Declaring dividends

forever saving on 07/04/2014 - 13:49

Hi guys, just want to seek some clarification before tax time.

I've received dividends throughout the financial year at different levels of franking and dollar value.
I want to lodge my tax return using ETAX as that is fairly simple for me. But I've never declared dividends before and want to do it correctly.

As far as I know, I am required to present each statement of the dividend payments with the franking credits. I also put in the amount received in dollar value as well as any franking credits applied.

I do not have all the statements, there has been so many this year and I'm sure I've lost a few. I'm using CommSec, is there any way to easily find out all the dividend payments and franking %?

Financial

Comments

  • ja912son on 07/04/2014 - 14:01
    +1

    Find out the share register for the companies you received divs from.Most of them are with Computershare Investor centre or Link. Logon using your details and you should be able to view the Div payment history which gives you previous dividends payment and franking level.

  • Smulder on 07/04/2014 - 14:01

    Check the top of each dividend statement and it will tell you whether she share registry is held by Computershare or Link Market Services. Log into the investor center of the applicable one and you will be able to download all your old dividend statements. ALl the information you need to login is contained on your dividend statement.

    Alternately, you can search TradingRoom for the relevant company, and that will give you a list of dividend rates and franking %. You just need to multiply this by the number of shares you hold.

    Remember, the payment date is the relevant date for tax, not the date declared.

    In eTax, you just enter the Unfranked and Franked amounts, and the franking credit (it may calculate this for you) as per the dividend statement. The amount of cash you receive is irrelevant, as this may include both franked and unfranked amounts.

    Super easy!

  • forever saving on 07/04/2014 - 14:30

    I'll give that a go. I think I have shares with both registries.
    Would I already have an account with them since I'm with ComSec or do I need to register a new account?
    Is there also a way to stop the flood of letters you get? I swear it's one every week.

    • Smulder on 07/04/2014 - 14:39
      +1

      ComSec is your broker, which is different to the share registry.

      You don't need to create an account to check your holding, you just enter the details they ask for (Company you hold shares in, HIN or SIN, PostCode etc) and it will come up.

  • Hadoop on 07/04/2014 - 15:45
    +1

    I also have (franked) dividend paying shares with CommSec.

    In my case, all these details including franked amount come pre-filled when I lodge my tax return with using ETAX. In previous years this only came through a few weeks after the end of the financial year - i guess you need to allow some time for the share registry to process it and send to the Taxman.

    • forever saving on 07/04/2014 - 16:03

      So if I wait a few weeks into the FINYR it will auto fill in upon ETAX?
      Do I need to put my TFN in the individual registries account for this to happen?

      • Hadoop on 07/04/2014 - 16:07

        yes, you do have to supply your TFN.

  • forever saving on 07/04/2014 - 16:19

    So apparently one of my shares is with Advanced which is annoying cause now I have 3 registries to look through.
    Made accounts with Link and Computer which were the main ones.
    Thanks for those who helped. I now have access to my dividend history.

    /CLOSE

  • [Deactivated] on 08/04/2014 - 17:44

    You should be able to get it to process automatically, by preloading the data in etax if you have provided your TFN through your broker.

    Otherwise, you have to check all the share registries. Link Market, Computershare, Boardroom, Advanced Share Registry, Security Transfer Registrars, to name a few.

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