Peter.farmer You haven't been given much useful advice here for...

Peter.farmer

You haven't been given much useful advice here for your question.
This info is for you. I won't go into discussion with anyone else about it.


Each trade/parcel of shares you buy you keep a record as a separate trade. Record company name, purchase date, brokerage and total amount. Use a spreadsheet or write them in a book. If you have several in the one company keep them together.

Now when it comes time to sell YOU and only YOU pick which trade/parcel you want to sell. No such thing as FIFO and averaging is wrong also. NO one can tell you which parcel to sell. Not a broker, ATO or accountant.
If you sell part of a parcel then proportion the brokerage between what you sell and keep. For auditing purposes you need to have a copy of the buy and sell confirmation notices. You also need to record the date you sold the share, brokerage and net amount you received.

Doing a tax return all you need is date bought and sold and total cost of parcel when bought and net proceeds when you sell. Dates are needed for applying the 50% discount for stock held for more than 12 mths.

If you want to learn more go to the ATO website and read or have the Capital Gains book sent to you.

I hope e-trade has the ability to edit your holding - to change your average if it states your average.

Cheers