How to create a Scenario Comparison Report — one of the most powerful reports available in ChangeGPS TaxPlan.
Base information
Once you've created a Base Scenario tax plan and your Tax Planning Strategies, you can see as few as one or multiple orange scenario tabs:
- Select your preferred tax planning scenario by clicking the blue dot of the orange scenario tab you wish to recommend.
Generating a Scenario Comparison Report
To create the Scenario Comparison Report:
- click the green Reports button top right of the screen to open the Export box
- select Scenario Comparison (.docx)
- this report will download as Word doc and automatically opens and populates your report with your firm’s logo and details on the front cover
Tax Plan – Scenarios
The report presents the Base Scenario showing tax assessed and final tax payable.
Underneath that is the Tax Planning Strategies (RECOMMENDED) scenario. Not only does this section pull the data from your base information, but it tells your client how much tax they will be saving.
Super contributions
The report takes into account super contributions tax payable by the super fund if a tax deductible super contribution has been modelled for the client. There is also a comment stating that calculations are only made on the tax effect of super contributions.
Tax saving recommendations
Overall tax savings are listed for your client’s consideration at the end of the report.
You can further edit or customise the report to suit your purposes so your clients fully understand your recommendations.
You can also have as many scenarios as you want (TIP: we like doing scenarios where you might have one strategy per scenario that build upon each other - view video here).
Watch our full instructional video below: