If you have made distributions throughout the financial year, you can create and send tax statements to all of the investors who received a distribution payment.
To view historic tax statements created, from the menu select Fund Admin and Tax statements. Here you can see a list of historic tax statements created. To create new tax statements click on create new tax statement report.
- Creating new Tax statements:
- Select the financial year applicable from the What financial year is this report from drop-down list.
- Select the security you wish to create the tax statements for from the Select one or multiple securities drop down or click on the Include all securities check box for Include all securities.
- Include all investors (for the securities selected above) drop down:
- Click 'Yes, include all investors' to include all investors
- Click 'No, I want to exclude some investors from this payment' to exclude some investors
- Click 'No, I want to manually select who will be included in the payment' to include some investors
- The left hand side of the screen will then populate details of Payments made for the financial year selected and the related securities.
- To create the statements you need to add the Cash components This is based on percentage of the distributions paid out to each investor. The sum of the Cash components must be 100%
- Finally you need to add the Tax components (non cash components) e.g. franking credits. This will be distributed based on the distribution amount ($) paid to the investors i.e. (total tax components / total cash distributed for the financial year) * distribution amount paid to each investor.
- When you have added all of the relevant Cash components and Tax components you can Generate report.
- You will then return to the Tax statement reports page and once the statements are generated click on View tax statements to review the tax statements created.
- The tax statements will then be view-able for all the related investors where you can review the Gross amount, Tax withheld, Net amount and Total tax credits.
- If changes are required, delete the statements and repeat the process with the corrections.
- Once you are happy with the Tax statement report you can Send tax statements to investors by email or download a PDF version to send by post to investors who don't have an email address recorded.
- The details recorded here will then be used to create the Annual Investment Income Report (AIIR)