4.2.1 Asset Disposal: Direct Equities, Hybrids, Unit Trusts, Managed Funds

To record disposal of direct equities, hybrids, or units in Unit Trusts or Managed Funds, select the ASSETS tab, then click the ASSET DISPOSAL button, select the Account, and choose the Asset.

If you choose a Direct Equity, Hybrid, or Unit in Unit Trust or Managed Fund for disposal, Mclowd will display this screen:

Asset Disposals|Direct Equities, Hybrids and Managed Funds

Enter the date of disposal by selecting from the popup calendar.

Enter the Sale Proceeds (sale price) and the Volume sold.

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.

Asset Disposal Method selection list

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.

Asset Disposal Manual Method 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.

Asset disposal|automated disposal method

Select the Account into which the proceeds of this sale will be deposited.

When you are satisfied with the selection and results, click DISPOSE OF ASSET to finalise the disposal.

about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding. Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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