Sharesight users - Feature Requests

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.

 

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

 

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.

 

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.

 

That’s a great suggestion!

That could be applied to a backtest.

 

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.

 

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

 

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.

 

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.

 

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?

 

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 @David@Sharesight to confirm but there will be a better outcome if the fintech industry work with the ASX and government to provide better standards.

 

This is big news and very relevant to the thread:

Open Banking changes in Australia | Sharesight

Open Banking comes under Consumer Data Rights policy, share portfolios aren't the priority but the fintech industry including Sharesight are working on it.

This is the policy:

Consumer Data Right

 

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

 

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.



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.

 

@David@Sharesight - 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.

 

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.

 

Thanks David, looking into this now
cheers

 

Hi @David@Sharesight just thought I would let you know I have encountered the same issue with the ARG September 2017 payment.

 

@David@Sharesight, 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

 

@David@Sharesight 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.