How can we help?

Browse our knowledge centre.

How do i adjust tax preferences?

The tax preference setting you select to apply for an account will apply whenever you partially sell units in an investment (unless you select specific units to sell when initiating a transaction.

 

How to change tax preferences as a client

  1. Once you have logged into the Netwealth online platform.
  2. Navigate to My Details > Account Settings.
  3. Select the "Tax preference" option in the top banner.
  4. From here, you can adjust the tax preference on all accounts in your name by clicking on the drop down.

 

How to change tax preferences as an adviser

  1. Once you have logged into the Netwealth online platform, please navigate to the account using the "search for a client..." bar. Select the client you wish to change the tax preferences for.
  2. Navigate to Client Details > Account Settings. Select the "Tax preference" option in the top banner.
  3. From here, you can adjust the tax preference on all accounts in your name by clicking on the drop down.

What are the options for tax preferences?

FIFO: Units will be sold on a 'first-in-first-out basis', meaning units with the earliest purchase date will be sold first.

LIFO: Units will be sold on a 'last-in-first-out basis', meaning units with the most recent purchase date will be sold first.

Minimise gain: Units with the highest cost base will be sold with the intent of minimising your realised capital gain.

Maximise gain: Units with the lowest cost base will be sold with the intent of maximising your realised capital gain.

NB: The tax preference setting will determine which units are to be sold based on information available to Netwealth as at the time of sale.

Can't find what you need?

Let us help you with your query. You can contact us on 1800 888 223, or email us at contact@netwealth.com.au

Contact us