Navarre Trousselot

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492 appearances 1 recordings 1 series first heard Jun 2026 last heard 10 Jun

Navarre Trousselot’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · ETF tax traps, CGT and cost base adjustments with Navarre Trousselot · 10 Jun 2026 podcast

So if you've been dollar cost averaging into a stock or an ETF for a period of time, say you bought a parcel every month for 12 months, you have 12 different parcels of that holding.

Now, when you sell some in the future, you get to choose which parcels you're actually selling.

And in some tax jurisdictions overseas, you don't have that flexibility.

So they force you to either use first in first out or an average.

And it's always the same.

You don't have that kind of movement.

But the con of that approach means without the flexibility, you can't impact your tax.

So in Australia, you can do that.

And because it's up to you, they can't pre-fill it because they don't know what parcels you've decided to sell.

So the government, of course, know that you own 100 units of VAS, for example.

but when you go to sell some it's up to you to tell them which parcels you sold so that's why that part can't be pre-filled and that's actually a good thing because if they wanted to switch to a model where they pre-filled it means we'd lose all that flexibility over which parcel we sold and that would actually be a bad thing so while it increases the record-keeping burden on us investors

it means we can get much better tax outcomes financial year to financial year.

If you know what you're doing.

Exactly.

Yes.

So this one, this one continues to blow my mind because I speak to a lot of investors all the time and people have been buying into ETFs for like a decade or more.

And they have no idea that they've been doing the tax wrong every single year.

And then it's only about to get worse with the new proposal.

The pre-fill is a trap because with ETFs, the pre-fill does some of the job.

So when you get an ETF distribution, so if we use VAS, for example, which is a super common one, you get four distributions throughout the year.

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