Annual Tax Components impacting net dividend distribution amounts.

Reporting & tax
1

Hey so I have noticed something I’m not sure about. Throughout the year when I record my distributions from my ETFs (for eg VDHG) I make sure the net payment amount is correct, with the dividend price per share. Then when I receive my tax report, I enter the tax components for the ETF in sharesight. I’m noticing 2 things:

  1. When I update the amounts, the net distribution payment in that FY changes, sometimes by a couple cents and other times up to $10. For eg, VDHG on 01/04/22, paid $0.7526 per share (according to my statement at the time) with 214 securities I received a net payment of $161.06. I recorded this correctly in sharesight but after entering the tax components the net payment comes up as $165.76, a $4.7 difference. Looking at the amount per share it is still $0.7526 though.

So my question for this is…is that expected? I can acknowledge ETFs confuse me a lot, but even if cost base and stuff changes I can’t understand why the net payment would change. It’s not like it’s balancing out in the rest of the financial year either.

  1. I’m noticing that when I enter the tax components, it refuses to accept some values. If I update all values, (including zero values), it’s usually out by a couple cents, and this is because it will have changed some input fields to have on or two cents more or less. No way to lock it in at what I set it.

Any thoughts would be greatly appreciated thanks! I keep a personal spreadsheet as well that I record, which doesn’t account for AMIT, and am starting to wonder if I should be updating the net payments in there to match the incorrect ones on share sight.

2

Here is an example of what the tax components should be, but when I hit save they revert to the ones shown (VDHG 21-22)

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Even before I hit save the total isn’t correct (501.96 instead of 501.93).

3

Thoughts anyone? Greatly appreciate any help or insight :slight_smile:

4

May not be related but I have noticed trying to fix errors in mutual fund auto-generated distributions that some of the tax-related fields cannot be changed - well you can change them but they are immediately overridden as soon as you save the distribution record. There is no way I could find to fix this except to delete every single historical distribution generated by the system and enter them manually.

Why sharesight would do this I have no idea but it seems to spring from the mindset that everything has to fit in it’s own limited frame of understanding of what clients need to do, often incorrectly I might add. I could rattle off numerous examples but that would be a rant and serve little purpose.

Good luck with the spreadsheet. I have to do the same as well for multiple investments and it’s painfully inefficient.