Is there an easy way to get a list of all your transactions in the year, and dividends including franking from Commsec?
I can't be buggered doing it manually. I own quite a few shares :(
How do others do their tax for this, do they send in their report to the ATO? is there are an easier way?
Anyone reckon the ATO will hammer me for being 2 months late for my return?
Argghhh...
son of baglimit
13th-December-2006, 03:24 PM
depends on your lodgement history & the result realist - thats a general summary anyway.
contact the registries for share details.
tech/a
13th-December-2006, 03:25 PM
If you hold them ---as you do---then you'll know when the cheque arrives. ;) ;)
It's Snake Pliskin
13th-December-2006, 03:27 PM
I've still yet to do my tax for 2006.. :o
Is there an easy way to get a list of all your transactions in the year, and dividends including franking from Commsec?
I can't be buggered doing it manually. I own quite a few shares :(
How do others do their tax for this, do they send in their report to the ATO? is there are an easier way?
Anyone reckon the ATO will hammer me for being 2 months late for my return?
Argghhh...
Send them a cheque before your lodgement.
son of baglimit
13th-December-2006, 03:28 PM
another option - just put everything into NMS - they dont pay divs (yet), and cos they are going so well you'll never sell - so nothing to report - see easy.
Realist
13th-December-2006, 03:40 PM
If you hold them ---as you do---then you'll know when the cheque arrives. ;) ;)
Haha, yes but I am talking about all the dividends I got last year, I just can not be buggered working out all the amounts franking percentages.
I guess there is no easy way. :(
carmo
13th-December-2006, 04:04 PM
Set up a spreadsheet in EXCEL, and put them in as you go. That's what I do.
As for the ATO, remind them that Paul Keating forgot to put in his return two years in a row.
Realist
13th-December-2006, 04:10 PM
As for the ATO, remind them that Paul Keating forgot to put in his return two years in a row.
Haha. Brilliant!!! :p:
Mouse
13th-December-2006, 04:18 PM
Set up a spreadsheet in EXCEL, and put them in as you go. That's what I do.
I'll second that. I also include on the same spreadsheet details of how many shares I bought and sold and the prices and codes so that it's all in the same place and easy to juggle.
Or ... I have a program called Fund Manager that keeps track of everything so that theoretically I can just print it out, but I'm still working out how to use it (I'm just a beginner).
cheers
Mouse
**editted to add link to programs home page http://www.fundmanagersoftware.com/index.html
deftfear
13th-December-2006, 04:36 PM
Most of the share registries (computershare and link market services) have internet sites that you can go to and put in your srn, hin etc and they can tell you what dividends were paid last year and the franked amounts paid. Not too time consuming, I do this at work if peope bring in one dividend statement and there should be 2, or if they didn't bring in any just go off last years notices.
While you are doing this you can also set it up so that you become an e-shareholder and most things are sent to you by email, saving trees and you could save all the emails in a folder and come tax time its all there in one convenient place.
Realist
13th-December-2006, 05:57 PM
Most of the share registries (computershare and link market services) have internet sites that you can go to and put in your srn, hin etc and they can tell you what dividends were paid last year and the franked amounts paid. Not too time consuming, I do this at work if peope bring in one dividend statement and there should be 2, or if they didn't bring in any just go off last years notices.
While you are doing this you can also set it up so that you become an e-shareholder and most things are sent to you by email, saving trees and you could save all the emails in a folder and come tax time its all there in one convenient place.
Thanks that is what I wanted?
Do you have to join Computershare though? :confused:
deftfear
13th-December-2006, 06:03 PM
There is part of the site that you have to join up for, but you can get the dividends without signing up. I suggest bookmarking the site and every time you want to get the dividend for another company, close the page and open up a new internet explorer, I find that the quickest way to check a few companies all at once.
Knobby22
13th-December-2006, 06:56 PM
Realist
First get your trades for the year (listed on Comsec) then
look up dividends on the research section.
Just multiply out your number of shares at each time.
Do it in a spreadsheet and it will be there for you to update next year.
Mofra
26th-December-2006, 12:36 PM
Realist,
As an aside if you haven't kept all your cheque receipts, Compushare also offers a soft copy for download of the receipts showing the amounts & franking credits.
Had to download two for my 05 tax return that somehow went missing during a move.
Cheers
123enen
26th-December-2006, 07:16 PM
Haha, yes but I am talking about all the dividends I got last year, I just can not be buggered working out all the amounts franking percentages.
I guess there is no easy way. :(
What do you mean franking percentages??
You do not need to calculate the percentages.
Each dividend statement will have:
The franked amount received in $
The unfranked amount received in $
The franking credit amount received in $
The tax withheld, if any, amount received in $
Add each type up and there you have it. No percentage calculations required
Ko Ko
26th-December-2006, 10:38 PM
I just hold a folder with all the information and papers I get from shares. I stard a new folder each financial year, not calender year and when it comes to tax time I have a look at all my sell contracts and locate the buy contracts and also submit all the dividend payment notices i get to my accountant. It is okay but I am not holding too many stocks compared to most to be getting headaches.
Julia
26th-December-2006, 10:45 PM
What do you mean franking percentages??
You do not need to calculate the percentages.
Each dividend statement will have:
The franked amount received in $
The unfranked amount received in $
The franking credit amount received in $
The tax withheld, if any, amount received in $
Add each type up and there you have it. No percentage calculations required
Exactly.
Even with a large portfolio, this exercise would take less than half an hour.
I don't suppose you're suggesting you haven't kept the dividend statements, Realist?
Julia
niknah
26th-December-2006, 11:26 PM
Do you have to join Computershare though? :confused:
If you haven't registered you really should, when I first registered all I needed was my HIN number and asx company code. Say if someone got hold of your number through some share holder letter you threw away, they could get access to your account, change banking details, etc.
The only places you probably need to register is linkmarketservces + computershare. I only have one stock that's not processed by these guys.
deftfear
27th-December-2006, 08:43 AM
To change things like bank details you do need to register with computershare...not too sure about link, with computershare they send you a pin number in the mail with allows you to get access to more information.
Computershare only allows you to look at dividends, shareholding at a certain date without getting the pin number.
mark_au
14th-February-2007, 04:59 PM
Hi There
there is an excellent piece of australian software called topshare
see topshare.com.au
Worth every cent when it comes to tax time,
you basically enter all your trades, and it will generate numerous reports
including all your capital gains/losses for painless tax returns.
I tried to struggle with a spreadsheet for a while, but it gets way compicated way fast
regards
Mark W
Garpal Gumnut
15th-February-2007, 09:20 PM
Realist seems to have been absent from this post since 13th Dec. Is he lying low from the ATO. Is he suffering shame because of his request for someone else to put in his tax return for him. Even Julia got testy with him. Does he have such vast holdings that logging on again may in fact skew the market. quoi?
