Confirming earlier years as lodged helps Navexa use your previous tax position as the starting point for the financial year you are preparing.
When This Appears
The Confirm your earlier years as lodged item may appear in the Finalise FY checklist on the Tax Overview page.
To find it:
Open Tax Reporting from the left-hand menu.
Select Overview.
Choose the financial year you want to review.
Look for Confirm your earlier years as lodged in the Finalise FY checklist.
Select Confirm.
Make sure the selected financial year is the year you are preparing. For example, if you are preparing your FY25/26 tax return, select FY25/26 before confirming earlier years.
What It Means
Confirming earlier years as lodged tells Navexa that your earlier tax position can be used as the historical base for the selected financial year.
This can include:
carried-forward capital losses from a previous tax return
the Capital Gains Tax (CGT) method used on earlier sales
previous part-sales that still affect holdings you own
earlier years that need to be treated as already lodged or settled
CGT means Capital Gains Tax. It is the tax treatment applied to gains or losses from selling investments.
Confirming earlier years in Navexa does not lodge your tax return. It records the earlier-year setup Navexa needs so the selected year can calculate from a reliable base.
Carried-Forward Capital Losses
The Carried-forward capital losses field is where you enter the capital loss balance available at the start of the selected financial year.
This figure usually comes from your last lodged tax return. In ATO myTax, it is commonly shown at label V.
For example, if you are preparing FY25/26, enter the carried-forward capital loss balance available from your prior lodged return. Navexa can then carry that balance into FY25/26 and later financial years.
If you do not have any carried-forward capital losses, leave the amount as $0.00.
Capital losses apply forward from the financial year they are available. They do not apply backwards to earlier financial years.
CGT Method Confirmation
The How you calculated CGT on past sales section asks you to confirm the CGT method used on earlier sales that still affect the selected financial year.
Navexa may show this when you still own a holding that was partly sold in an earlier year.
For example, if you sold part of your TLS holding in FY23/24 and still own TLS, that earlier sale may affect the cost base of the remaining units. Navexa needs to know which CGT method was used so the remaining position can be carried forward correctly.
Navexa defaults to FIFO unless you choose another method.
FIFO means first-in, first-out. It assumes the earliest units bought are sold first.
Only change the method if your lodged return or accountant-confirmed records used a different method.
Why Partial Sales Matter
Partial sales matter because they can affect the cost base of the holding you still own.
A full sale closes the position. A partial sale leaves some units behind, so Navexa needs to understand which units were treated as sold and which units remain.
This can affect:
the cost base of the remaining holding
future capital gains or losses
carried-forward calculations
the selected financial year’s CGT report
later financial years
That is why Navexa may ask you to confirm the CGT method for earlier part-sales before finalising a later year.
Confirm As Lodged
Select Confirm as lodged when the carried-forward loss balance and CGT method reflect your lodged or accountant-confirmed records.
After confirming, Navexa records the earlier-year setup for the selected financial year.
You may still need to resolve other checklist items before the year is ready, such as:
missing AMIT statements
unconfirmed dividends
holdings needing attention
incomplete trade history
If something changes later, you may need to review, unlock, or re-lock affected financial years.
Use The Capital Losses Page
You can also add historical capital losses from the Capital Losses page. Click the Capital Losses button on the Tax Overview page.
Use this if you already know the loss you need to record, or if you want to manage capital loss records directly outside the Finalise FY checklist.
When adding a historical capital loss, choose the financial year the loss was made. The loss can then be available to offset capital gains in later financial years.
Do not add the loss to the year you want to use it unless that is the year the loss actually occurred.
Common Issues
Does This Lodge My Tax Return?
No, confirming earlier years as lodged does not lodge your tax return.
It only records the earlier-year tax setup inside Navexa so Navexa can calculate the selected financial year from a reliable starting point.
What If I Have No Losses?
If you have no carried-forward capital losses, leave the carried-forward capital loss amount as $0.00.
You can still confirm the CGT method if Navexa asks about earlier part-sales.
What If I Used Another Method?
If your lodged return used a method other than FIFO, select the method that matches your lodged or accountant-confirmed records.
Keeping the method aligned with your lodged records helps Navexa carry the remaining cost base forward more consistently.
Why Is This Already Recorded?
Navexa may show this item as recorded if the earlier-year setup for the selected financial year has already been confirmed.
This does not necessarily mean every earlier financial year is locked. It means the required historical setup for that checklist item has been recorded.
Remember, this is general information, not personal financial advice.