Sharesight users - Feature Requests

Discussion in 'Sharemarket Investing Platforms, Tools & Services' started by wombat777, 1st May, 2018.

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  1. wombat777

    wombat777 Well-Known Member Premium Member

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    On the holding screen i’d like a cgt calculator that works out CGT impacts of selling a portion of a holding at current market or an entered price.
     
  2. wombat777

    wombat777 Well-Known Member Premium Member

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    Calculation of 100% or proportional free carry price targets, taking into account allowance for CGT.

    Edit - some hypothetical examples of free-carry price targets with a dumbed-down version of my spreadsheet, three scenarios below:
    • price target for selling with a 100% profit after tax
    • recovering 100% of initial capital and retaining the remainder of the holding after reaching a growth target
    • recovering 50% of initial capital and retaining the remainder of the holding after reaching a growth target
    Screen Shot 2018-05-05 at 10.36.05 am.png
     
    Last edited: 5th May, 2018
  3. Redwing

    Redwing Well-Known Member

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    It would be interesting to look at performance with and without new capital injections

    XIRR is a more powerful function in Excel for calculating internal rate of return or annualized yield for a schedule of cash flows occurring at irregular intervals.
     
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  4. BKRinvesting

    BKRinvesting Well-Known Member

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    It may be I just don't know where to do it, however I'd like the ability to compare my own portfolios performance against each other.
     
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  5. wombat777

    wombat777 Well-Known Member Premium Member

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    That’s a great suggestion!

    That could be applied to a backtest.
     
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  6. Ouga

    Ouga Well-Known Member

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    Thank you for your reply.
    This has prompted me to have another look at sharesight.

    I am using the free version presently.
    So, a quick look at the CGT report and I can spot some missing elements.
    I am looking at FY17 and as an example I have AFI as a holding.
    The first dividend distribution of AFI dated 30 aug 2016 includes a CGT component, however this does not feature at all in the report. Which means that the report is incomplete and I need to keep track of this separately - which for me defeats the purpose of such a tool.

    Is that an expected behaviour of the system or is it something I have overlooked on my end? I see no option to enter this information in the payment edit tab.
     
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  7. Summer of George

    Summer of George Active Member

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    Is that what we get the end of year Tax statement
    I have just started using it too and yes something I am interested in too
     
  8. mimosa

    mimosa Well-Known Member

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    Totally agree with the suggestions to a) make it clear whether performance is total or p.a - the p.a suffix should always be used when performance is p.a and b) to have the option of displaying performance with/without injection of new capital.

    Also, if I ask Sharesight to show me perfomance over a certain period in the overview tab and I have not held a particular share for all of that period, I would like that to be shown somehow (perhaps an asterix or letters like B,S) to flag that transactions for this share took place during the requested period. The performance figures are misleading if the user is not aware that transactions took place during the period.
     
  9. Ouga

    Ouga Well-Known Member

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    So I found the issue I posted last year in the community forum, regarding VAS as well picking up some random foreign income component:

    VAS incorrect dividend amount - Foreign source income component issue? | Sharesight Community Forum

    Has this been fixed?
    I have not had a chance to look at the latest statements yet to compare.

    To be honest for me reporting has to be dead accurate if I am to rely entirely on sharesight for feeding reports to my accountant for tax purposes.
     
  10. Summer of George

    Summer of George Active Member

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    I didn’t know that the Sharesight report picks up CTG type stuff from the dividends
    I assumed that the dividends show the income and the CTG comes from the end of year tax report that VAS, VGS etc give
    I give the income report and CTG report from sharesight to the accountant and then the tax report from VAS also

    Have I been doing it wrong?
     
  11. wombat777

    wombat777 Well-Known Member Premium Member

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    I think some of these issues are a result of the poor interfaces defined by ASX for reporting.

    Companies report and announce using PDF formats which aren’t the best for automated processing by tools like Sharesight. Because of inconsistency in how information is presented, it’s tricky in software to automatically process tax reports and announcements.

    The situation would be improved if better interface standards were put in place by the ASX.

    Perhaps for @[email protected] to confirm but there will be a better outcome if the fintech industry work with the ASX and government to provide better standards.
     
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  12. wombat777

    wombat777 Well-Known Member Premium Member

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  13. Ouga

    Ouga Well-Known Member

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    So, it's been a month and I am wondering whether @[email protected] or @wombat777 know whether the above has been addressed?
    I would be interested in the tool if it could provide accurate reporting.
     
  14. David@Sharesight

    [email protected] Member

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    Hi @Ouga - We're looking into the reasons why we didn't populate the correct CGT component for the Aug 2016 distribution for AFI and are following up with our LIC data provider. In most cases LICs and Managed Funds will see these values auto-populated correctly, but we recommend cross checking your dividend notice with the values in Sharesight and editing if necessary.

    Discounted Capital Gains.PNG

    To add the capital gains tax component to the Aug 16 distribution, click the corresponding income distribution record, click 'Add another field' and you'll be able to add a field for Discounted Capital Gains, or Non Discounted Capital Gains as needed. Enter the value from your dividend notice here, which will then appear correctly when you run a CGT report.

    CGT report.PNG
     
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  15. wombat777

    wombat777 Well-Known Member Premium Member

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    @[email protected] - how are you going with processing the list of feature suggestions and perhaps setting up a roadmap on implementing them. I'm happy to participate in terms of a think-tank on how some of the ideas should be implemented.
     
  16. David@Sharesight

    [email protected] Member

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    That sounds good, it's crunch time here as we approach EOFY - I will be in a position to progress this after June 30. But I have passed your details onto our team who might reach out earlier.
     
  17. Ouga

    Ouga Well-Known Member

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    Thanks David, looking into this now
    cheers
     
  18. Ouga

    Ouga Well-Known Member

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    Hi @[email protected] just thought I would let you know I have encountered the same issue with the ARG September 2017 payment.
     
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  19. Ouga

    Ouga Well-Known Member

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    @[email protected], so do you then deduct the Discounted Capital Gains amount from the franked amount so that the total income stays the same? Just double checking I am doing this correctly.
    Thanks
     
  20. Ouga

    Ouga Well-Known Member

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    @[email protected] in fact I have found several others instances across different LICs and this is not picked up. So I don't this is being picked up at the moment.
    I should mention I imported my trades today as well, so it is not old existing trades.