Many of our clients have Share and Crypto Currency transactions.
We want to minimise these accounting fees for our clients with Crypto and Shares.
Shares:
For individuals, your investment companies send the details of Dividends paid to your MyGov record and provide the details to us as your tax agent. However, we do not receive details needed for Capital Gains Tax. These details can be complex as company takeovers and mergers have specific and costly calculations. For taxpayers with Shares we recommend a service called Sharesight. Sharesight can record and provide the information to us in an accurate, cost-effective way. The Sharesight subscription can be significantly lower than our fee to calculate capital gains tax particularly when you own five or more parcels of shares.
We cannot provide a discount code for this service as we are not affiliated and do not accept “kickbacks”.
More details here: https://www.sharesight.com/au/pricing/
Crypto:
Unfortunately, the ATO requires tax reporting on almost everything, even swapping wallets! Accounting fees for a simple Crypto portfolio can easily exceed $600 because of the ATI requirements!
All clients with Crypto will save fees by using a service called Koinly.
More details here: https://koinly.io/features/
Equally, we cannot provide a discount code for this service as we are not affiliated and do not accept “kickbacks”.
Please do not forget to import your history transactions for any tax year that you wish to lodge and also for all cost base information.
If you have any questions, please do not hesitate to contact us.
