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 dividend income in a given financial year. 

 

You’ll find your Taxable Income 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. 

 

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:

 

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  • 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. 

 

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

 

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

 

Please note: This report is not tax advice and we suggest verifying with an accountant before filing your taxable income return.