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How to add a Dividend Reinvestment
How to add a Dividend Reinvestment

This article shows you have to easily add dividend reinvestments, accounting for both the income and new share holdings.

Updated over 5 months ago

If you have shares and choose to reinvest the dividends, the Holdings Tank 'Reinvestment' feature offers a simple way to manage both tax and holdings.

To add a dividend reinvestment, follow these steps:

Step 1 - Navigate to Holdings Tank

Ensure you are in the correct financial year, locate your existing share holdings and select the 'Reinvest' button to open the pop-up.

Step 2 - Complete the Reinvestment Pop-up

Use your Dividend Reinvestment statement to fill in the required fields. There are two main steps in the form:

  • Add the New Shares: Enter the details of the new shares you received.

  • Add the Dividend Income: Record the dividend income.

Let's demonstrate this process using a CBA Reinvestment example, where we've highlighted the relevant information.

From the CBA Statement I can extract the following information to complete the Reinvest popup;

  • Cost of shares allocated = $101.10 each

  • Number of shares allocated = 3

  • Date of Reinvestment = 28th September 2023 (payment date)

  • Franking Credit = $104.91

  • Franked = $244.80

  • Unfranked = $0

  • Cash variance is auto-calculated as the difference between the cost of the shares issued and the dividend payment (which is from the balance brought forward). In this example = $58.50

Once you complete the form select the 'Reinvest' button which will create both the new Share Holding, and the Dividend Income which will be included in the Tax Summary.

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