You can use tax expense based expenses to process expenses based on the amount of other expenses. For example, the system can calculate tax expense based expenses based on the daily activities for income, unrealized, and realized gain/loss. You can set up expense based expenses at the total fund level and at the class level. A class level tax expense based expense can have different expense rates for each class.
The system derives tax expense based expenses by applying a fixed rate to the balance of a set of expenses/fees associated with ledger accounts. You can set up a Ledger Activity type adjusted NAV expense rule with criteria that can identify one or more ledger account ranges associated with expenses from the Income Statement, along with long/short criteria. Tax expense based expenses do not use tier rules. Because calculations for tax expense based expenses depend on amounts calculated for other expenses, you do not process tax expense based expenses until the daily profit loss calculation completes.
For example, you can use tax expense based expenses to calculate a tax expense for interest tax, CGT (realized) tax, or unrealized tax by applying a tax rate on specified ledger balances associated with other calculated expenses.
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