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.
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.
Where to manage tax structures
Use Fact Find to manage trusts, SMSFs, companies, and other legal structures in the Tax Structures step.