7 reasons to upgrade your Sharesight account
Sharesight makes it easy to track various investments in one place – everything from shares, ETFs, and managed/mutual funds, to foreign currencies (including cryptocurrencies). And while you can track 10 holdings for free, upgrading your Sharesight account provides time-saving features and unparalleled insights into how your investments are doing.
Upgrade today to unlock these 7 premium Sharesight benefits:
1. More portfolios + unlimited holdings
Sharesight’s Free plan is limited to a single portfolio with 10 holdings. When you step up to an Investor or Expert plan, you unlock additional portfolios and support for unlimited holdings!
Benefits of multiple portfolios
- Track your retirement portfolio (SMSF, RRSP/RRIF, TFSA, KiwiSaver, etc) separately from your other portfolios
- Easily track investments held by family members (and share secure access with them)
- Use a Consolidated View to track your performance across multiple portfolios
- Create an investment watchlist to keep an eye on potential buying opportunities
2. Powerful tax reports
The Unrealised Capital Gains Report allows you to calculate unrealised capital gains in an Australian portfolio to help you model how the resulting taxable income would impact your capital gains if particular shares were sold on the reporting date.
This report allows you to implement strategies such as tax loss selling, and make decisions to sell shares before the end of financial year to realise a capital gain event as part of your broader investment strategy.
For those of you managing portfolios in other regions, upgrading your Sharesight account provides you with the following region-specific tax reports:
- Canada: Canadian Capital Gains Tax Report (Investor and Expert plans)
- New Zealand: FIF Report and Traders Tax Report (Expert plans)
3. Portfolio benchmarking
One of the most popular features in Sharesight is the ability to benchmark your portfolio against any ETF Sharesight tracks. For example, if you want to track the performance of your portfolio against the ASX200 index, selecting an ETF that is modelled on that index will help you determine the relative performance of your portfolio during that time period.
Sharesight not only lets you compare your portfolio’s performance against index-tracking ETFs, but any ETF within our universe. This includes a number of ‘balanced’, ‘growth’ and ‘conservative’ ETFs.
4. Cash tracking
Upgrading your Sharesight account also allows you to track cash within your Sharesight account, so you can view your complete financial position directly within your Sharesight portfolio. There are a few ways to track cash accounts within Sharesight, including via:
- Sharesight Cash Accounts
- Xero (Currently only available in Australia and New Zealand)
- Macquarie Cash Management Accounts (Only available on Sharesight Pro)
5. Diversity reporting
Does your investment portfolio match your appetite for risk? Diversification is an effective way to manage risk/return, limit exposure to any single asset and align your portfolio with the level of risk appropriate for your personal situation.
Sharesight’s powerful Diversity Report allows you to examine your portfolio across the following dimensions:
- Sector classification
- Industry classification
- Investment type
- Do not group (holdings)
- Custom Groupings (useful for managed funds and ETFs, where sector and industry classifications are often ‘miscellaneous’ or ‘unknown’)
6. Asset allocation reporting
(Available on Sharesight Expert plans only)
If you thought the Diversity Report was powerful, the Sharesight Contribution Analysis Report takes it to the next level. The Contribution Analysis Report explains the drivers behind your portfolio’s performance, be they stock selection, asset allocation, or exposure to certain countries, sectors, or industries.
The Contribution Analysis Report allows you to undertake performance attribution at the individual stock level, or across various categories – including any Custom Groups you’ve created. The report can be run across the entire history of your portfolio or a specific time period.
7. If you upgrade and pay for Sharesight, it’s tax-deductible1
Another great way to save money when preparing your taxes is by upgrading your Sharesight subscription. That’s because in most cases, Australian and New Zealand tax residents can claim their subscription fee when they upgrade to to a paid plan1. And as a bonus, when you pre-pay for an annual subscription, you SAVE 25%!
Important Disclaimer: We do not provide tax advice. Make sure you seek appropriate tax advice before implementing the ideas in this post.
1 If you derive income from the sharemarket, your Sharesight subscription may be tax deductible. Check with your accountant for details.