Use this guide to get your Navexa portfolio ready for Australian tax reporting by checking the data that drives your tax reports.
What Tax Ready Means
Being tax ready in Navexa means your portfolio data is complete enough for Navexa to generate more useful tax reports for the selected financial year.
Tax ready does not mean your tax return is final. It also does not mean Navexa has checked your full personal tax position.
Navexa helps you organise your investment data, calculate reports from that data, and export figures for review. You or your accountant still need to confirm how those figures apply to your situation.
What Navexa Can Help With
Navexa can help you prepare the investment side of your tax records.
Depending on your portfolio data, Navexa can help you:
track buys, sells and cost bases
review realised capital gains and losses
review dividends, distributions and other investment income
enter ETF, managed fund or trust tax statement components
review foreign income and withholding amounts
check Capital Gains Tax (CGT) settings
generate ATO-aligned tax reports
export reports as PDF or Excel
share reports with your accountant
Navexa does not lodge your tax return, choose a tax strategy for you, or provide personal tax advice.
Before You Start
Before using Navexa’s tax reports, check that you are working with the right portfolio and financial year.
For Australian tax reporting, make sure:
you have selected the correct portfolio
the portfolio is set up in AUD
you have selected the correct financial year
your trades have been imported or entered correctly
your income records are complete
your tax settings match how you want Navexa to calculate reports
Australian tax reports in Navexa are based on the Australian financial year, from 1 July to 30 June.
Some tax features depend on your plan. Basic plans include tax optimisation features for core reporting, while higher plans may include advanced tax optimisation tools such as manual parcel selection and unrealised CGT scenario analysis. For more detail, see What is the difference between Tax Optimisation and Advanced Tax Optimisation?
Start With Tax Overview
Start with Navexa’s Tax Overview page when you want to check whether your portfolio is ready for tax reporting.
To open it:
Select the portfolio you want to review.
Open Tax Reporting from the left-hand menu.
Select Overview.
Select the financial year you want to review.
The Tax Overview page shows your tax readiness, summary figures, tax settings and links to the main tax reports.
Check Tax Readiness
The Tax Readiness checklist shows which parts of your portfolio data may still need attention.
The checklist may show items such as:
Holdings
Trades
Dividends
Staking Rewards
Trust Income (AMIT)
If the checklist shows a warning or Fix button, review that item before relying on your tax reports.
You can still open reports before every issue is fixed, but unresolved items may make your reports incomplete or less accurate.
Check Your Portfolio Data
Check Trades And Holdings
Trades and holdings affect your cost base, realised gains, capital losses and portfolio balances.
Before running tax reports, check that:
buy trades have been recorded correctly
sell trades have been recorded correctly
dates, quantities, prices and brokerage look right
your holdings reconcile correctly
there are no unexpected negative holding balances
transfers, mergers or manual adjustments have been reviewed where relevant
If trade data is missing or incorrect, your Capital Gains Tax report may also be incorrect.
Check Dividends And Distributions
Dividends and distributions affect your income reporting.
Before relying on income reports, check that:
dividends have been confirmed where required
distribution amounts match your records
Dividend Reinvestment Plan (DRP) entries have been reviewed
franking credits have been recorded correctly where relevant
income dates and payment details look right
DRP means Dividend Reinvestment Plan. This is when a dividend is automatically reinvested into more units or shares instead of being paid as cash.
Check ETF And Trust Income
ETFs, managed funds and trusts may need extra tax statement information before your income report is complete.
Some providers issue annual tax statements after the end of the financial year. These may include AMIT or AMMA components that are not always available from the cash payment alone.
AMIT means Attribution Managed Investment Trust.
AMMA means Attribution Managed Investment Trust Member Annual statement.
If you hold ETFs, managed funds or trust-style investments, check whether you need to enter final annual statement data in Navexa.
This can affect taxable income, trust income, capital gains components, foreign income, offsets and cost-base adjustments.
Check Foreign Income
Foreign income and withholding amounts can affect your taxable income reporting.
Before relying on your reports, check whether your portfolio includes:
foreign income
foreign tax offsets
foreign withholding tax
resident withholding tax
TFN withholding amounts
Make sure these amounts are recorded correctly where they apply to your investments.
Review Tax Settings
Tax settings affect how Navexa calculates capital gains.
Before running or exporting reports, review your:
sale allocation method
CGT strategy
portfolio base currency
holding-specific tax settings, if used
manually selected trade parcels, if used
These settings can affect which parcels Navexa uses when calculating realised capital gains and losses.
Choose The Right Report
Use the report that matches what you are trying to review.
If You Want To | Use This Report |
Review realised capital gains and losses | Capital Gains Tax |
Review dividends, distributions and taxable income | Taxable Income |
Review ATO myTax investment fields | ATO MyTax |
Estimate possible CGT before selling current holdings | Unrealized Gains |
Review market value and cost base at a point in time | Portfolio Valuation |
Review opening and closing balances for a selected period | Historical Cost |
Reports opened from Tax Reporting use the financial year selected in that report or page.
Export Or Share Reports
Once your data has been reviewed, you can export your reports or share them with your accountant.
You can use Navexa to:
export tax reports as PDF or Excel
save reports for your own records
send exported reports to your accountant
give your accountant read-only access to your portfolio
Before Relying On Reports
Before relying on Navexa’s tax reports, check your portfolio data against your own records.
Pay particular attention to:
broker statements
trade confirmations
dividend statements
ETF or managed fund annual tax statements
AMIT or AMMA statements
accountant guidance
any records you keep outside Navexa
Navexa generates tax reporting figures from the data recorded in your portfolio. The more complete your data is, the more useful your reports will be.
Useful Next Steps
How to Use Navexa’s Tax Overview Page
Creating A Capital Gains Tax Report
Creating a Taxable Income Report
The ATO myTax report
Capital Gains Tax Settings
Share Australian Tax Reports With Your Accountant
Does Navexa replace my accountant or tax adviser?
Remember, this is general information, not personal financial advice.