Total Legal Accounting 3
The Investor Types master-file contains a list of Investor codes as proscribed by the Australian Taxation Office, corresponding to the categories of investors. The file normally does not need to be changed or added to unless the ATO changes its tables. Also the descriptions correspond to those in the ATO literature. This menu also allows you to insert related special information such as withholding tax rates.
This menu is only relevant if you are using the Mortgage and/or Securities function of T.L.A.
The INVESTOR TYPES MENU is accessed as item 5 from the CLIENT/TRUST TABLE MAINTENANCE MENU. On selecting this function, the following will be displayed:
To return to the CLIENT/TRUST TABLES MAINTENANCE MENU, press <ESC>.
Fields available on the INVESTOR TYPES file.
INVESTOR TYPE This is a single character alphanumeric field. The types are those defined by the ATO. There are also special codes, which need to be defined, but have no definition in the ATO files, eg Aged Pensioners are assigned a code of 444444441. In T.L.A. the Investor Code is 1 and is automatically expanded to the full code on reports.
DESCRIPTION This is the description of the type. Normally special codes (eg type 1) have the translation value (eg 444444441) included to help you when assigning a code to a file.
NON-RESIDENT WITHHOLDING TAX Only non-resident codes need to have a value here. This value is used in Mortgage and Securities reports and in Mortgage Transfers.
LAST MODIFIED This stores the time and date of the last time the record was modified.