KOSEC and share reporting

[Nabtower24]

I'm trying to do my 19/20 tax return with a new Accountant. I have an account with KOSEC who traded through Interactive Brokers. I have been given an activity statement for the Financial year but the number of shares that were bought and sold is not the same amounts as recorded by the ATO!!!! My accountant isn't comfortable signing off on the Activity Statement but wants to use ATO figures - which means I have made a profit when I actually made a loss! Have communicated with KOSEC and Interactive Brokers but seem to be going around in circles and they say just use Activity Statement - also no HIN or SRN. Anyone else had this issue???

 

[peter2]

If you've made a loss and have some documentation to prove it then I'd use it. The responsibility for the accuracy of your tax return is yours, not your accountant's. If I'm incorrect with that statement, somebody, please correct me.

The discrepancy, for me, is a bigger concern especially when it's not in your favour. I will say no more.

 

[Nabtower24]

Hi Peter
Thank you for that, I completely agree with you and the discrepancy is what concerns me but no-one can give me an explanation as to how it has happened. So as you say if there is anyone else out there with similar experience or has any recommendations it would be appreciated

 

[PetEarwig]

Hi,
I submitted my own taxes but had a similar issue. The transactions the ATO had on file were missing a couple of my transactions. I added these to my submission as I have documentation to prove the transactions occurred. Not sure why it happens, but I was able to update the information. I am not an accountant though, I just made an assumption that I could update the information. Hope this helps in your decision. Craig