• The place to find the right expertise and make better decisions
  • Find the right expertise
Sue L.
Sue L.
Bli Bli, QLD
0 Likes
0 Followers

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?

7 years ago

Responses

Hi There,

Ok without looking at the form you have I would suggest that you have

1. Date of Acquisition
2. Price per share
3. Number of Shares
4. Cost Brokerage

Then next to it

1. Date of Sale
2. Sale price per share
3. Number of Shares
4. Sale Brokerage

The difference is then your gain.

Hope that helps...


AJ

7 years ago

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?

Ok so sales price means price of share times the number of shares.


AJ

Hope that helped.

7 years ago

Thank you for your help I appreciate it.

Your Answer

If you wish to include a video or audio response, you can do this by including links to Youtube, Vimeo or SoundCloud (https://www.youtube.com/watch?v=xxxxxxxxxx OR https://vimeo.com/xxxxxxxxx)

<% error.message %>