Capital Gains Calculation for Tax Return - IAG/NRMA Member Share Allocation with DRS from 20 Years Ago ?

Daniel Plainview on 20/08/2022 - 14:28

Hi,

Just doing the wife's income tax return - a hiccup is that she sold some IAG shares she received as a member of the NRMA way back in 2001! Everyone who was insured by NRMA was given a small parcel of shares when they listed on the ASX.

I found that the ATO decreed that a cost base of $1.78 applies to each allocated share - so thats easy.

The trick is calculating the cost base for the 20 or so years that she was in their Dividend Reinvestment Scheme - so wondering whats the easiest way to work this out?

I was wondering if I setup on Sharesight and backdate will it auto-calculate?

Reminds me why I hate being in DRS - makes taxes a PITA.

Thanks in advance.

Financial Income Tax Return

Comments

  • bemybubble on 20/08/2022 - 14:57
    +3

    I just login to the share registry and download the statements.

    If you can’t go back that far. Best estimate based on yahoo historical prices

  • Daniel Plainview on 20/08/2022 - 15:51
    +1

    Cool - I'll give it a whirl from those - apologies for a pretty lazy question, much thanks.

  • Daniel Plainview on 23/08/2022 - 09:11
    +2

    FWIW ended up putting an entry into my sharesight portfolio - it made it super easy, prefilled all the dividend payments and though I had to change the DRS shares allocated a few times generally it was bang on - worked it all out for me super quickly. :-)

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