Hi flywire, For the purpose of being able to report on the cash distribution amount while also tracking the attributed income for tax purposes, I use a contra income account under the "Income:Distribution" account. Using account names similar to your example, this would look like the following:
When a cash distribution is received: > Bank:Savings Typically 2-4 payments 23,053.38 > Income:Distribution -23,053.38 When the Australian AMIT statement is received with attribution details, create a journal entry like the following: > Income:Distribution:less attributed 23,053.38 > Asset:VAS ETF Cost base adjustment -62.21 > Income:Distribution:13Q Trust franking credits 7,069.35 > etc... You can then include "Income:Distribution" on an I&E report to see the cash distributions, and/or include the "Income:Distribution:*Q" accounts to see the attributed tax components. I hope that helps with another idea you might consider. Chris On Tue, 3 Sept 2024 at 14:29, flywire <[email protected]> wrote: > Chris Grinton > https://lists.gnucash.org/pipermail/gnucash-user/2024-September/112855.html > writes: > > ... > > Thank's Chris. > > Unfortunately that doesn't resolve the issue. Although more direct this > still passes the Asset:Bank transaction to Income:Distribution and > Asset:Shares:Costbase so Income:Distribution does not hold the full > distribution shown in my original post's linked I&E report. As I see it, > the distribution from a trust passing through another trust should maintain > its integrity. > > Workflow comments: > > With the exception of the pass-through issue, my understanding and > methodology is based on your responses to > https://lists.gnucash.org/pipermail/gnucash-user/2022-August/102351.html with > adjusted accounts. > > Subject to a report passing on the whole distribution, I agree the > Asset:Shares:CostBase component should properly be recorded as a return > of capital ( > https://www.gnucash.org/docs/v5/C/gnucash-guide/invest-retofcap.html ). > This part of the script failed when Geert redeveloped the csv import for > shares dropping share value. > > I note in Australian tax returns Part B Capital Gains TAP/NTAP > classification is not used ( > https://lists.gnucash.org/pipermail/gnucash-user/attachments/20220811/db94f391/attachment-0001.pdf#page=12 > ) > allowing the transaction to be simplified. > > While Part A of the statement reports Net and Gross capital gain (18A/18H) > the values will invariably be used in a CGT Schedule requiring Gross > (Grossed Up) Discounted and Other Method capital gain so would be better > stored as such. They can be readily calculated from Part A Net and Gross > capital gain (18A/18H). In Australia the Net capital gain discount of 50% > must be changed to 1/3 for superannuation (retirement) funds and nil for > companies. > > > Regards > _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
