Praemium signs 5-year contract with CMC Markets

Michael Ohanessian

Michael Ohanessian

Praemium has announced that it has signed a 5-year contract with CMC Markets Stockbroking Limited (CMC) to provide Tax Tools, Praemium’s advanced tax reporting solution.

Praemium has been providing Tax Tools since 2008 to a key institutional client at a previous minimum contract value of $1 million per annum.

Under the new Agreement, Praemium will continue to provide tax and CGT optimisation tools for existing Tax Tools users, who will transition to CMC.

These transitioned portfolios will retain the minimum contract value of $1 million per annum over the 5-year term.

Incremental revenue may also be derived from additional portfolios of the transitioned service or from the addition of new CMC white-label clients.

Praemium CEO Michael Ohanessian said, “We are very proud of Tax Tools, which we have provided to many thousands of investors over the past decade. Tax Tools enables investors to consider the tax implications of transactions before they are executed.

Tax Tools users also receive an accurate year-end tax report that covers all ASX-listed plus 4,000 international securities, making year-end tax reporting pain free.

Tax Tools has been a significant differentiator for our clients and we are pleased to be able to extend this service in partnership with CMC.”

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