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Creating a Taxable Income Report
Creating a Taxable Income Report
Navarre Trousselot avatar
Written by Navarre Trousselot
Updated over 11 months ago

IMPORTANT NOTICE: The figures presented in this report are generated based on the data you supplied during the calculation process. These values are intended to serve as approximations and are for advisory purposes only. While we make every effort to guarantee the correctness of these outcomes, there is always a possibility for mistakes. It is advised that you independently confirm these results. If you are unsure or need further clarity, please consult your tax advisor.

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 by clicking ‘Tax Reporting’ in the top navigation bar. Then selecting 'Taxable Income'.

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.

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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