If you’re in the net wealth area and see Entities, this page explains what that means in Rask.
Wealth entities vs tax structures
Rask now separates two concepts:
- Wealth entities: tracked assets/liabilities/accounts used in your net worth view (for example, property, mortgage, cash account, portfolio holding).
- Tax structures: legal ownership structures (for example, family trust, SMSF, company, partnership) used in Fact Find and portfolio owner selection.
An asset (property, investment account, or cash account) can be a wealth entity and still be owned by a tax structure.
Why wealth entities exist
Wealth entities are used to:
- Track current value and history over time.
- Explain how your net worth is calculated.
- Link related items (for example, a mortgage to a property) to show equity and LVR.
Where wealth entities come from
- Fact Find: asset and liability sections create/update wealth entities.
- Quick add: you can add assets/liabilities directly from Net Wealth Tracker.
- Integrations: connected data feeds can create/update entities.
Viewing your ownership structure (map)
The Wealth Entities page has a Map view (available on desktop). It shows your complete ownership structure as an interactive diagram:
- Rectangles — Trusts (Family Trust, Unit Trust, SMSF)
- Circles — Companies (operating or bucket)
- Cards — Individual assets (property, investment, cash, super)
- Arrows — Legal ownership or beneficial interest links
The map is automatically populated from your Fact Find and Quick Add data. You can drag nodes to rearrange the layout.
Managing wealth entities
On Wealth Entities:
- Add entity to create a new tracked asset/liability.
- View/Edit to update details and value history.
- Archive to remove from current totals while keeping history.
- Link liabilities (property + mortgage) for net equity and LVR.
Assigning bank accounts to structures (cashflow attribution)
If you have bank accounts that belong to a family trust, company, or SMSF, you can assign them in Cashflow → Advanced tab → Connected accounts.
- Click the “Attributed to” badge next to any account.
- Choose a tax structure from the dropdown (or “Personal” to unassign).
Once assigned, your cashflow data will be attributed to the correct legal entity — helping Rask build more accurate tax modelling and advice.
Tax estimates from live bank data
Once you’ve assigned your bank accounts to the right structures, Rask can use your actual transaction history to estimate your tax position for the financial year.
Note: These are estimates based on transaction categories — not a precise tax calculation. Rask can’t automatically determine whether your dividends carry franking credits, or whether capital gains qualify for the 50% discount, from transaction data alone. For precise advice, speak to your adviser who can refine the income breakdown.
Tax estimates from cashflow are available in the Tax Forecast tool once you have connected accounts attributed to at least one structure.
Where to manage tax structures
Use Fact Find to manage trusts, SMSFs, companies, and other legal structures in the Tax Structures step.