Hi @Navarre, is there a way to “lock” these for financial year periods?
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I would love to hear an update about what the position here is on this. When I sell my US shares, my brokers ask me specifically which lots i want to sell. This enables me to pick and choose based on the capital gains as well as choose long/vs short for the CGT discount.
However, I can’t represent these sales correctly within navexa. Which means to use navexa, I need to continue maintaining the excel spreadsheet i have to do the tax/track my portfolio (which i was trying to avoid by using navexa).
I’m on the edge of being a subscriber but really want to know what the direction here is on this.
Hi @camm, the short answer to this, is we are still planning on doing it.
The longer answer is, it is quite a complex piece of work and how it factors into our current tax engine.
So we are planning on implementing it this year. I can’t promise however it will be done in time for the end of financial year.
We will post updates in this thread as we get closer to implementing it and we’ll definitely be running a closed beta test on this feature once it is ready.
We’ll put out the call for beta testers in this thread also.
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I understand the need of this initiative to implementation. I have faced the situation quite often in order to balance the portfolio value with my own data to the accountant’s annual return for SMSF. Since they are two different systems, inspite of minimise cgt option used at both ends, there are instances where the portfolio value not reconciling with the tax return figures. In those situations I have used for years adjusting the cost base either by increase or by decrease of cost base. It does help me mostly.
Hi @camm we are doing a lot of talking about this at the moment.
In the meantime we have added new trade types called ‘Cost base increase’ and ‘Cost base decrease’.
This allows you to fix up any historical cost bases so that the current tax reports will be correct.
But we are planning on how to make it fully configurable to you can select parcels etc.
Hi @Navarre, I don’t fully understand how cost base increase and cost base decrease will help in this scenario as it’s not associated with a specific sale?
Hi @camm it allows you to draw a line in the sand at a particular date and say the cost base on this date, is X.
From there our tax reporting engine, will factor that into the calculations.
Thanks @Navarre
Forgive me, but i’m still not understanding how this helps, because with multiple purchases, you’re going to have multiple cost bases. The cost base is specific to the parcel that you’re selling. When I increase/or decrease the cost base - what parcel is it that i’m increasing/decreasing?
E.g on day 1 I purchase a stock at $100, and at day 2 I purchase a stock at $110.
How to I define on my sale if i’m selling stock I purchased at $100, or selling stock that I purchased at $110.
Hi @camm so when you add an adjustment it proportionally applies it to all parcels before it.
So you can add the cost abse adjustments on the exact dates you know when you sold certain shares.
It won’t be as accurate as being able to select the shares (the topic of this thread) but it can get you pretty close.
It’s definitely an interim solution and we will still aim to have a full manual mode.
Hi @Navarre, ok this makes sense, so before any sale you’d need to set the cost base. I’m assuming that by setting the cost base at a particular point, you’re not overwriting the cost base setting done previously? e.g in a timeframe order
- Set cost base
- Sell
- Set cost base
- Sell
By setting the cost base at point 3, you’re not overwriting the cost base set at point 1 before the sale?
This seems like something that’s going to be messy to “undo” once you allow the parcel selection? Do we have any rough indicative time as to when that will be? I perform quite a few sales/purchases so i’d rather not double up/have to undo anything.
Hi @Navarre, although I don’t fully understand the cost base adjustment workaround but I trust it is a viable solution HOWEVER I don’t really want to be want to be mucking around with the cost base etc when that’s what I am paying for. Sorry if this comes off a bit terse I’m just being honest, sharing my opinion. As I mentioned before, tax reporting is the #2 reason I subscribe to a portfolio tracking tool and I am a keen supporter of navexa and have supported navexa on other finance forums I subscribe to.
I am confident you will get this sorted, would be nice if this worked it’s way up the ‘list’ as from the number of views on this thread this is the second most viewed topic. I would also like the added confidence that should any of us be luck enough 
to audited by the ATO we are confident in the reporting tools we have used.
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I ended up downgrading back to Free because without this functionality the taxation/capital gains features aren’t very useful for me, and at that point I might as well track on a spreadsheet and the Navexa platform price point isn’t justifiable.
It’s a shame because there doesn’t seem to be any other share tracking platform out there that has this functionality, so it’s a differentiator.
I’ll be back when this feature is implemented, or on another platform if they beat Navexa to it. So I hope there’s some updates on this post in the near future.
I hear you, I definitely do.
It is something we plan on doing, it’s just a very complex piece of work.
Full transparency, as a startup we’ve had to prioritise other pieces of work that have more broad appeal.
This is so we can continue to grow our customer base and ultimately generate revenue in a sustainable way.
But I am excited about having this feature as part of the Navexa platform.
And it will definitely get done. We are very close to being able to start on this.
Feel free to email me at navarre@navexa.io if you want to discuss it more.
@Navarre also on sustainability and profits, I would encourage you take a look here at one of your major competitors in this space.
This is their feature request for similar functionality, and you can see that people are crying fowl because it’s something you need to do in Australia, but Sharesight appear to be neglecting the market/and ask. This should be an opportunity for you as a key differentiator against a major competitor, in that your focus is Australian markets/regulations and that you understand and account for them.
Hi @camm,
We have moved this feature to our new feedback system (we’ll be shutting down this forum next week).
You can find this feature request here: https://feedback.navexa.io/feedback/91800
The short answer is we are working on this. It is quite complex as it will change the whole way our tax reporting works, so it will take a bit of time.
We know there is demand for this one and it is a priority for us to do.
Hi all, final reply here to let you know this feature will be in beta release later this week.
Please go here: https://feedback.navexa.io/feedback/91800 to track updates.