The ATO wants new investors to be aware of the documentation they’ll need to lodge their tax returns.

The ATO often encounters mistakes such as misreporting capital gains from the sale of shares and income in the form of dividends and distributions from taxpayers new to the investing field.

ATO urged taxpayers to keep up-to-date records of:

• The date of purchase/reinvestment.
• The purchase amount/value.
• Details of any non-assessable payments to you.
• The date and amount of any calls (if shares were partly paid).
• The date of sale and sale price (if you sell them).
• Any brokerage costs or commissions paid to brokers when you buy or sell.
• Details of events such as share splits, share consolidations, returns of capital, takeovers, mergers, demergers and bonus share issues.
• Details of capital losses made in previous years – you may be able to offset these losses against future capital gains.
• Dividend or managed investment distribution statements (Standard Distribution Statements).

Source: Public Accountant