Financial Year End Marks a Taxing Time for Share Traders

News provided by

CMC Markets

Jul 27, 2013, 03:00 ET

Sydney, Australia (PRWEB) July 27, 2013 -- Powered by Sharesight, the portfolio manager automatically provides frequent traders with access to all their historical trade information in one spot, saving time and money otherwise spent on administration.

In addition to reporting dividends and tracking shareholdings, the free tax tool allows traders to calculate capital gains and losses as well as review capital gains tax (CGT) positions at any time throughout the year. The tool can also rank shares by performance.

Michael Connaghan, Head of IT at CMC Markets Stockbroking said while many brokers provide clients with an annual portfolio statement to help complete their tax return, few allow traders to monitor and calculate CGT positions in real time.

"Selling shares is one of the most common ways to make a capital gain or capital loss, and working out your CGT liability at tax time can be difficult," Mr Connaghan said. "CMC Markets Stockbroking’s online share portfolio manager helps frequent traders manage their portfolio more efficiently and reduce the admin and time burden around tax time."

Access all your trading history in one place

Each time you trade, your transactions are automatically recorded in your Sharesight portfolio. If you have an extensive trading history with more than one broker, you can easily import your data in just a few clicks.

The online share portfolio manager is free for CMC Markets Stockbroking clients with one portfolio and fewer than 10 share holdings. Traders with multiple or larger portfolios can access the tool at a reduced cost.

CMC Markets Stockbroking offers the lowest brokerage in Australia of $9.90 per trade while also offering innovative features including risk management tools, charting research and education as well as a rich mobile trading platform.

Visit http://www.cmcmarkets.com.au/stockbroking for more information.

Jane Keeley, CMC Markets, http://www.cmcmarkets.com.au/, (02) 82212124, [email protected]