Matching ETF Tax Statement with Sharesight fields when 'dividends' come in

Hello brains trust, I am aware there are multiple threads going about this but i’m looking for a super basic understanding and am just not following the other threads so apologies in advance.

The main thing I am trying to do is ensure that when ‘dividends’ come in they are matched to the appropriate fields. I say ‘dividends’ because it was only until recently when my accountant questioned the reports i provided that I realised that income derived from ETFs aren’t necessarily dividends.

Can someone help me with this - I feel like it should be simple but want a sanity check.

Here i have the screen from Sharesight on editing a payment

Here I have the same values from the ETF tax statement

For the life of me I can’t figure out which amounts go where in Sharesight.

Currently as you can see from the screen everything is grouped as an unfranked amount of $198.50 but in the statement it seems at the very least there should be a split of $192.76 (capital gains) + $5.74 (foreign income) totalling $198.50

Furthermore this $198.50 seems to be classified as a Net Dividend in sharesight which i’m not sure is accurate?

Thank you in advance

It doesn’t work like this for an ETF. ETF distributions are not treated the same way as regular share dividends, and you cant just say franked/unfranked dividends, and franking credits. They are not dividends. This is why you see other posts on this forum asking Sharesight to make it easier for tax time by allowing you to enter what you see on your EOFY summary against the various tax labels.

If you have an accountant doing your tax for you, just give them your ETF summary and they’ll figure it out. If you are doing it yourself in myGov, when it asks what types of income you want to declare, tick Managed Funds, and then it’ll let you enter components against tax labels like 18A, 18H, 20E, 20M, 20O, which you’ll find at the top of the ETF summary. If you have more than one ETF, you can enter them individually, or just sum them all up. The tax man doesn’t care because the sum will be the same at the end regardless if you entered in NDQ, A200, VAS, separately, or just the sum of all 13U’s, 18A’s, etc.

Sharesight advised on another post that in the September time frame they get updated distribution components from ETF providers, so I imagine that they’ll then apply it to your NDQ holding and all will be good and right your Sharesight Income Statement without you having to do anything.

Hope this helps.

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