Should an investment in 'Futures' within a Portfolio have a market value at year end?
The Fund i'm dealing with has an Interactive Brokers Portfolio, the Net Asset Value on the Portfolio doesn't include a value for the Futures. Further down in the report there is a futures amount included in 'Open Positions'.
Any advice or input would be greatly appreciated.
Hi Erin
Yes I would expect an open futures to have a market value at year end. It is hard to comment without knowing the details. I would contact Interactive Brokers to confirm their value at year end.
You can read more about futures at:
1. BGL re accounting for futures
https://support.sf360.com.au/hc/en-au/articles/360018424411-How-to-record-futures-contracts
2. ATO re interpretative decision - ATO ID 2010/7 - Self managed superannuation funds: tax treatment of futures contracts
https://www.ato.gov.au/law/view/document?DocID=AID/AID20107/00001&PiT=99991231235958
Thanks
SMSF AAA