NEW3.03.05 · Released 25 February 2021
NEWfinPOWER Connect
Released in
3.03.05
25 February 2021
  1. Opened16 Jan 2020
  2. Closed25 Jan
  3. Released25 Feb
Article 17796 Job J023547

Documents; "Client Interest Advice" document has been updated

The "Client Interest Advice" sample Document has been updated as follows:

  • Client did not receive an Advice if they weren't the main Investor of at least one Deposit Account
    • Now all Account's a Client is an Owner of should be reported upon
  • Muliple tables are now shown for each group of Investors
    • For example:
      • One table shows all Investments soley owned by the Investor (Investor A)
      • A second table shows all Investments jointly owned by the Investor and Investor B
      • A third table shows all Investments jointly owned by the Investor and Investor C
      • A fourth table shows all Investments jointly owned by the Investor and Investor B and Investor C
  • New option to show the average Withholding Tax Rate in the Investment summary
    • Set constant "ShowAverageWithholdingTaxRate" to True
  • New option to highlight Investments where the Withholding Tax Rate on an Interest transaction is above the specified Rate
    • This has been added for NZ, where you must provide Resident Withholding Tax Certificates to Investors who have not provided their IRD Number and are therefore taxed at the non-declaration rate of 45%
    • Set the Rate under constant "WithholdingTaxRateThreshold"
    • This adds an additional column in the Investment summary "*" and a footnote noting "These Investments have had interest transactions that have been taxed at the non-declaration rate. The non-declaration rate is used if we did not have your IRD number when the interest was credited."
  • A new option to only print Advices where the highest Withholding Tax Rate is greater than the "WithholdingTaxRateThreshold" constant
    • Set constant "WithholdingTaxRateThresholdCreate" to True to create Advices for all Clients
  • Where a Client has not provided an IRD number and you wanr to run the Interest Advice for those Clients only, set the constants as follows:
    • WithholdingTaxRateThreshold = 45%
    • WithholdingTaxRateThresholdCreate = False

The following sample Document has been updated:

  • Client_InterestAdvice.xml
    • Version: 1.01 (25/01/2021)