Everything you need for tax time: A guide to Sharesight's Tax Pack

As an Australian investor, you’re likely familiar with the stresses of tax time. Each financial year brings a mix of paper and digital statements from brokers, share registries and dividend issuers, and every one of them has to be collected and reconciled before you can start. The Sharesight Tax Pack is built to give you everything you need to complete your investment tax, with none of the stress. Keep reading to learn more about what’s included in the Tax Pack and how it fits alongside Sharesight’s other plans.

Every report you need for $59 a year

The Tax Pack is an annual subscription priced at $59. It covers one portfolio with unlimited shares, ETFs and dividends, including the closed positions you need for capital gains calculations. You can also track cash accounts, so you have all the figures you need to calculate your investment tax.

Three reports come included, each calculated to ATO rules:

• A taxable income report brings dividends, distributions, interest and franking credits into a single view. Local and foreign income are split out, with field references to the relevant sections of the Australian Income Tax Return for Individuals — ready to enter on your return.
• An Australian capital gains tax report calculates realised gains and losses, applies the CGT discount where it should, separates short-term and long-term gains automatically, and lets you choose between FIFO, LIFO and other sale allocation methods.
• An all trades report gives you your complete trading history — every buy, sell and adjustment — with brokerage and other fees rolled into the cost base. Filter by date, market or holding when you need to answer an ATO query.

Sharesight’s capital gains tax report functions as a CGT calculator, determining capital gains made on sold shares are per ATO rules.

Every report exports to PDF or Excel, and you can share secure portfolio access with your accountant from inside Sharesight so they're working from the same numbers you are. If you file yourself, the figures line up with the fields you'll meet in the ATO’s myTax portal.

A simple way to get your trades in

The Tax Pack works across your whole portfolio, even if you trade through more than one broker. Sharesight gives you several ways to import your trading history: a direct connection with supported brokers, automatic trade confirmation forwarding from your inbox, an AI importer that reads PDFs, images and other documents, or a CSV upload. Whichever option you choose, the Tasks tab flags anything that looks incomplete so nothing slips past you on its way into your tax figures.

Built around the figures that matter at tax time

The Tax Pack home screen shows your holdings and their value in a layout focused on tax time, highlighting the figures that matter when filing your return. From a dedicated Tax tab, you can run any of the three reports on demand, so going from raw data to a filed return is a matter of clicks rather than days.

There is also a Tasks tab to help keep your records on track. It surfaces missing trades, unconfirmed dividends and tax-time to-dos automatically, so you can review them before running your reports. That means the cost base behind your CGT figures reflects your full trading history.

The Tasks tab gives you one place to review all your dividends and distributions, with the ability to search for specific investments or filter by share registry.

Who the Tax Pack is for

The Tax Pack is for Australian investors who file their own return or work with an accountant, and who want their tax figures ready without paying for features they won't use. It's particularly useful if your investments span more than one broker or platform, or if you've held shares long enough to need a proper cost base for capital gains. While registry-issued tax packs only cover one share registry, the Sharesight Tax Pack pulls every share, ETF and dividend in your portfolio together, regardless of where the shares are registered or which broker you used to buy them.

For investors holding international investments, the foreign income section of the taxable income report is especially useful, as it separates foreign tax credits and gross foreign income from your local dividend income, ready to enter on your return.

An excerpt from the foreign income section of the taxable income report in an Australian investor’s portfolio.

Find the right Sharesight plan for tax time and beyond

The Tax Pack is built for one thing: getting your tax figures ready each year. Used on its own, it works as a pared-back Sharesight subscription focused on tax — three reports, one portfolio, unlimited shares, ETFs and dividends, and an overview of what matters at tax time.

For performance tracking alongside your tax features, you can pair the Tax Pack with a Basic plan on an annual subscription. That adds reporting features including performance, diversity and exposure, plus benchmarking across one portfolio with up to 30 holdings. For investors looking to track performance and tax in greater depth, Sharesight's Standard plan covers the full feature set across four portfolios with unlimited holdings. That includes all the Tax Pack reports, plus an unrealised CGT report for modelling tax loss selling opportunities. Premium extends that to 10 portfolios with additional reporting.

For now, if all you need is tax time covered, the Tax Pack is the simplest way to do it.

Get the Tax Pack for $59 a year

Disclaimer: This article is for informational purposes only and does not constitute a specific product recommendation, or taxation or financial advice and should not be relied upon as such. While we use reasonable endeavours to keep the information up-to-date, we make no representation that any information is accurate or up-to-date. If you choose to make use of the content in this article, you do so at your own risk. To the extent permitted by law, we do not assume any responsibility or liability arising from or connected with your use or reliance on the content on our site. Please check with your adviser or accountant to obtain the correct advice for your situation.

FURTHER READING

• Capital gains tax made simple: CGT guide for Australian investors
• Taxable income report for Australian investors
• Export your trading history with Sharesight's all trades report