If you own shares you will know how annoying it is at tax time to gather up all of your dividend statements. Worse still....the horror of paperwork when you sell shares that have been in a dividend reinvestment plan! Do you know you have to go back to EVERY dividend statement to calculate the cost base for all of your shares!
On top of that trying to manually calculate how your shares have performed is not a simple task. Have you ever looked at the total return on investment for your shares?
Have you ever tried to work out what your capital gain is on your shares before you sold them?
Sharesight = 1 click reporting, no more paperwork or excel spreadsheets!
Sharesight is a cloud based share portfolio system that you can access from anywhere with an internet connection. It tracks all of your purchase and sales information as well as automatically updating dividends and adjustments. No more entering purchases and sales into spreadsheets or losing purchase information when it's time to sell!
How does Sharesight work?
It's really simple.
You just email all your trade confirmations. Purchases and Sales. You can even eliminate this step by having your broker email Sharesight directly.
If you already own shares all you need to do is email your old contract notes and the entire history will be setup automatically for you! How cool is that.
Sharesight then automatically records corporate actions such as dividends, share splits and capital returns. Automatically! You don't have to do a thing.
You get a simple weekly report emailed to you showing you the performance of each of your shares.
You can log in, click 1 button and have a report of what your capital gain would be if you sold any of your shares.
When you sell just simply email the sale confirmation and Sharesight automatically calculates the capital gain.
How much does Sharesight Cost?
If you have less than 10 shares in your portfolio and you want to go it alone (i.e. don't need help from Growthwise) Sharesight is free. Just head to the Sharesight website and sign up!
If you have more than 10 shares Growthwise can setup your Portfolio for free with an ongoing monthly charge of $12/Month. This ensures we have the setup perfect for calculating your taxable income from shares each year as well as capital gains.
Note the above assumes your shares are all in the same names.
Just click this link to request Growthwise to Setup Sharesight for you.
Why is Growthwise so in Love with Sharesight?
Paperwork sucks. More and more Australians are setting up share portfolios to help build wealth. If you hold onto your shares for a few years it's no easy task to keep track of things, especially if you elect for dividend reinvestment plans.
We prefer our clients to get out into our beautiful sunshine than have to keep excel spreadsheets or file dividend papers.
AND we like to ensure we can tell you how much tax you will pay if you sell any of your shares during the year.
We've been searching for tools that help us all #banadmin in our lives for the last few years. All the gang at Growthwise who have shares use Sharesight. And we all love it. What used to take us 3-4 hours at tax time to organise now takes less than 5 minutes.
Oh and the cost of Sharesight is TAX DEDUCTIBLE!
Who wouldn't be in love with Sharesight.
Want to super charge your admin and paperwork free life!
Check out what we do with your personal wealth portal. We can link your Sharesight Portfolio giving you a complete picture of your income, expenses, assets and loans!
