- Joined
- 18 October 2012
- Posts
- 144
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- 33
If you intend to invest in the market for a long time ..I recommend get this piece of software
http://www.topshare.com.au/
it keep track of everything and you can go back in time and work out, what, where, when and when it comes to tax time it takes you 5 minutes for do....hit the tax report button...
excel is good but if you have to go back 5 years and said what you paid for what at what price and when you got dividend and how much and cross check back to the time you sell now, it can be a pain unless you write some macro for it... for $250 and it's a one time purchase and it will save you a lot of time....
it also do capital gain minimisation for you, when you sell shares, and you have multiple parcels...tell it
to minimise your capital gain and it automatically work out the perfect combo to minimise your gain, excel could be a bit of work...
$250 and tax deductible too. Pretty sure that would come in handy with all the capital gains you probably make that may put you in the high marginal rate . akin to as if you're getting it for half price in order to save on time.