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Tax Time in Australia. What You Need to Know.

It’s tax time in Australia. Here’s what you need to know about receiving records of your transaction history for reporting purposes.

Financial Year 2020 (FY20) has come to an end and through a partnership with Sharesight, we’ve made it straightforward for you to incorporate your Stake trading activity into tax calculations.

With Sharesight, you can:

  • Automatically track daily price & currency fluctuations, and handle corporate actions such as share splits or mergers.
  • Track your investment performance, including the impact of:
    •  Dividends
    • Foreign exchange rates
    • Brokerage fees (if we charged any!)
  • Run powerful tax reports built for Australian investors, including:
    • Capital Gains Tax
    • Taxable income
    • Unrealised capital gains

Who said tax time had to be taxing?

Here’s how it’ll work.

On July 22, all Stake customers will receive an email with two CSV files documenting their transaction history on Stake.

  • ‘Stake_Trades_FY20_Only.csv’ will reflect all your transactions in FY20 only
  • ‘Stake_Trades_All.csv’ will reflect all your transactions on Stake ever

Simply download the CSV file that’s relevant to you (see below) and then follow these quick steps.

  • Sign up for a FREE Sharesight account (if you haven’t already)
  • Click ‘Import from a Broker’ and then select the Stake tile
  • Upload the relevant CSV file with Sharesight’s file import wizard

Which CSV file is relevant to me?

Customers who joined Stake during FY20, use ‘Stake_Trades_FY20_Only.csv’, as all your transaction history occurred in this financial year.

Customers who joined Stake before FY20 and did use Sharesight to process their Stake transaction history last year (FY19), ‘Stake_Trades_FY20_Only.csv’ is also the file for you. Transactions from this financial year will automatically be integrated to your transaction history from previous financial years on Sharesight.

Customers who joined Stake before FY20 but did not use Sharesight to process their Stake transaction history last year (FY19), ‘Stake_Trades_All.csv’ is the one for you. This will allow Sharesight to incorporate any tax-relevant actions for FY20 that were initiated in FY19. Like if you bought a share last financial year but sold it this financial year.

It really is that simple.

If you have any questions, reach out, we’ll be happy to help. Otherwise, happy taxing.

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