Record-keeping requirements for DIY share market investors
Every week we post a tip that we hope will help you become a successful share market investor.
Tip#15 — Record-keeping requirements for DIY share market investors
Many DIY investors become distracted by the administrative tasks associated with managing their portfolio. Essential tasks include:
-
Recording dividends declared and paid to ensure you have dividends statements. Be sure to record franking and other elements such as foreign tax credits.
-
Reconciling dividends against bank statements to ensure you haven’t missed out on any payments due. And make sure there are no anomalies that could cause you issues come tax time.
-
Reviewing your cost bases so that you know both your unrealised and realised capital gains tax position.
If you hate paperwork look for an online system that can automate the recording of transactions and other relevant share investment activity and produce all the information required to complete your tax return in a few clicks.
This information is not a recommendation nor a statement of opinion. You should consult an independent financial adviser before making any decisions with respect to your shares in relation to the information that is presented in this article.
FURTHER READING
Why tax time is so painful for family offices — and what to do about it
We discuss five reasons tax time hits family offices harder than it should, and what better infrastructure looks like in each case.
Sharesight product updates – July 2026
This month, we rolled out a new CGT breakdown schedule on the Australian CGT report, expanded cash reporting with multi-currency, per-broker accounts, and more.
Save time and money by sharing your portfolio with your accountant
It's easy to save time and money at tax time by sharing access to your Sharesight portfolio with your accountant. Keep reading to learn more.