[GNC] Australian Foreign Investments Taxation

pobox.deva at outlook.in pobox.deva at outlook.in
Tue Apr 7 06:47:41 EDT 2020


Ben,

I use the CSV Price Importer for loading stock/mutual fund prices every month (all in INR).

Though I haven’t used this in the context of currency exchange rates, I think it should be possible because you are essentially converting price from one commodity to another in both scenarios.

The CSV Price Importer works very well and it even has a Save Template option, which you can reuse on future imports.

Easy, peasy!

Cheers,
Deva

> On 07-Apr-2020, at 2:52 PM, gnucash-user-request at gnucash.org wrote:
> 
> Message: 12
> Date: Tue, 07 Apr 2020 19:22:19 +1000
> From: Ben Stanley <ben.stanley at gmail.com <mailto:ben.stanley at gmail.com>>
> To: Christopher Lam <christopher.lck at gmail.com <mailto:christopher.lck at gmail.com>>
> Cc: GnuCash users group <gnucash-user at gnucash.org <mailto:gnucash-user at gnucash.org>>
> Subject: Re: [GNC] Australian Foreign Investments Taxation
> Message-ID:
> 	<17153f294f8.27d0.e122910561de4a0ea07b2811c86c2b6f at gmail.com <mailto:17153f294f8.27d0.e122910561de4a0ea07b2811c86c2b6f at gmail.com>>
> Content-Type: text/plain; format=flowed; charset="us-ascii"
> 
> I can get a CSV file of daily exchange rate data. Is there a way of 
> importing it into the price database?
> 
> On 7 April 2020 7:17:54 pm Christopher Lam <christopher.lck at gmail.com <mailto:christopher.lck at gmail.com>> wrote:
>> The only report which is capable of using closest-to-date conversion is the 
>> Transaction Report from the Income:Dividends(USD) and Income:CapGains(USD) 
>> accounts, using a Report Currency of AUD. It will choose the USD/AUD price 
>> from the price editor list closest to each transaction's posting date.
>> 
>> You'll have to ensure the price list has prices at your desired dates manually.
>> 
>> 
>> 
>> On Tue, 7 Apr 2020 at 09:13, Ben Stanley <ben.stanley at gmail.com <mailto:ben.stanley at gmail.com>> wrote:
>> 
>> Hello Gnucash people,
>> 
>> This question may be more suited to Gnucash developers, but lets try it
>> here first.
>> 
>> I need to perform a tax calculation in accordance with instructions from
>> the Australian Taxation Office. All foreign income, deductions and
>> foreign tax paid must be converted to Australian Dollars for tax purposes.
>> 
>> https://www.ato.gov.au/Business/International-tax-for-business/In-detail/Investing-overseas/Converting-foreign-income-to-Australian-dollars/ <https://www.ato.gov.au/Business/International-tax-for-business/In-detail/Investing-overseas/Converting-foreign-income-to-Australian-dollars/>
>> 
>> The conversion used must correspond to the transaction date.
>> 
>> In Gnucash, it would appear that the price editor could be used to enter
>> the necessary conversion data, if it were easy to see all of the dates
>> where conversions are required. However, this is tedious.
>> 
>> Far better would be to use Finance::Quote to fetch the necessary
>> conversion data for the dates it is required for. However, it seems that
>> Finance::Quote is only capable of fetching "recent" data. (The
>> documentation that I looked at seemed to be very old.)
>> 
>> http://finance-quote.sourceforge.net/documentation.html <http://finance-quote.sourceforge.net/documentation.html>
>> 
>> What is needed is the ability to pass a date, or a range of dates, and
>> request Finance::Quote to fetch prices for that date or date interval.
>> This would make Finance::Quote far more useful than just fetching the
>> most recent price data.
>> 
>> Is there some feature in Gnucash that I have missed that would allow me
>> to generate a report, with dividends and Capital Gains converted from
>> USD -> AUD using the currency conversion as at the transaction dates?
>> 
>> Thanks,
>> Ben Stanley.
>> 



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