Booking for Share Investment via a Trust

Discussion in 'Share Investing Strategies, Theories & Education' started by Strawbs, 15th Jan, 2013.

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  1. Strawbs

    Strawbs Member

    Joined:
    1st Jul, 2015
    Posts:
    23
    Location:
    Melbourne
    Hi All,
    We have established a Trust structure for our share investments. Can anyone point me to a website/book which outlines the standards for book keeping when purchasing, selling, etc?

    Thanks.

    PS I recently posted a request to clarify the purchase of shares but since then we have sold some, received dividends and the like so I am looking for something a bit more comprehensive.
     
    Strawbs, 15th Jan, 2013
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    18th Jun, 2015
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    Australia wide
    I use a discretionary trust to own and trade shares. I just plug my trades into an excel spreadsheet. Not much book keeping needed.
     
    Terry_w, 15th Jan, 2013
    #2
  3. Strawbs

    Strawbs Member

    Joined:
    1st Jul, 2015
    Posts:
    23
    Location:
    Melbourne
    Thanks Terry. I also use Excel given the volumes are pretty small for me (I purchase every quarter).

    My question was meant to be more about the standards that need to be applied when buying and selling shares in addition to receiving dividends. For example, I know that when buying shares the brokerage fees need to be capitalised but what is the entry for selling?
     
    Strawbs, 15th Jan, 2013
    #3