Lock, Unlock And Re-Lock Financial Years For Tax Reporting In Navexa

Locking a financial year for tax reporting saves that year’s tax report calculations in Navexa so prior-year figures can be reviewed and managed more clearly.

Locking a financial year in Navexa relates to tax reporting only.

It does not:

It only saves the tax report calculations for a financial year based on the data recorded in Navexa at the time.

Locking a financial year records the tax report calculations for that year in Navexa.

This can help you keep a stable record of a financial year after you have reviewed the portfolio data, checked the relevant reports, and are comfortable with the figures shown in Navexa.

Locking a year does not mean Navexa has checked your full personal tax position. Your lodged tax return and tax records remain the source of truth.

You may choose to lock a financial year after reviewing the year’s tax information in Navexa.

Before locking, check that:

You can use the Finalise FY checklist on Tax Overview to find items that may need attention before locking.

Financial year locking is managed from the Tax Overview page.

To review and lock prior financial years:

Depending on the year’s status, Navexa may show actions such as Lock, Unlock, or Re-lock.

When you select Lock in the Previous financial years section, Navexa may lock the selected financial year and any earlier financial years that are not already locked.

For example, if FY20/21 to FY24/25 are all unlocked and you select Lock for FY24/25, Navexa may show that it will lock five years.

Review the years shown in the lock modal before confirming. This helps you understand whether you are locking one year or a chain of earlier years.

When you select Lock, Navexa may ask how you want to lock the selected year or years.

The two lock types are Lock with carry-forward losses and Lock as historical record.

Navexa may pre-select one of these options depending on the year and context. Review the selected option before locking.

Lock with carry-forward losses saves the year’s tax report calculations and allows Navexa to carry remaining capital losses into later financial years.

Use this option when you want Navexa to include the year in the capital loss carry-forward chain.

For example, if a locked year records a capital loss that is not fully applied in that year, Navexa can carry the remaining balance into the next financial year’s tax report.

Lock as historical record captures each year’s filed numbers only.

No carry-forward losses are generated or applied from that lock.

This option may be useful when you want to record earlier years as historical filed years, without Navexa calculating capital loss movement through those years.

Before choosing this option, check that it matches how you want earlier years reflected in Navexa.

The lock modal may show the Capital Gains Tax sale-allocation method for each financial year being locked.

For example, the modal may show FIFO beside each year.

Select Change if you need to review or update the method before locking. The selected method can affect the tax report calculations saved for that year.

Before selecting Lock, check:

The selected lock type and method can affect how later tax reports use earlier-year information.

An unlocked financial year is still open for tax reporting in Navexa.

This means the year’s tax figures may continue to change if portfolio data changes.

An unlocked year can change when you:

Unlocked years are useful while you are still reviewing and correcting records.

A locked financial year has saved tax report calculations in Navexa.

This gives you a fixed reference point for that year based on the data recorded at the time it was locked.

A locked year can help later years calculate from a clearer historical base, especially where earlier years affect later reports.

Earlier years can affect later years through:

Locking does not stop you from finding issues later. If underlying data changes after a year is locked, Navexa may show that the year needs review.

Unlocking a financial year reopens that year for tax reporting in Navexa.

You may need to unlock a year if you need to change records that affect the saved tax calculations.

For example, you may unlock a year to:

After making changes, review the reports again before re-locking.

Re-locking saves the updated tax report calculations after changes have been made.

Use Re-lock when a previously locked year has changed and you want Navexa to refresh the saved record for that financial year.

For example:

Re-locking helps keep the saved year aligned with the data currently recorded in your portfolio.

If your portfolio contains several financial years of history, review older years first.

Older years can affect later years, so working forward helps each year calculate from a more complete base.

A useful workflow is:

This is especially useful for new Navexa users who have imported historical data.

A locked financial year may need review if data changes after the lock was created.

This can happen if you add, edit, delete, or confirm records that affect that year’s tax calculations.

For example, a locked year may need review after changes to:

When this happens, review the affected year before relying on later reports.

Locking a financial year in Navexa does not lodge your tax return.

It only saves the year’s tax report calculations inside Navexa. You or your registered tax agent still need to review and lodge your tax return outside Navexa.

Locking a financial year for tax reporting does not stop portfolio updates.

You can still add trades, receive broker syncs, import data, and update income records. If those changes affect a locked financial year, Navexa may show that the year needs review.

Locking one financial year may also lock earlier unlocked years because later years can depend on earlier tax history.

For example, if FY20/21 to FY24/25 are all unlocked and you lock FY24/25, Navexa may lock the full earlier-year chain so FY24/25 has a stable historical base.

Choose the lock option that matches how you want Navexa to treat the year.

Choose Lock with carry-forward losses if you want Navexa to calculate and carry available capital losses into later financial years.

Choose Lock as historical record if you want Navexa to capture the year as a historical filed record without generating or applying carry-forward losses from that lock.

Use your lodged tax records or accountant-confirmed records as the source of truth.

You may be able to change records that affect a locked year, but the year may need to be unlocked or reviewed afterwards.

If the change affects the saved tax calculations, Navexa may show that the year needs review or needs to be re-locked.

A year may still show as unlocked if it has not been saved as a locked financial year in Navexa.

This can be separate from other setup steps, such as confirming earlier years as lodged. Confirming earlier years may record historical setup for a selected year, but it does not always mean every prior year has been individually locked.

Starting with older years helps later years use more complete historical information.

This matters because earlier trades, cost bases, AMIT records, Capital Gains Tax settings, and capital loss balances can affect later financial years.

Navexa provides portfolio tracking and tax reporting tools based on the data recorded in your account. Navexa reports are designed to help you review and organise your investment tax information, but your lodged tax return and tax records remain the source of truth.

Review your records and speak with a registered tax agent if you need advice about your circumstances.

Remember, this is general information, not personal financial advice.