Just a reminder that clients can request original cost base applied to their inbound CHESS transfers. This is useful if you've transferred stock in from another broker, and you want the original purchase price reflected in your profit/loss figures.
To do this, simply send us an email to enquiries@thinkminc.com.au with the account number & name, plus a list of the securities and the cost base (either cents per share or total dollar cost).
Preferably send this through before you start trading, but if you've missed that opportunity then send through the current total cost base (including trades done at Minc).
Keep in mind that IRESS/IOS uses average cost method when calculating ongoing cost base. That is, sales are applied against the average cost of purchase. If you want to do something more sophisticated in terms of optimising the realised/unrealised component (LIFO, FIFO, manual..) then stay tuned for some new tools in this area..
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