Corporate fund Qantas Super will use GBST to manage and calculate capital gains tax (CGT) under the new CGT relief regime.
GBST and Qantas Super have signed an agreement that will see the corporate super fund adopt GBST's TaxIntell capability to calculate CGT.
Under new superannuation legislation, complying super funds are granted from relief from the tax consequences for capital gains accumulated before 1 July 2017.
From 1 July 2017, capital gains are taxable in cases where the total super balance for a member is greater than $1.6 million.
Qantas Super will use GBST's TaxIntell to manage the transition from the current CGT system to the new arrangements.
Qantas Super chief operations officer Peter Savage said: "It’s important to our members that we seek the best solutions for them. This includes managing their benefits as tax-effectively as possible so they extract maximum value from the super savings that they’re working so hard to accumulate."
"Our collaboration with GBST has seen us navigate complex tax changes and identify an innovative solution that will improve investment outcomes for our members, and help us continue to build our members’ confidence in their financial future," Mr Savage said.
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