Tips to make tax time easier with nabtrade

To make the end of the financial year (EOFY) a little easier, we’ve prepared a checklist of information you can obtain via nabtrade to help with your tax return preparations.

You’ll need to log into nabtrade before you get started. If you’ve forgotten your password, you can reset it by:

Clicking Login > Select Forgotten your password? and complete the steps. 

Tip: If you created your nabtrade account as an existing NAB banking customer, your nabtrade User ID will be printed above the magnetic strip on the back of your existing NAB debit/credit cards.

1. Make sure your personal details are up to date

Your details in nabtrade should match with the ATO records to avoid any processing delays in retrieving your information at tax time. 

Click on Admin > Personal Details > Edit to update if required > Enter your Trading PIN > Apply changes 

2. Check your Tax File Number (TFN) is held on all accounts

If nabtrade does not hold your TFN you might be charged Pay As You Go (PAYG) withholding tax at the maximum marginal tax rate (plus the Medicare levy) from any interest you earn on your cash products.  

To check Select Admin > Personal Details > Edit to add if required > Enter your Trading PIN > Apply changes

For Trust or Company accounts: 
Click on Admin > Personal Details > select the relevant Company or Trust account from the Account details drop down > Account Tax Details > Edit to update if required > Enter your Trading PIN > Apply changes

For Joint accounts: 
For joint accounts, please ensure additional account holders also check their TFN is held. To do this, click on Admin > Personal Details > Edit to add if required > Enter your Trading PIN > Apply changes

Why do I need to provide a TFN?

3. Generate reports of your portfolio holdings and total wealth

A Portfolio Holdings Report provides a historical view of your portfolio including ASX-listed holdings, cost base, market value and gain/loss for a specific date (e.g. 30 June 2024).

A Total Wealth Snapshot provides a historical overview of your total wealth including your wealth breakdown, value of ASX-listed holdings and cash account balances for a specific date (e.g. 30 June 2024).

Both can be accessed by clicking Total Wealth  > Reports > Select which report you’d like, the date from which you’d like the information and account(s) > Then Generate report > After your report is generated click Download report

NAB Equity Lending reporting is provided by the Equity Lending team. For further assistance contact NAB Equity Lending. 

4. Download your transactions in an Excel spreadsheet 

The Transactions Report available through nabtrade will provide you with a handy consolidated view of your trading account over a selected time period (such as last financial year).

This report will provide you information on your:

• Trades
• Interest earned on nabtrade Cash and High Interest accounts
• Domestic and international dividend payments (where paid into the nabtrade cash account)
• mFund and ETF distributions (where paid into the nabtrade cash account)
• Brokerage and market fees
• Holdings as at your selected end date (e.g. 30 June)

To access the Transaction report click on Total Wealth > Reports > Transaction Report

5.  Access your cash statements

Cash statements are generated automatically for all nabtrade Cash Accounts and High Interest Accounts, and available to view on the nabtrade site. This statement will show your interest earned, account balance summaries and transaction activity during the 2024 financial year for both the Cash and High Interest Account.

Cash statements are generated half-yearly by default. You can download your previous cash statements under Accounts > Select the Cash Account you wish to retrieve the statement for > Statements > Select the PDF icon for the specific period you wish to retrieve information for

Note: Your nabtrade Cash Account and nabtrade High Interest Account statement are one and the same. All high interest account transactions will be within the linked cash account statement.

6. Dividend payments

Share registries are responsible for maintaining dividend records for individual companies as well as listed investment companies and exchange-traded funds. Please refer to your dividend statements for distributions and franking credits you may have received.

If you don’t have physical copies of your dividend statements these can often be found online through the relevant share registry website. You can log in directly with your HIN under single holding access or using your registered membership details with that registry.  International Dividend information can be found in the Transactions Report (see item 4 above)

Tips:

• Don’t know the share registry for the companies you are seeking dividend statements from? Visit the ASX company information page and then:
  • Type in the company, LIC or ETF code and click Go
  • Click on the Details tab and refer to Share registry
• Get faster access to your dividend payments without all the paperwork with nabtrade. Learn more about dividend crediting. Find out how.

7. Send confirmation notes to multiple email addresses

Want to receive confirmation notes across multiple email addresses? You can do this by clicking Admin > Settings > Delivery methods > Edit > Enter additional email addresses > Enter your Trading PIN to confirm > Apply changes

Tips: This feature might be particularly useful if you, for example, would like your accountant to automatically receive confirmation notes.

If you’re an SMSF trustee and your accountant or fund administrator uses Class Super you can speak to them about activating data feeds with nabtrade. For more information, on data feeds, visit our information page on Data Feeds available through nabtrade. 

For more valuable information about getting the most out of nabtrade please visit our Support page. 

Analysis as at 29 May 2024. This information has been provided by WealthHub Securities Limited ABN 83 089 718 249 AFSL No. 230704 (WealthHub Securities). WealthHub Securities is a Market Participant under the ASIC Market Integrity Rules and a wholly owned subsidiary of National Australia Bank Limited ABN 12 004 044 937 AFSL No. 230686 (NAB). Whilst all reasonable care has been taken by WealthHub Securities in reviewing this material, this content does not represent the view or opinions of WealthHub Securities. Any statements as to past performance do not represent future performance. Any advice contained in the Information has been prepared by WealthHub Securities without taking into account your objectives, financial situation or needs. Before acting on any such advice, we recommend that you consider whether it is appropriate for your circumstances. Any advice and information in this publication is of a general nature only. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of an individual’s liabilities, obligations or claim entitlements that arises, or could arise, under taxation law, and we recommend that you consult a registered tax agent. WealthHub Securities Ltd.  is not a registered tax agent.