Hey David. Just a heads up here this is a personal tax question so I can only describe what I’ve done personally. My situation and any tax advice I’ve had won’t be the same as yours, so as always do your own research / get pro advice.

When I’m doing my tax return online (ato.gov website), there is a section for ‘dividend deductions’ when I declare earned dividend income for the year.

When thinking about this for myself, I get that managed fund income is not classed as dividends and has its own section, but I approach it as if its a similar type of income. So, this is where I fill out any deductions I have related to shares as it’s the simplest way to do so, for me.

Aside from that, there may also be a section for ‘other deductions’ or something like that where I could put in other stuff that doesn’t fit elsewhere.

For myself, I am super focussed on making sure the amounts are correct and included – It all ends up as either ‘income’ or ‘deductions’. And this is what determines my total tax liability or refund.

Just to repeat myself, this is just a summary of how I approach this topic generally, to the extent its helpful for your own research or to ask the right questions of your adviser. :)