Capital Gains Statement - NAVRA fund

Looking at my Capital Gains Statement for the Navra fund, the calculations are based on the assumption that "the units you first acquired are the first to be disposed of". The calculations are base on units I purchased in 2004 & 2005.

However, looking at my own calculations I was going to retain the 2004 & 2005 units and dispose of some 2007 & 2008 units instead. The difference is quite substantial in my favour when calculated this way.

Am I right in thinking I can do this? As far as I'm aware this is a legitimate practice and acceptable to the ATO?

The other thing I noticed is that the Navra statement makes no mention of the Managment Costs shown on the Navra Quarterly Statements. I assume I can add these to the cost base to reduce my capital gain (or increase my capital loss) even further?

 

You can nominate any parcel you want on any basis, in a bull market First In First Out (FIFO) is one of the worst parcel selection methods, however it is the easiest to implement.

The only downside is you will need to maintain your own register of open parcels once you deviate from your fund managers tax statements and can never rely on any future realised reports.

You might try contacting your accountant to see if they have a capital gains tax package that can record your transactions at a tax lot level and give you a realised report based on Min Gain/Max loss (normally the best for most people situations)


I'm not a Navra client, however I would assume management fees are in the unit price already and thus in the cost base. Someone else should be able to clarify.

 

Thanks jabba-jones, this is exactly what I've down on my own Excel spreadsheet.

OK, sounds much more logical. Can any Navra clients please confirm this?