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This guide shows how to take the figures from your Sharesight reports and enter them into the ATO's myTax portal. We'll go section by section, in the same order myTax presents them: dividends, managed fund and trust distributions, capital gains, and foreign income.

Disclaimer: This is a general guide only. Everyone's tax situation is different, so please check with your accountant or a registered tax agent before relying on any of this. Sharesight does not provide tax advice.

Before you start — get your Sharesight portfolio straight

Every number you enter comes out of a Sharesight report, and those reports are only as good as the data behind them. Before you begin, make sure your portfolio is reconciled and complete:

• All your buys and sells are recorded, with the right dates and prices.
• Your dividends are complete and confirmed, including any dividend reinvestment (DRP).
• Corporate actions have been applied — share splits, consolidations, mergers, demergers, and returns of capital.

If you hold ETFs or managed funds: also reconcile your annual tax statement against Sharesight and save and confirm each distribution first — otherwise your capital gains won't be complete. See ETFs in Sharesight and Why don't my capital gains match the ATO pre-fill in myTax?.

Personalise your return

In myTax, go to Personalise your return and tick the sections that apply to you. Which ones you need depends on what you hold, but for most Sharesight users it's these:

• Interest — if you hold cash accounts
• Dividends — if you hold ASX-listed shares
• Capital gains or losses (that are not from a managed fund or trust distribution) — if you sold anything during the year
• Managed fund or trust distributions — if you hold ASX-listed ETFs or LITs
• Foreign income — if you hold international shares that pay dividends

Dividends

This section is for dividends from Australian companies.

Most of your ASX dividends are already pre-filled, because the share registries report them to the ATO. So your job here is to check them against your Sharesight Taxable Income Report rather than type them in. For each dividend, confirm the unfranked amount, the franked amount and the franking credits all match.

Example: for CSL you received $36.76 unfranked — this should match the figure in your Taxable Income Report.

• If something doesn't match, work out why before you decide whether to overwrite the pre-filled figure.
• If a dividend is missing entirely, click Add to enter it manually. Enter the company under Company or trust, set the number of account holders (usually 1, unless it's a joint-name portfolio), then copy the unfranked amount and franking credit across from your Taxable Income Report and Save.

Managed fund and trust distributions

This is where you enter your ETF and trust distributions — Australian-domiciled ETFs like VAS, VGS or IVV, listed investment trusts (LITs), and managed funds.

Most of the tax components are pre-filled from the fund's annual tax statement. If you've already reconciled Sharesight against your tax statement, this is the same check one more time — Sharesight vs myTax. Make sure the amount for each tax label matches.

Reconciling your annual tax statement against Sharesight? See ETFs in Sharesight and Annual Tax Statement Components.

Why bother, if it's already pre-filled?

Because the ATO doesn't track your AMIT cost base adjustments. Every financial year your fund tells you the AMIT adjustment for that one year. If you've held your ETF for ten years, that's ten separate adjustments that all need to be carried forward and applied to your cost base. That's what Sharesight is doing — the reconciliation you do each year isn't for this year's tax return, it's for the year you eventually make a sale.

Capital gains or losses

This is where all your disposals for the year go — Australian and international together. There's no separate section for foreign shares.

You'll see some pre-filled details here, usually the sale value of your ASX shares. That's a reference only — it doesn't flow into any field, and it's the sale proceeds only. The ATO knows how much you sold for, but not the price you paid, so it can't work out your gain.

The figures you actually enter both come straight from your Sharesight Capital Gains Tax Report:

Before you enter these: make sure any capital losses from previous years are entered in Sharesight under Losses Carried Forward. If they're not in there, your net capital gain will be overstated and you'll pay more tax than you need to.

Capital gains over $10,000 — CGT schedule

If your total capital gain or loss for the year is more than $10,000, myTax will ask you to complete a Capital Gains Tax Schedule — a breakdown of your gains by asset type. Sharesight produces this for you: in the CGT Report, select Display CGT schedule breakdown. It splits everything out — Australian shares, international shares, listed unit trusts (e.g. ETFs), other assets (e.g. crypto), and capital gains the fund passed through to you — ready to copy into each field.

Foreign income

This is where you enter dividends from foreign companies you hold directly (e.g. US shares). These are generally not pre-filled.

Click Add, then choose the type: Other foreign income from a financial investment. Using AAPL as an example:

All figures should already be converted to Australian dollars.

The gross amount is the one to get right: if Apple paid you a dividend and 15% US withholding tax came out, you declare the full amount, not what landed in your account. The tax withheld then comes back to you as a foreign income tax offset.

Overseas assets question: myTax asks whether you held overseas assets worth AUD $50,000 or more at any point during the year — note that's at any time during the year, not at 30 June, and you value at cost or market value, whichever is higher. If you're not sure whether something counts, ask your accountant.

Disclaimer

Sharesight does not provide taxation advice and this does not constitute personal taxation advice. If you have any questions about your tax position we recommend you contact your accountant or a registered tax agent.