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 Capital Gains Tax Report automatically calculates the amount you’ll need to pay in taxes on your portfolio’s capital gains in a given financial year. 

 

You’ll find your Capital Gains Tax Report on the ‘Reports’ page, which you can access from the navigation bar. 

 

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How To Run The Taxable Income Report

 

Select the financial year at the top left. 

 

The date range selection in this one is preset to cover financial years. 

 

Before running the report, check that your tax settings are correct. 

 

Click the ‘Tax Settings’ button at the top right and you can choose from individual, SMSF or company tax reporting.  

 

You can also select your sale allocation method. 

 

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Once you’ve got your settings sorted and run the report for the financial year you want to see, you’ll see the following fields:


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Under ‘Non Discountable Capital Gains’ you have:

 

  • Short Term Gains
  • Capital losses available to offset

 

Under ‘Discountable Capital Gains’ you have:

 

  • Long Term gains
  • Capital losses available to offset

 

Then you have your CGT Concession Amount and, finally, your total Capital Gain for the portfolio (for the financial year and tax settings you’ve selected). 

 

Navexa doesn’t provide tax advice but so long as you’re account information is accurate and up to date, this should be all you need to file your return.

 

At the top right of the report, you’ll find buttons for exporting the report as both an XLS and PDF file.