Tax reporting in Navexa is only available for portfolios with AUD (Australian Dollar) as the base currency. This is because the Australian Taxation Office (ATO) requires all reporting in AUD.
If your portfolio is set to USD as the base currency, you will see the message:
Tax reporting is not available for Portfolios with USD as the base currency.
Why AUD Is Required
Navexa links a portfolio’s base currency to the tax residency you select:
If your tax residency is Australia, your portfolio’s base currency must be AUD.
This ensures that all performance and tax calculations comply with ATO requirements.
Base Currency Rules
You cannot change the base currency of a portfolio once it is created in Navexa.
The base currency is permanently linked to the portfolio and cannot be edited after setup.
If you need a portfolio with a different base currency, you must create a new portfolio and select the desired currency during creation.
Renaming a portfolio only changes its label; it does not affect the base currency or any other settings.
What If You Trade in USD?
Even if most of your trading is in USD (for example, with Interactive Brokers):
Navexa records trades in USD if that’s how the broker provides them.
Navexa automatically converts values to AUD using daily average exchange rates.
You can still view your portfolio in USD by toggling between AUD and Local $ at the top of your portfolio page.
Trust Income and Tax Reporting
For ETFs (Exchange Traded Funds), managed funds, or LICs (Listed Investment Companies) structured as trusts:
You must enter the annual tax statement breakdown (AMMA statement) via the ETF Statement Components tool.
This ensures fields like trust income, foreign income, and tax offsets are included correctly in your taxable income report.
Capital Gains in AUD
Your cost base for tax purposes is always calculated in AUD:
Even if your average buy price is displayed in USD for reference.
The ATO capital gains report will always use the AUD cost base.
In summary: To generate an ATO myTax Report in Navexa, you must set your portfolio base currency to AUD. You can still view holdings in their local currency, but all reporting for the ATO is converted to and based on AUD.