This guide explains why Betashares Direct distributions, reinvestment prices and fractional units can differ from Navexa, and what to check when reconciling a holding.
Why Figures Can Differ
Betashares Direct uses a custodial investment model, so investments are held through a custodian rather than directly against your own CHESS Holder Identification Number (HIN).
Betashares Direct also supports fractional investing. This means an account can hold part of an ETF unit or share, rather than only whole units.
A Dividend Reinvestment Plan (DRP) reinvests an income payment into additional units. When you hold an ETF directly, the ETF provider normally sets the DRP price and allocates units under its own DRP rules.
Betashares Direct can reinvest income through its own platform process instead. Its reinvestment price and fractional quantity may therefore differ from the ETF provider’s published DRP price and allocation.
The distribution amount may be the same, while the reinvestment price differs.
The number of reinvested units may differ because Betashares Direct can allocate fractional units.
The resulting cost base can differ if the price or quantity is different.
What Navexa Records
Navexa records dividends and distributions from the holding history in your portfolio and the income data available for that security.
For an ETF held through Betashares Direct, Navexa may initially use the ETF’s published distribution and DRP information rather than the account-specific reinvestment recorded by Betashares Direct.
How Navexa Adds Dividends And Distributions explains how Navexa uses your recorded holding history and available income data.
This can result in differences in the reinvestment price, reinvested quantity, fractional units, amount shown as reinvested, cost base, or the way the distribution and reinvestment appear as separate records.
Compare The Records
Compare the account-specific details in Betashares Direct with the income record in Navexa before editing or recreating anything.
In Betashares Direct
Check the distribution or dividend amount, payment date and ex-entitlement date.
Check whether the income was reinvested.
Check the units received, including any fractional quantity, and the reinvestment price.
In Navexa
Open Portfolio and select the relevant holding.
Open the holding’s Income tab.
Check the paid date, ex-dividend date, gross and net amount, and whether Dividend Reinvested is enabled.
Check the reinvested units and share price used for the reinvestment.
Pay particular attention to the reinvestment price and fractional quantity. These are the most common reasons a Betashares Direct record differs from an issuer-operated DRP.
Avoid Duplicate Records
An ETF income record in Navexa can represent the underlying published distribution, while Betashares Direct shows a separate account-specific reinvestment.
Do not add a second dividend or distribution until you have checked whether Navexa has already recorded the underlying income event.
Check whether one record represents the ETF distribution.
Check whether another record represents the Betashares Direct reinvestment.
Check whether you manually added income or a reinvestment that Navexa already recorded.
Tax Components Are Separate
The way a distribution is reinvested is separate from the final tax components for that distribution.
Betashares Direct provides a consolidated Annual Tax Statement and can provide detailed tax components for individual ETFs. Use the account-specific information from Betashares Direct when reconciling the actual distribution amount, fractional units and reinvestment price.
How to Enter Betashares Direct Annual Tax Statement Components in Navexa explains how to enter Betashares Direct annual tax components for each ETF.
When To Contact Support
If several Betashares Direct distributions or reinvestments do not match, contact Navexa Support with one clear example before changing every record individually.
Include the affected holding, distribution amount, payment date, reinvested quantity and reinvestment price.
Attach a screenshot or Betashares Direct export showing the transaction, where available.
Remember, this is general information, not personal financial advice.