Two Pool Calculations
Do you know that you can do two pool calculations in FamilyProperty now, or more to the point, you can make FamilyProperty do the two pool calculations for you?
To display two pool calculations click on the "more" tab and select "settings", and then enable "show two-pool calculations in the final outcome". This will then display the two sets of totals in the "outcome" panel at the bottom of the balance sheet.
You can also exclude superannuation from target percentage outcomes now too. You'll find an option to "exclude super from outcome calculations" at the bottom of the target percentage outcome configuration.
Go to the Balance Sheets Menu and select Apply calculations.
Click yes on "Define a target percentage outcome" and then when you are putting in the calculation make sure that you click yes for "Exclude superannuation from target percentage outcome calculations".
Click "Yes" for "Define a target percentage outcome (for super only)" and also click "Yes" for "Show two-pool calculations in final outcome."
Make sure that you tell FamilyProperty which super fund to adjust (generally the largets one).
Now our program will make those calculations for you, you will have a line item for the necessary cash payment, the superannuation has been calculated for you, and you have a percentage split with and without superannuation.
We are hosting a free webinar next week on Superannuation and Family Law with Dan Blackman from superinfo.com.au
We will cover complex issues like how to value defined benefit schemes for family law purposes and how that is different to scheme purposes, and more straightforward issues like what to do with the questions on the Application for Consent Orders. We will also cover topical issues like how to treat withdrawals made from superannuation as a result of COVID. If you would like to attend then please complete the form below.
If you can't make it on 10 August 2020 but you want to be sent a copy of the video then please complete your details here.