Broker that keeps records for AFI's Bonus Share plan

[seven7]

Hi
I am looking at buying some AFI and using their Bonus Share plan instead of DRP for tax reasons.
Is their a broker that keeps track of the needed adjustments in share price due to the bonus shares? I am looking for a broker that does this so that when I (or my estate) eventually sell these I don't have to sort through 20years or so (hopefully) or adjusted share prices due to participating in the Bonus Share plan.
Ideally the broker would do this and life would be much simpler towards the end.

 

[rnr]

Hi
I am looking at buying some AFI and using their Bonus Share plan instead of DRP for tax reasons.
Is their a broker that keeps track of the needed adjustments in share price due to the bonus shares? I am looking for a broker that does this so that when I (or my estate) eventually sell these I don't have to sort through 20years or so (hopefully) or adjusted share prices due to participating in the Bonus Share plan.
Ideally the broker would do this and life would be much simpler towards the end.

Would this site be of any help?

 

[seven7]

Would this site be of any help?

Hi
Thanks for taking the time to reply.

The site you linked is AFIC's site.

I know it fairly well. AFIC has a Bonus Share plan which can be used in place of the DRP so that no tax is payable until you sell. Yes it's called the DSSP and is good for people on a high tax rate.

The only hassle is keeping track of the changing cost base each time you receive a dividend. I am after a broker who keeps track of this for you each time you receive bonus shares.

 

[rnr]

Hi
Thanks for taking the time to reply.

The site you linked is AFIC's site.

I know it fairly well. AFIC has a Bonus Share plan which can be used in place of the DRP so that no tax is payable until you sell. Yes it's called the DSSP and is good for people on a high tax rate.

The only hassle is keeping track of the changing cost base each time you receive a dividend. I am after a broker who keeps track of this for you each time you receive bonus shares.

Am I correct in assuming that you prepare your own tax return?

 

[rnr]

Hi seven7,

I doubt that you would find a broker prepared to provide that service for you.

That said, having looked at AFIC's RULES OF THE DSSP it would be very easy to set up an Excel spreadsheet to calculate the "cost per share" of your holdings as the years pass by.

 

[pixel]

What's the problem with maintaining your own spreadsheet for each position ?
If you use a low-cost broker, chances are minimal that they'll offer extra luxury. If you're lucky and find one of the remaining full-service brokers that provides those extras, the associated costs would dwarf the benefits of maintaining a spreadsheet. Once it's been set up properly, all you need is add one line each time you add a parcel of shares. Call it 3 minutes Excel work, twice a year.