Stapled Securities Trust Distributions in Australia

I use Reckon Personal Plus in Australia. Is there a way of posting Stapled Securities Trust Distributions in Investing accounts?

For example distributions from Transurban or Cromwell. The only choice on the transactions menu (Fund Trust Distribution) posts to CGLong, which is completely incorrect.

There must be a better method!

Answers

  • GerryWinter
    GerryWinter Accredited Partner Posts: 1,147 Personal Range Expert Personal Range Expert

    Give me a call in the morning to discuss.

    Gerry 0418907140 

    [email protected]

  • 867673
    867673 Member Posts: 2

    Hi Gerry,

    I think I've worked this out. Although Personal Plus is sold as an Australian Product it uses USA Tax logic for the distributions. So basically I need to create a number of transactions to handle the distribution, a little bit of work each time, but not too bad.

    The example I have is for Transurban - Distribution on Stapled Securities.

    First part is - Transurban Holdings Limited Dividend, which consists of Dividend, franked and unfranked, and Franking credit. No problem here.

    Second part is - Transurban Holding Trust Distribution which consists of:

    • Non-Assessable Component
    • Interest Income
    • Rent and Other income
    • Non-Concessional MIT Income
    • Franked Distribution

    So for these I needed to create a series of individual transactions, one for each income type. Although, to make it easier I'll probably just enter three transactions, one for dividends, one for non-assessable, and group all the rest in one transaction.


    Thanks,

    Richard

  • GerryWinter
    GerryWinter Accredited Partner Posts: 1,147 Personal Range Expert Personal Range Expert

    I am glad you worked all that out, your a better man than me!

    Gerry 0418907140 

    [email protected]