Is there a possibility that sharesight could provide support for bonus share plans (aka dividend substitution share plans) for securities that offer them? There are a few companies that offer these plans (the two big ones were AFIC and Whitefield but I’ve seen a few others including I think ANZ now offer something similar). My understanding is that sharesight cannot track these manually with the DRP as shares issued under these plans are not considered taxable income and are considered to have been acquired as $0.
My work-around for this has been to manually reject the dividend payment that sharesight auto-generates, then obtain the number of bonus shares issued from my share registry and manually add a transaction to sharesight to reflect that. It would however be really good if this could be automated.
My work-around for this has been to manually reject the dividend payment that sharesight auto-generates, then obtain the number of bonus shares issued from my share registry and manually add a transaction to sharesight to reflect that. It would however be really good if this could be automated.
+1. I dislike rejecting the automatic dividend as I’m worried I’d lose a record of the Franking Credits, Dates etc, so I let the automatic transactions sit there unconfirmed, and still manually enter the Trade as a Bonus. However, this is both tedious and messy.
Can see this Feature Request has had approx 1000 views - can anyone looking for this feature please ‘heart’ RM2020’s original comment?
Shareshight - can we please get a response on this feature request?
Hi @simonm thanks for the feedback. We haven’t got any plan to build this at the moment but we are constantly monitoring to priorities features that our customers wants. Currently the workaround for DSSP are:
Tick ‘Non-Taxable’ in the dividend trade
Delete any franking credits
Total net dividend amount should all be added under ‘Unfranked amount’