answered
Q: I'm helping an elderly friend keep track of their shares for taxation purposes. Their accountant gave them a form to complete for which they did remember what information needs to be put in each column. However on the sales side of this particular form is a column called Sales Value. They have forgotten what figure goes in here. Do they put the gross figure of the sale of shares which includes the brokers fees or is it the net figure excluding the brokers fee into this column?
A: Thank you for your help I appreciate it.
answered
Q: I'm helping an elderly friend keep track of their shares for taxation purposes. Their accountant gave them a form to complete for which they did remember what information needs to be put in each column. However on the sales side of this particular form is a column called Sales Value. They have forgotten what figure goes in here. Do they put the gross figure of the sale of shares which includes the brokers fees or is it the net figure excluding the brokers fee into this column?
A: Hi Andrew,
Thank you for helping me, the form I have has a purchases side and a sales side. I apologise for not listing the columns for you in my original question. On the sales side of the form the columns are as follows:
1. Date
2. Quantity
3. Price
4. Sales Value
5. Brokers Fee $
6. Stamp duty $
7. CPI
8. Balance (No. of shares)
9. Capital Gain (or loss)
10 C.G.T - Y/N
11. Reported to Tax Dept
I am looking at a SELL confirmation form from CommSec I would put Net proceeds (which excludes the brokers fee) in the Sales Value column?
question
Q: I'm helping an elderly friend keep track of their shares for taxation purposes. Their accountant gave them a form to complete for which they did remember what information needs to be put in each column. However on the sales side of this particular form is a column called Sales Value. They have forgotten what figure goes in here. Do they put the gross figure of the sale of shares which includes the brokers fees or is it the net figure excluding the brokers fee into this column?
