Portfolio Management Software

[GTM 3442]

I created a custom investment - e.g., PIE Fund or unlisted company. Then added 1 share at the price of the "opening balance" in my account. I then just keep repricing this share as the balance in the account. It then all works like intended - you can see the balance go up and down and Sharesight works out capital gains, etc.

Nice. I'll give it a whirl this monthend.

Thanks

[Airw0lf]

Nice. I'll give it a whirl this monthend.

Thanks

I have found that this approach doesn't work well for calculating the capital gains. However, it creates nice charts which can easily show how the account is tracking. So it's good enough for me for now.

[Airw0lf]

In playing around with Sharesight I have found a further issue. It looks like NZ RWT deductions aren't being calculated for foreign dividends (e.g., ASX and US stocks.) I have e-mailed support as this seems like a weird oversight.

[GTM 3442]

In playing around with Sharesight I have found a further issue. It looks like NZ RWT deductions aren't being calculated for foreign dividends (e.g., ASX and US stocks.) I have e-mailed support as this seems like a weird oversight.

I just looked at that since I had a US dividend paid today, and it looks like you're right. I can see the US witholding tax, but no New Zealand tax.

I suspect that it's a database design issue, and that "tax" can only be recorded once for a transaction - probably within the transaction detail table.

After a ten-minute-thought, I think that there would probably have to be a new table - "tax for transaction" or similar - which would be a major exercise to implement, especially in a multi-currency/multi-domicile environment.

Anyway, can you please let us know what they come back with.

PS the "hack" you found works just fine for me - thanks

[Airw0lf]

I just looked at that since I had a US dividend paid today, and it looks like you're right. I can see the US witholding tax, but no New Zealand tax.I suspect that it's a database design issue, and that "tax" can only be recorded once for a transaction - probably within the transaction detail table.After a ten-minute-thought, I think that there would probably have to be a new table - "tax for transaction" or similar - which would be a major exercise to implement, especially in a multi-currency/multi-domicile environment.Anyway, can you please let us know what they come back with.PS the "hack" you found works just fine for me - thanks

No problem - I will see what they come back with. I agree that it might not be a completely trivial exercise to implement but for someone paying at the investor or expert level tier it would not be unreasonable to expect at all IMO. Furthermore, if they don't want to implement their own calculation process for this, the least they could do is just pull the relevant data out of Sharesies, which would solve the problem for me at least since it's through them that I hold my foreign shares.

[GTM 3442]

By a happy circumstance, I had to sort out a "foreign" dividend payment, and there is provision for "foreign" witholding tax and NZ tax for the transaction.

So I'm wrong about the database design.

Now, like you, I'm left wondering why the NZ tax value isn't calculated.

[Airw0lf]

By a happy circumstance, I had to sort out a "foreign" dividend payment, and there is provision for "foreign" witholding tax and NZ tax for the transaction.

So I'm wrong about the database design.

Now, like you, I'm left wondering why the NZ tax value isn't calculated.

Yeah, there are boxes to enter both types of tax, I'm just curious as to why it isn't automatic.

[Airw0lf]

By a happy circumstance, I had to sort out a "foreign" dividend payment, and there is provision for "foreign" witholding tax and NZ tax for the transaction.

So I'm wrong about the database design.

Now, like you, I'm left wondering why the NZ tax value isn't calculated.

Just heard back from support - "Thanks for reaching out to us and sorry for the delayed response. At the moment we do not have the functionality to identify if the foreign shares were purchased via a custodial arrangement or purchased directly, hence RWT field is left blank. For now, you might need to update these data manually. Hover, we are working automating this process."

Does this make sense to you or anyone else?

[JeffW]

Just heard back from support - "Thanks for reaching out to us and sorry for the delayed response. At the moment we do not have the functionality to identify if the foreign shares were purchased via a custodial arrangement or purchased directly, hence RWT field is left blank. For now, you might need to update these data manually. Hover, we are working automating this process."

Does this make sense to you or anyone else?

Happy to admit that it doesn't make sense to me!

However, I think for many it is largely academic, as the FDR rules will apply, and the actual dividend is not taxed

[Airw0lf]

Happy to admit that it doesn't make sense to me!However, I think for many it is largely academic, as the FDR rules will apply, and the actual dividend is not taxed

They also got back to me again and said they are looking into automating for people like me on Sharesies who have the RWT deducted.