How to: Get Tax Ready

The Tax Overview page is the best place to start when you want to get your Navexa portfolio ready for tax time. It shows your tax position for the selected financial year, points out what still needs attention, and gives you direct access to the reports you'll use for Australian tax reporting.

To open the Tax Overview page:

Make sure you select the correct financial year before checking anything else. All figures, warnings, and reports on the Tax Overview page are based on that selected period.

Being tax ready means your selected financial year has enough complete and accurate data for Navexa to generate more reliable tax reports.

If your portfolio is not tax ready yet, the Tax Overview page will show a warning banner and highlight the areas that still need attention. You can still open reports before everything is fixed, but unresolved items can lead to incomplete or less accurate tax results.

An important part of the Tax Overview page is the Tax Readiness checklist.

This checklist shows which parts of your tax data are complete and which parts still need work. It may include items such as:

If a line shows a warning or a Fix button, that means Navexa has identified something that needs to be reviewed before your tax reporting is more complete.

The Tax Readiness checklist does not just show you what is incomplete. It also helps you go directly to the area that needs attention.

When you click Fix beside an item in the checklist, Navexa opens the relevant screen so you can review and complete that issue.

If Dividends shows items to resolve, clicking Fix opens the dividend review screen.

This screen lets you work through unconfirmed dividends without needing to leave the tax readiness workflow.

From here, you can:

Once a dividend is confirmed, it is treated as resolved and removed from the tax readiness review screen.

If you need to view it again later, you can open the holding and go to its Income tab.

Use this screen to check dividend amounts, dates, and details before confirming them, especially if you want to make sure your income reporting is complete for the selected financial year.

If Holdings shows items to resolve, clicking Fix takes you to the holdings issue list.

For example, you may see issues such as a negative holding balance at end of period. This means Navexa has found a holding that does not reconcile correctly for that financial year and needs to be reviewed.

If Trust Income (AMIT) shows items to resolve, clicking Fix takes you to the holding that still needs AMIT data.

Navexa then opens that holding’s Income page, where you can enter the required AMIT statement information for the relevant financial year.

This is especially useful for ETFs and managed fund holdings that need AMIT data before your tax reporting is complete.

If you are unsure where to begin, start with the Tax Readiness checklist on the Tax Overview page and work through each Fix item one by one.

This is the fastest way to move from incomplete tax data to more complete and accurate reporting.

The Tax Overview page also gives you a quick summary of your tax position for the selected financial year.

The Net Capital Gains section shows your current overall capital gain or loss for the year. It also breaks that down into:

This section helps you understand your realised capital gains position before opening the full Capital Gains Tax report.

The Total Income section shows the income Navexa has recorded for that financial year. This can include:

This section gives you a quick check before you open the full Taxable Income report.

The Tax Overview page also shows your current:

These settings affect how your tax reporting is calculated and displayed. Review them before relying on your final reports. See Capital Gains Tax Settings for more information.

Once you have reviewed the Tax Overview page and fixed the outstanding items, you can open the report you need. Opening these reports from this page will automatically open them in the same tax year selected. These Tax Reports are also available from the let hand side menu.

Use ATO MyTax if you want a report designed to help with filling out your myTax return.

Use Capital Gains Tax if you want a detailed breakdown of your capital gains tax obligations for the selected financial year.

Use Taxable Income if you want to review income from dividends, distributions, and staking rewards for the selected financial year.

The Tax Overview page also gives you access to planning reports that can help you understand your position beyond your lodged tax return.

Use Portfolio Valuation to see the current market value and cost base of your holdings. Useful for determining a value at a certain date like 30 June.

Use Unrealised Gains to estimate the capital gains impact if you sold your current holdings today.

Use Historical Cost to review opening and closing balances for the selected period.

If you are not sure where to begin, use this simple approach on the Tax Overview page:

For most customers, the Tax Readiness checklist is the fastest way to see what still needs to be done before using Navexa’s tax reports.

Before relying on any figures from the Tax Overview page or the reports linked from it, make sure your portfolio data is up to date.

Pay particular attention to:

The more complete your data is, the more useful your tax reports will be.

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