax implications

25	Gross assessable gain – Discount	Calculated	(Starting unit price – cost price per unit) * units sold – transaction costs	50000
26	Assessable gain – Index	Calculated	(Starting unit price – cost price per unit) * units sold – transaction costs	45000
27	Assessable gain – Full CGT	Calculated	(Starting unit price – cost price per unit) * units sold – transaction costs	15000

Tax – Company

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