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Yep I bet he wasn't happy....I recommend creating an excel...

  1. 807 Posts.
    lightbulb Created with Sketch. 8
    Yep I bet he wasn't happy....
    I recommend creating an excel spreadsheet to document every trade, that includes the date of trade, the company name, no of shares bought,the buy price, brokerage,total spent, sell date, amount sold, sell price,total received, profit/loss. Also if you have borrowed money to trade with, keep accurate interest charges as this will need to be used for tax calculations as well.
    Your dividends, if applicable, will also need to be recorded. The total received, plus the %franked amount and whether you have held for 45 days before the dividend, to get the imputation credits should also be recorded for your accountant.
    Your accountant will need to have a record of the amount of money you have spent in total, the amount of money you have received in total. The profit /loss value is not enough.
    Hope this helps, get someone to help you with excel if you are not familiar with it, will make your life much easier (and you accountant!)

    Cheers

    Commy
 
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