Bravura Solutions Limited (Bravura) (ASX: BVA), a leading global supplier of transfer agency and wealth management software applications and related professional services, is pleased to announce enhancements to its Garradin private wealth and portfolio administration solution to support clients with legislative change to taxation.
The legislative change, specifically Subdivision 124-G and 124-H of the Income Tax Assessment Act 1997, affects the application of roll-over tax treatment for shares. The Garradin tax platform provides its clients flexibility in tax reporting and consistency with current tax legislation.
Darren Speirs, Head of Portfolio Solutions (Garradin), Bravura said: “Supporting legislative change and ensuring our solutions allow clients to meet tax requirements at all times - with minimal operational disruption - is core to our offering.
“The most comprehensive tax platform available in the Australian market, Garradin provides seamless, timely and accurate reporting on tax changes. It can be deployed as a standalone solution or with other Garradin modules to provide a comprehensive asset management solution”.
The enhanced Garradin tax platform allows users to configure an asset against capital or revenue. Corporate actions that result in rollover relief can be applied to both capital and revenue based assets.
Garradin is a comprehensive, multi-currency investment management system with integrated asset management, registry and tax management functions. It is a single, fully modular system that can be deployed across multiple sectors.