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Junior Member
Group: Forum Members
Last Login: 6/06/2007 7:56:13 PM
Posts: 0,
Visits: 0
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STW have recently returned capital to their shareholders, after the sale of a subsidiary company in Indonesia.
It is not a dividend, so how do I show it because it is not income in the true sense of the word, or is it ?
regards
Geoff
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MySF Administrator
Group: Administrators
Last Login: 4/11/2010 3:24:01 PM
Posts: 464,
Visits: 633
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Hi,
Please confirm that this is a Capital Repayment.
If it is, it will mean that the cost base of the original asset (STW) will be reduced. (Normally, when this happens, you will receive information to say that a certain amount of money per unit is the Capital Repayment.)
There is a Houskeeping > Utilities > Capital Repayment area, where this can be processed. This utility will also do the reduction in cost base, and create the transaction required.
(Where this will make a difference is when the asset is sold, the capital gains are higher as the cost base has been reduced, therefore you may be liable for a higher capital gains tax amount.)
Please let me know if you would like further information.
Regards,
MySF Pty Ltd
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Junior Member
Group: Forum Members
Last Login: 6/06/2007 7:56:13 PM
Posts: 0,
Visits: 0
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Thank you, just what I wanted to know.
regards
Geoff
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