Creating a Taxable Income Report

Of all the reporting tools in your Navexa account, the taxation reports are among the most powerful.

Provided you’ve uploaded your portfolio information correctly and everything is up to date, the Taxable Income Report automatically calculates the amount you’ll need to pay in taxes on your portfolio’s income in a given financial year. 

You’ll find your Taxable Income Report in the ‘Tax Reports’ menu in the left navigation bar. 

How To Run The Taxable Income Report

Select the financial year at the top left. 

This will run the report across your portfolio for that time period. 

You’ll see three fields under ‘Australian Tax return for individuals’:

Unfranked Amount, Franked Amount, Franking Credits.

In the ‘Supplementary’ section, you’ll see six other fields:

  • Share of net income from trusts, less capital gains, foreign income and franked distributions
  • Franked distributions from trusts
  • Share of franking credits from franked dividends

And in the ‘Income from foreign sources and assets section’:

  • Assessable foreign source income
  • Other net foreign source income
  • Foreign income tax offset

Below the return fields you’ll see a holding by holding breakdown of your taxable income. 

This shows you subtotals for payments from each holding, and grand totals for each column at the bottom. 

Learn how to share the result with your accountant.

Please note: At this time, Navexa only supports tax calculation and reporting for Australian customers. This report is not tax advice. We suggest verifying with an accountant before filing your tax return.

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