Sharesight users - Feature Requests

I've made some suggestions directly to Sharesight (thanks for MFunds integration), but would love to see more diverse super integration. For example, I use Qsuper, but am forced to use a proxy in the form of Energy Super to give total holdings. It isn't really that accurate.

 

Hi David

Now you can track property etc, It would be great if they made sharesight into something resembling Personal Capital

 

Hi Everybody,

Does anybody know how to actually convert options to the heads correctly within Sharesight? I've tried the merge but doesn't seem to do it right.

Cheers. Daniel

 

On date of conversion I record sale of the options with a transaction price the same as the cost base, then a buy for the heads at cost base of options + exercise price.

( this was the basic process that was previously explained on the sharesight community forum which has now been closed )

 

Hi Guys,

I own a few shares in Magellan's MGE which has just been converted to MGOC.
Any pointers as to how to record this conversion in sharesight?

Disappointing to see the community forums where closed so quickly, I understand this is on the provider side, not Sharesight's.

 

Could you please give an example for this?

Let's say, I have IBXOA options.
Bought 100,000 IBXOA @$0.03 on 10th Aug 2020 so the cost base = $3000 + $20 (brokerage)=$3020.
Let's assume I convert this to heads on 2nd Jan 2021 by paying the exercise price of $0.03 per option. So will pay $3000 (100000 * 0.03).

How do I convert this entry in Sharesight?

I can create a new entry for IBX with the total cost of $3020+$3000=$6020. But should I use the date as the date of buying the option (IBXOA i.e., 10th Aug) so that it will be counted for CGT.
In your statement you are saying to close the option with the cost base i.e., CGT for the options is $0 but then if we create a new entry for the heads and use the date of exercise then we will lose time holding the options for CGT concession.
I would appreciate if someone can clarify this.

 

For IBXOA record a sell transaction on 2 January 2021 at 100,000 x $0.03 + brokerage $20.00
( effect of this is that $0 gain or loss is recorded )

For IBX record a buy transaction on 2 January 2021 at 100,000 x $0.06 + brokerage $20.00
( has effect of full cost base being $6020 )

According to the ATO:

1. The CGT clock starts ticking on the date you exercised the options that created the new shares
   ( this means you need to wait a full 12 months to be eligible for the CGT discount )
2. The cost base is the cost base of the options (including brokerage) + the exercise price

Work out the correct treatment of rights or options

Answer 3

• The shares or units you acquired when you exercised the rights or options are subject to CGT.
• The acquisition date of the shares or units is the date you exercised the rights or options.
• The first element of the cost base and the reduced cost base of the shares or units is the sum of
  • the cost base of the rights or options at the time of exercise
  • the amount you pay for the shares or units when you exercise the rights or options
  • any amount included in your assessable income because you exercised the rights or options on or after 1 July 2001.

 

@wombat777 I am wondering if perhaps you would know the answer to this as you seem pretty fluent in Sharesight? Any help would be appreciated!
Cheers

 

I think it is best that you contact sharesight.

They may already have a way to do this manually and if not they may be able to make a change to sharesight software.

 

Did you figure it out, Ouga? I think I stumbled upon the solution today. Go to the page for your MGE holding, and scroll down to Holding Settings. Then select Merge Holding and merge to MGOC with the appropriate date and quantity.

 

Thats' absolutely right!
Here is what Sharesight said:

You just need to use the merge feature to convert MGE to MGOC.

Merge: Mergers | Sharesight Help

 

The problem is the functionality doesn’t seem to cater for the cost of exercising the options. It may also result in capital gains being incorrectly calculated.

 

Not sure about CGT here, in this case it was not about options rather a listing code change following a restructuration.

 

Ok thanks.

 

David is there any chance we can take contract note forwarding integration for Stake ASX trades?

 

We plan to add support for Stake ASX trade confirmations soon, we received some sample PDFs from Sharesight users late last week, so the dev work to support this shouldn't be too far away.