The Lifewealth Portfolio Administration Service takes the headache out of managing your investment portfolio and assists you in meeting the varied and often onerous taxation requirements associated with its administration.

It provides a comprehensive administrative function over a wide range of assets, including direct shares, managed funds, direct property and cash and relieves you of the necessary record keeping and associated paperwork of all investment purchases and sales, together with income received, expenses incurred and capital gains tax (“CGT”) records.

The Service provides On-line access to your portfolio via the Internet and also gives you the option of receiving printed quarterly reports. These make it easier for you to make quicker and better informed investment decisions.

Lifewealth acts as the ‘mail box’ for your portfolio by being the mailing address for all activities within your investment portfolio. This guarantees that all transactions in any given financial year are captured and reconciled within the portfolio, thereby ensuring the Tax Summary prepared at year end is accurate.

Your advisor will contact you to discuss Corporate Actions such as Rights Issues and Buy Backs. The documentation will then be forwarded to you to action if necessary.

Key Features
Assets are held in your own name

All assets are registered and remain in your name, either personally or in the name of the registered entity such as a self managed superannuation fund, company, family trust, etc.

 

Reporting

On-line access to your portfolio is available on demand and a variety of reports can be viewed, downloaded or printed.

 

Taxation

A detailed summary of the income and capital gains position of your investment portfolio is provided at the end of each financial year. You will no longer need to keep your own tax records for your accountant as the Tax Summary will show all capital gains or losses and the taxable income from each investment.

 

Cash Funds

All cash is invested in a Cash Management Account which pays a competitive rate of interest.

 

Mail Box

Lifewealth receives all correspondence relating to your investments, thereby ensuring that all transactions are recorded in any financial year. This documentation is stored for you for seven years as required by taxation law. Individual transactions can be tracked and viewed via your On-line access.

 

Portfolio Administration

In addition to the day-to-day administration and record keeping duties listed above, Lifewealth will carry out a variety of ‘one off’ activities including:

  • Prepare and lodge Tax File Number (“TFN”) notification forms with Share registry offices
  • Prepare and lodge Dividend Re-investment Plan (“DRP”) forms with share registry offices
  • Prepare and lodge Direct Credit forms with banks and other financial institutions.
  • Carry out investigations into income distributions that for whatever reason have not been automatically reconciled with Cash Management Trust statements.
  • Process and lodge changes of address with various institutions.

 

Non-Standard Assets

Assets other than listed securities or managed funds can also be included in the portfolio for reporting purposes. These can include direct property, artwork, collectables etc. and are reported at the most recent valuation figure. Any income or expenses for non-standard assets are simply recorded as deposits and withdrawals in the cash account.