Securities Tax Manager (STM)
Our practice has used Securities Tax Manager (STM) successfully since 1994 to reconstruct and maintain client investment portfolios of ASX listed securities and unlisted Managed Funds.
With our expertise and experience, and using a highly automated system like STM we are able to deliver a highly efficient, timely and tax compliant CGT and income reporting service at reasonable cost.
STM is used to maintain portfolios and for sorting out client portfolios where records have not been kept carefully.
It’s also used in reconstructing portfolios of deceased estates and transferring these to beneficiaries so that tax positions are not only correct but are fairly divided between beneficiaries.
Key Features of STM
- Comprehensive central databases of corporate actions for all listed securities from 20 September 1985 (when CGT started in Australia) which ensures that no corporate action is overlooked especially when portfolios are being reconstructed;
- An extensive database of over 2,500 Managed Funds with distribution histories;
- Automation for tax purposes of these corporate actions within portfolios;
- Efficient and compliant handling of even the most complex aspects of CGT such as stapled securities, trusts and take-overs;
- Functions to automatically include new purchases and sales from brokers’ contract notes, annual transaction lists and other electronic sources;
- Automated reconciliation of portfolios with holdings at share registries;
- Detailed reporting of current holdings (showing market value and potential CGT) and of realised capital gains during the financial year (resulting not only from sales, but from corporate events such as take-over activity) and company and trust dividends and distributions.
Securities tax recording and reporting can be both complex and time consuming!
Contact us if you have a portfolio that is not being properly maintained or if you are the executor of a deceased estate that needs to be reconstructed and passed to one or more beneficiaries.