About the AMMA statement and SDS

Who should use the statements and the purpose of the statements.

Last updated 9 August 2023

Who should use the statements and the purpose of the statements.

About the AMMA statement

The Attribution managed investment trust member annual (AMMA) statement and the standard distribution statement (SDS) 2023 are the formats recommended by:

the Australian Taxation Office (ATO)
the Financial Services Council (FSC)
the Australian Custodial Services Association (ACSA).

Use these statements for disclosure by trusts of tax information to resident and non-resident individuals to complete 2023 tax returns, relevant schedules and other requirements.

This document provides guidance to prepare an AMMA statement or an SDS. Parts A and B are common to both statements. There are 2 Part Cs to cater for the distinct requirements of an AMMA statement and SDS.

Trustees of AMITs and attribution CCIV sub-fund trusts must give an AMMA statement within 3 months of the end of the income year to each person who was a member of the trust during the income year. Trustees of non-AMITs and non-attribution CCIV sub-fund trusts should use the SDS for their investors.

Both formats align with the Annual investment income report (AIIR). All MITs and attribution CCIV sub-fund trusts are required to lodge an AIIR.

The 2023 statements that appear below include example amounts that are referred to in the guidance notes that follow them.

Since 2017–18, trustees of MITs must apply the 2011 trust streaming provisions. Trustees of CCIV sub-fund trusts must also apply the 2011 trust streaming provisions. The streaming rules do not apply to AMITs or attribution CCIV sub-fund trusts, which are subject to the separate attribution rules that enable capital gains and franked distributions to be attributed to members for tax purposes.

Abbreviations and glossary

AIIR	annual investment income report
AMIT	attribution managed investment trust
AMMA statement	attribution managed investment trust, or attribution CCIV sub-fund trust, member annual statement
Attribution CCIV sub-fund trust	a CCIV sub-fund trust that is treated as an AMIT for an income year because it satisfies certain AMIT eligibility criteria in Division 276 of the Income Tax Assessment Act 1997
CCIV	corporate collective investment vehicle
CCIV sub-fund trust	a sub-fund of a CCIV that, for tax purposes, is taken to be a separate unit trust.
CFC	controlled foreign company
CFI	conduit foreign income
CGT	capital gains tax
Excluded from NCMI amounts	Fund payments that are attributable to income that would be NCMI but for: Subsection 12-437(5) of Schedule 1 to the TAA – Approved economic infrastructure facility exception Section 12-440 of Schedule 1 to the TAA – Transitional – MIT cross staple arrangement income Section 12-447 of Schedule 1 to the TAA – Transitional – MIT trading trust income Section 12-449 of Schedule 1 to the TAA – Transitional – MIT agricultural income Section 12-451 of Schedule 1 to the TAA – Transitional – MIT residential housing income
FITO	foreign income tax offset
IDPS	investor directed portfolio services
ITAA 1936	Income Tax Assessment Act 1936
ITAA 1997	Income Tax Assessment Act 1997
LIC	listed investment company
member component	for an AMIT or attribution CCIV sub-fund trust, the investor's member component of a particular character – that is, the amount of the AMIT or attribution CCIV sub-fund trust's determined trust component of that character that is attributable to the member in accordance with section 276-210 of the ITAA 1997
MIT	managed investment trust
multi-class AMIT	a multi-class attribution managed investment trust that has elected for classes to be treated as separate AMITs
net income	for an AMIT or attribution CCIV sub-fund trust – the sum of the trust components of a character relating to assessable income as worked out under sections 276-265 and 276-270 of the ITAA 1997 for a non-AMIT – the net income of the trust calculated under section 95 of the ITAA 1936
non-AMIT	a trust (including a CCIV sub-fund trust) other than an AMIT or attribution CCIV sub-fund trust
NCMI	Non-concessional managed investment trust (MIT) income. A fund payment will be attributable to NCMI if it is: MIT cross staple arrangement income MIT trading trust income MIT agricultural income MIT residential housing income
SDS	standard distribution statement
share	This will depend on the context, however, generally a reference to an investor's share will be: for an AMIT or attribution CCIV sub-fund trust – the investor's member component(s) of a particular character for a non-AMIT – the investor's share of the net income (or of a component of the net income) determined in accordance with Division 6 and/or Division 6E of Part III of the ITAA 1936
TAA	Taxation Administration Act 1953
TAP	taxable Australian property
TFN	tax file number
TIN	tax identification number

Purpose

These notes are designed to help those preparing AMMA statements or an SDS, understand both:

the basis for the format of the 2023 statement
the rationale behind the various items disclosed on the statement.

The information contained in these notes and the sample AMMA statement or SDS is not an ATO interpretive advice or a statement of the ATO's interpretation of the taxation laws relevant to the items included in the statement and the notes, their character and calculation of their amounts. These notes do not set out a precedential ATO view.

For more information, see ATO advice and guidance.

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About the AMMA statement and SDS