Instructions for completing the question relating to the AMITs receipt of payments from related entities.
Did the trust receive payments from related party transactions during 2022–23?
For the purpose of this question, a related party transaction is one that meets the definition of that term in Accounting Standard AASB 124 Related Party Disclosures (PDF 1.1MB)This link will download a file.
Answer Yes or No as appropriate.
If you answer Yes, enter the total amount of those payments.
Statement of attribution for non-withholding MITs
Instructions and information for completing the statement of attribution for non-withholding MITs.
- When to complete the statement of attribution
- Foreign resident member details
- Trustee assessment details
When to complete the statement of attribution
Complete the statement of attribution for payments to foreign residents if:
- the AMIT is not a withholding MIT, and
- a liability arises for the trustee in respect of an amount attributed to a foreign resident under section 276-105 of the ITAA 1997.
The information disclosed in the statement of attribution must be provided to each member to whom that information relates, to enable them to complete their own tax return.
If you do not make the information available to the foreign resident, you may be liable to pay a penalty.
Foreign resident member details
For each foreign resident member for which the trustee is liable to pay an amount, you must provide the following information:
- tax file number (TFN)
- for individuals
- full name, including title, surname name, and given names
- residential address (street address, not PO Box)
- date of birth
- for non-individuals
- full name of entity, for example, ABC Trust
- business address (this must be a street address, not a PO box).
Trustee assessment details
Trustee assessment code
Enter an assessment calculation code for each foreign resident member that the trustee is to be assessed in respect of.
The AMIT trustee is assessed only on amounts attributed to foreign residents that have not had an amount withheld under the PAYG withholding provisions. See the following table for the relevant assessment calculation codes.
AMIT trustee assessment code – foreign resident member |
Code description |
|---|---|
138 |
An individual, or any foreign resident member that is not a company or a trustee of another trust |
139 |
A company |
140 |
A trustee |
Taxable determined member component
Enter each foreign resident member's determined member components on which the trustee will be assessed and liable to pay tax under section 276-105 of the ITAA 1997.
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