Hi all,
First time needing to provide my investment returns breakdown for EOFY with Sharesight and just trying to determine what is the “ideal case” for documentation to export from the platform to provide to my accountant.
Have run the Capital Gains Tax Report and played around with the sale allocation methods (FIFO, LIFO etc.) which change little for my holdings.
Do I need to do anything more than provide him with an export of the PDF of this report that shows a the breakdown of my capital gains vs. losses?
E.g, will this typically be enough to keep the ATO happy while maximising my returns? Or are other sections/reports required?
Thanks!
Welcome to the Community @MattoH,
This thread should give you the details of the available reports and some helpful insights from other users.
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I think that is likely all you need give him for a personal tas return. If you have given the share registry companies your tax file number (I am assuming you are in Australia) the tax office knows all your local dividends and franking anyway. When your accountant lodging the online tax return this would pop in for him. If you have shares not listed in Australia (Eg US shares) and or have not given the local registries your tax details you will need the taxable Income report. This gives you all the dividends and franking. If your return is for an SMSF you may need more.
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Excellent thanks @goronwyprice… yes am located in Australia and most of my holdings are ASX, a couple of NYSE though so shall provide the taxable income report. And yes it’s just a personal return, no SMSF etc.
Much appreciated, cheers 