To record asset disposals in Mclowd, select the ASSETS tab and click the ASSET DISPOSAL button.
Mclowd™asks you to select the Account.
Mclowd™needs you to select the Asset to be disposed of.
Disposals of direct equities, hybrids and units in Unit Trusts or Managed Funds are all entered in a similar manner.
From this point onwards, disposals of Bonds, Fixed Interest investments, Direct Property, Alternative Assets or Derivatives are handled slightly differently.
If you choose a Direct Equity, Hybrid, or Unit in Unit Trust or Managed Fund for disposal, Mclowd™will display this screen:
In case you are not disposing of the entire volume at this time, Mclowd™needs to know your preference of disposal method. You may choose to sell units
•in the order purchased (earliest purchases first, or more recent purchases first)
•in the most tax efficient manner (Mclowd™will calculate this for you)
•in the least tax efficient manner
or you can opt to manually select the specific units to sell.
If you choose to manually select, Mclowd™ will display a list acquisitions, showing the purchase date, units purchased, average cost per unit, and total cost for each acquisition.
You can enter the number of units you wish to sell from each acquired bundle, and Mclowd™will calculate the balance left and long and short term capital gain resulting from this disposal.
Should you choose one of the automated options (first in first out, last in last out, most tax efficient, or least tax efficient), Mclowd™ will display the assets parcels with units sold filled out, units left calculated, and long and short term capital gain resulting from this disposal.
When you are satisfied with the selection and results, click DISPOSE OF ASSET to finalise the disposal.
