Use the Taxable Income report to review your estimated investment income for a selected financial year and map it to Australian Taxation Office (ATO) myTax labels.
Important Notice
The figures in this report are generated from the data recorded in Navexa.
These figures are estimates for review and advisory purposes only. You should check the report against your own records, broker data, dividend statements, ETF tax statements and accountant’s guidance before lodging a tax return.
What The Report Does
The Taxable Income report breaks down your investment income for a selected Australian financial year.
It helps you review income from:
Dividends from shares
Trust, ETF and managed fund distributions
Franking credits
Foreign income
Foreign tax offsets
Cash interest
Crypto income
The report maps these amounts to relevant ATO tax return labels, including labels used in myTax.
This report is focused on taxable income from dividends, distributions, interest and other income entries. It is not the same as the Capital Gains Tax report.
Capital gains distributed by ETFs, managed funds or trusts may appear in the
Taxable Income report as trust distribution components. Capital gains or losses from selling your own holdings are reviewed in the Capital Gains Tax report.
Who Can Use It
The Taxable Income report is designed for Australian tax reporting.
ATO tax reports in Navexa require an AUD-base portfolio. If a portfolio uses USD, EUR, GBP or another non-AUD base currency, Australian tax reports will not be available for that portfolio.
This does not stop you from tracking foreign holdings. It means the selected portfolio must use AUD as its base currency for ATO reporting.
Before You Review It
Before relying on the Taxable Income report, make sure your portfolio data is complete.
Check that:
Your trades have been imported or entered correctly.
Your dividends and distributions have been recorded.
Dividend Reinvestment Plan (DRP) entries have been checked where relevant.
ETF, managed fund and trust income has been reviewed.
AMIT or AMMA statement data has been entered where required.
Foreign income and withholding tax amounts have been checked.
You have selected the correct financial year.
AMIT stands for Attribution Managed Investment Trust. AMMA stands for Attribution Managed Investment Trust Member Annual statement.
ETF and managed fund providers often issue AMMA statements after the end of the financial year. These statements can include final tax components that are not available from the cash distribution alone.
Run The Report
To open the Taxable Income report:
Choose your Portfolio you want the report for.
Open Tax Reporting in the left-hand menu.
Select Taxable Income.
Choose the financial year from the drop-down menu at the top of the report.
Wait a moment while Navexa calculates the report for that financial year.
The report updates based on the selected financial year.
Prepare ETF And Trust Income
Before reviewing the final totals, check the Trust Income section for ETF, managed fund or trust-style holdings.
These holdings may need final AMIT or AMMA statement data before the report is complete.
If a holding needs attention, Navexa may show Enter AMIT Statement or Update AMIT Statement beside that holding.
Select Enter AMIT Statement to:
Enter statement values manually.
Import the AMIT or AMMA statement from PDF.
Mark the holding as not requiring AMIT data.
Select Update AMIT Statement to review or change statement data that has already been saved.
You can also enter or update AMIT statement data from the holding itself by opening the holding’s Income section.
For the full AMIT workflow, see Using the ETF Distributions Pro-Rata Tax Form.
Understand AMIT Statuses
Navexa shows AMIT statuses in the Trust Income section to help you see which holdings still need attention.
AMIT Required
AMIT Required means the holding may need AMIT or AMMA statement data for the selected financial year.
Use this status as a prompt to check the holding’s final annual tax statement.
AMIT Complete
AMIT Complete means AMIT statement data has been entered and saved for that holding and financial year.
You can still select Update AMIT Statement if you need to review or change the saved values.
AMIT Not Required
AMIT Not Required means the holding has been marked as not needing AMIT data for that financial year.
This status does not permanently block the holding. You can still select Enter AMIT Statement later if you receive a statement or realise AMIT data is required.
Read The Summary
The top section of the report shows a taxable income summary.
The summary groups your income into the same broad areas used in the Australian tax return, including:
Australian Tax Return for Individuals
Australian Tax Return for Individuals Supplementary Section
Income from partnerships and trusts
Income from foreign sources and assets
Each line shows the ATO label and the amount calculated from the income data recorded in Navexa.
Australian Return Labels
The Australian Tax Return for Individuals section includes income that is not from partnerships or trusts.
It may include:
10L Gross interest: Interest from Australian sources, excluding partnerships and trusts.
10M TFN amounts withheld from gross interest: Tax withheld from interest because a Tax File Number was not supplied.
11S Unfranked Amount: Unfranked dividend amounts from non-trust holdings.
11T Franked Amount: Franked dividend amounts from non-trust holdings.
11U Franking Credits: Franking credits attached to franked dividends.
11V TFN amounts withheld from dividends: Tax withheld from dividends because a Tax File Number was not supplied.
D8 Dividend deductions: Dividend deduction amounts recorded for non-trust income.
TFN means Tax File Number. Franking credits are tax credits attached to franked dividends.
Supplementary Section Labels
The Australian Tax Return for Individuals Supplementary Section includes trust and foreign income fields.
For income from partnerships and trusts, it may include:
13U Share of net income from trusts: Trust income, less certain capital gains, foreign income and franked distribution components.
13C Franked distributions from trusts: Franked distributions from trusts.
13Q Share of franking credit from franked dividends: Franking credits from franked trust distributions.
13R TFN amounts withheld from distributions: Tax withheld from trust distributions because a Tax File Number was not supplied.
For income from foreign sources and assets, it may include:
20E Assessable foreign source income: Foreign income that may need to be reported.
20F Australian franking credits from a New Zealand franking company: Australian franking credits from New Zealand franked income.
20M Other net foreign source income: Other foreign-sourced income.
20O Foreign income tax offset: Foreign tax paid or withheld that may be available as an offset.
Review Income Sections
Below the summary, the report shows the income entries that make up the totals.
Use these sections to check the source of each amount before relying on the summary.
Non-Trust Income
The Non-Trust Income section shows income from company dividends and other non-trust holdings.
This section may include amounts such as:
Total dividend
Net dividend
Franked amount
Unfranked amount
Franking credits
Interest
Foreign amounts, where relevant
Trust Income
The Trust Income section shows income from trusts, ETFs and managed funds.
This is the section to review carefully if you hold ETFs or managed funds. Final AMIT or AMMA statement data can change the taxable components shown in the report.
Foreign Income
The Foreign Income section shows income from overseas investments.
It may include exchange rates, net amounts, foreign tax withheld and gross amounts.
Cash Interest
The Cash Interest section shows interest income from cash holdings where cash interest has been recorded.
Crypto Income
The Crypto Income section shows cryptocurrency income where supported income entries have been recorded.
Edit Income Lines
Click the Ticker name of the holding to go to that holding's page. You can select an individual income line in the report to review or edit it.
Use this when you only need to correct one income entry, such as a single dividend or distribution.
For ETF or managed fund annual statement data, use Enter AMIT Statement or Update AMIT Statement instead. That workflow applies the annual AMIT or AMMA statement values across the relevant distributions for that holding and financial year.
Export The Report
Use Export to download a copy of the Taxable Income report.
Exporting is useful when you want to:
Keep a copy for your own records.
Review the taxable income summary outside Navexa.
Compare report totals against your broker or issuer statements.
Before exporting, check the holding-by-holding sections and AMIT statuses so the report is as complete as possible.
Common Issues
Why Are Figures Different?
The Taxable Income report depends on the income data recorded in Navexa.
Figures can differ from your broker, issuer statement or accountant’s records if:
A dividend or distribution is missing.
A dividend has not been confirmed.
A DRP entry is missing or incorrect.
ETF AMIT or AMMA statement data has not been entered.
Foreign income or withholding tax values differ.
A holding has been classified differently.
The wrong financial year is selected.
Why Is AMIT Required?
AMIT Required appears when a trust-style holding may need AMIT or AMMA statement data for the selected financial year.
Check your ETF or managed fund provider’s final annual tax statement. If the holding needs AMIT data, select Enter AMIT Statement. If it does not need AMIT data for that year, you can mark it as not required.
Why Is Tax Reporting Unavailable?
Tax reporting may be unavailable if the selected portfolio is not an AUD-base portfolio.
ATO reporting in Navexa is designed for Australian tax reporting and requires AUD. Create and use an AUD-base portfolio when you need Australian tax reports.
Can I Lodge From This?
The Taxable Income report is a review tool, not personal tax advice.
Use the report to understand and check your Navexa income data, then verify the figures against your own records and your accountant’s advice before lodging.
Remember, this is general information, not personal financial advice.