Using the AMMA statement and SDS
The Attribution managed investment trust member annual (AMMA) statement and the standard distribution statement (SDS) 2024 are the formats recommended by:
- the Australian Taxation Office (ATO)
- the Financial Services Council (FSC)
- the Australian Custodial Services Association (ACSA).
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. The information below is an example of how to complete the AMMA and SDS.
Use these guidance statements for disclosure by trusts of tax information to resident and non-resident individuals to complete 2024 tax returns, relevant schedules and other requirements.
Trustees of attribution managed investment trusts (AMITs) and attribution corporate collective investment vehicle (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 managed investment trusts (MITs) and attribution CCIV sub-fund trusts are required to lodge an AIIR.
The 2024 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. The streaming rules don't apply to AMITs, 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
Term | Definition |
|---|---|
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 sub-fund trust | A sub-fund of a CCIV that, for tax purposes, is taken to be a separate unit trust. |
Excluded from NCMI amounts | Fund payments that are attributable to income that would be NCMI but for:
|
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 |
Multi-class AMIT | A multi-class attribution managed investment trust that has elected for classes to be treated as separate AMITs |
Net income |
|
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:
|
Share | This will depend on the context, however, generally a reference to an investor's share will be:
|
TAA | Taxation Administration Act 1953 |
Purpose
This guide is designed to help those preparing AMMA statements or an SDS, understand both:
- the basis for the format of the 2024 statement
- the rationale behind the various items disclosed on the statement.
The information contained in this guide 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 don't set out a precedential ATO view.
For more information, see ATO advice and guidance.
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