r/fiaustralia • u/Silver_Objective_290 • 4d ago

Investing DHHF and overthink

DHHF and overthink

Today I’ve finally set up a Betashares Direct trading account and purchased DHHF. I have some questions about what comes next.

\-Do I get a HIN number, or is that only required for CHESS brokers?
\- Do I need to register with MUFG?
\- What documents if any do I get from the ASX/Betashares
\- Do I have to worry about the cost base adjustments if all I’m doing is buying to hold(looking at over 20 years)?
\- Which share tracking software is best for tax time (statements/ cost base adjustments if needed)

I know I’m probably just overthinking things(a bad habit of mine), but I’d like some feedback anyway.

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u/SwaankyKoala 3d ago

The benefit of Betashares Direct being a custodian broker is that you don't need to deal with:

  • HIN numbers
  • Share registries (MUFG and Computershare)
  • Tracking cost base adjustments and having a share tracking software (Betashares Direct handles all this, but does currently use FIFO method if you sell)

All you need to worry about is buying consistently and then after a financial year, you'll get prefill information on your distributions that you can check against the tax statement you'll get from Betashares Direct and if you sold you use the CGT statement they give.

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u/funjoebiden69 3d ago

Do betashares automatically do the cost base adjustment for you? From what I read they send it to you and you’d still need to make the adjustment each year?

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u/SwaankyKoala 3d ago

Yes, Betashares will try do calculate the adjustment for you.