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MyPAS is the ideal administration tool for self-managed investors who need a highly automated tool that will provide daily income and value updates of all ASX listed stocks and funds, together with sophisticated “hands off” recording of their corporate actions, such as mergers, demergers and capital reconstructions You can confidently go back to your Dividend Reinvestment Plans knowing that each such transaction is automatically accounted for and cost bases tracked.
My P.A offers investors direct access to this state-of-the-art, online portfolio administration service, for an annual subscription fee
You will be given password protected access to use the service to do your own investment portfolio administration 24 hours a day.
Your portfolio transaction history must then be uploaded into the system either manually – transaction by transaction, via a spreadsheet upload or directly from Quicken .qif files, Visiplan or a number of other sources. Once you hit the Recalculate button all the corporate actions since the inception of your portfolio are bought in, and you will have your current CGT cost bases ready to be updated on a daily basis
Contract notes can be loaded electronically direct from your chosen broker/s, and each portfolio is re-valued at the close of business. Your CGT position is also calculated daily.
The unique CGT capabilities of the service mean that before you sell any shares you can run a hypothetical transaction through the MyPAS CGT optimisation feature. Applying a process of parcel selection, method selection and sequential loss offsetting MyPAS can improve the after tax performance of your portfolio. Where trading losses have occurred during the year MyPAS automatically identifies the most advantageous method of disposal – discount or indexed – selects those parcels that will result in the best, or optimal, tax advantage for you and automatically switches between methods to ensure you get the most value for each dollar of loss.
It is not a transactional or research based service but a pure administration service with accountant strength tax and performance reporting. Your accountant will love the detailed, accurate reporting and the ease with which MyPAS reports on-line. Once your portfolio history is on MyPAS all you have to do is confirm the predicatively entered corporate actions (reinvested dividends, bonus shares, splits, rights, reconstructed issues etc) from the documentation you receive. It takes you just a few minutes a month. MyPAS does the rest. Our help desk will assist you to get started and keep you on track, and online Instructions on how to use MyPAS are available once you log on.
What is MyPAS?
MyPAS is a state-of-the-art on-line Portfolio Administration Service with superior virtual wrap functionality and accountant strength reporting.
It is an invaluable administrative tool designed to assist you in monitoring and reporting on your portfolio. It is not intended to provide investment or taxation advice. This type of financial advice is to be obtained independently of the MyPAS service.
Features of MyPAS
NOTE: The current holdings in the portfolio must be reconstructed at a TRANSACTION level, in order to calculate correctly and future CGT activity and measure performance correctly. Collecting the Cost history can be done in two ways: From source trading data and from an unrealised position
How often is the current value of my Portfolio calculated?
All listed securities and managed fund data is updated and revalued daily. During this processing, new transactions and corporate actions are applied to portfolios.
Personal assets require manual input and revaluations. Any unlisted stocks reported by Morningstar are also updated daily.
How do I get my trades sent electronically to the MyPAS service?
The trades can be uploaded directly from your broker. The MyPAS system gives subscribers access to a downloadable template (standard letter) which can be passed onto their broker to facilitate the process.
What information do I need to enter in order for me to calculate correctly any future CGT activity and measure performance correctly?
The current holdings in the portfolio must be reconstructed at a TRANSACTION level. Collecting the Cost history can be done in two ways: From source trading data eg historic buy and sell trading activity and from an unrealised position- available from previous service provider or accountant- ideally the information should be for the year prior to the one for which MyPAS is required to calculate the Capital Gains Tax
Does MyPAS handle Imputation Credits, Foreign Tax Credits, Tax Free/Exempt?
Yes.
Does MyPAS handle GST?
Yes.
Can anyone subscribe to the MyPAS service?
Yes. MyPAS is available to corporate Clients as well as individual, self managed investors.
Is MyPAS difficult for a 'layperson' to use?
No. MyPAS is very easy to use. It has been designed to empower the self-managed investor by being a simple to use, state-of-art administration tool.
Furthermore subscribers are provided with a number of help options:
What do I need on my computer to access MyPAS?
As MyPAS is a web-based service, you will need to be connected to the internet to use the service. A broadband internet connection will ensure that all functions being carried out on the service occur at optimal speed.
How secure is the system?
Security of data is paramount. MyPAS employs the latest data security techniques to protect user data. Web servers and data management are maintained in an independent, professionally run computer centre.
The system is protected from harmful attacks by multiple walls.
User data is backed up regularly throughout the day and once a day off-site.
Secure socket layer protocol- all transactions received and transmitted are highly encrypted.
Neither the My P.A. staff nor the MyPAS system providers know your password- it is stored in an encrypted format.
We do recommend that subscribers update their firewalls, spyware and anit-virus software regularly.
How do I subscribe to the MyPAS service?
It’s easy.
You contact My P.A. via phone, fax or e-mail.
We will send you a Contract Agreement to be completed and returned to us with payment.
Once payment has been confirmed, we will send you an e-mail with your User Id and an Interim Password (to be changed by subscriber), valid for one year.
From this point on you have full access to the MyPAS on-line service as well as access to the full range of technical support options provided by My P.A. Services.
Is there a limit to the number of Portfolios I can run on MyPAS?
No. You can have any number of portfolios on the MyPAS system. Each is classified as an individual portfolio and annual subscription fees are charged accordingly.
Is there a limit to the number of transactions I can run or holdings I can have per portfolio?
No. You can have unlimited holdings and transactions per portfolio.
What happens after my subscription runs out?
Four (4) weeks before your subscription is due to expire we will send you a Service Expiration reminder notice.
If you wish to continue using the service, we will require payment of the annual subscription fee:
If you do not wish to renew your annual subscription, we require notification in writing and we will delete your records from our service.
Is the subscription fee tax deductible?
Your subscription fee is generally tax deductible. We recommend you check with your tax accountant.
What reports are available to me?
Can I customise the reports?
Yes. Subscribers can manage the parameters for which they wish to generate reports. All reports can be generated for specified time periods eg for any month, a specific quarter or a particular date range.
Tell me about the MyPAS 'What if' Scenario feature and how it works?
The MyPAS hypothetical ‘What if’ function allows subscribers to simulate outcomes without actually performing real transactions.
This remarkable simulation tool allows one the benefits of ‘trading’ in a safe, hypothetical environment without any adverse consequences.
Subscribers can determine their hypothetical capital gain/loss if they sold a particular parcel of shares or security at a particular price.
Subscribers can also do a hypothetical ‘What if’ to determine their hypothetical profit/loss if a security price where to drop to a certain level.
The ‘What If ‘tool allows subscribers to gain an increased understanding of their portfolios performance as well as the associated tax implications and risks involved with each transaction.
The MyPAS ‘What If’ tool facilitates the following simulated activities:
Disclaimer: My P.A. Services Pty Ltd offers no investment advice and does not give financial product advice; we make no decisions in relation to your portfolio. We do recommend you seek professional investment advice that meets your particular needs and circumstances.
| www.mypas.com.au pty ltd (a.c.n. 149 984 225) GPO Box 3619 Sydney NSW 2001 Australia |
Help Desk and Enquiries: 02 8256 2100 Fax: 02 9231 2199 Email: mail@mypas.com.au Send an enquiry |
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