The 2009 standard distribution statement is the format recommended by the Tax Office and the Investment and Financial Services Association (IFSA) for disclosure by managed funds of tax information to resident individuals for completion of 2009 tax returns, relevant schedules and other requirements.
The 2009 standard format has been developed to help reduce any confusion experienced by managed fund investors in completing their tax returns. The standardisation of terms and presentation used in trust distribution statements to unit holders should promote clarity and consistency. The work of the Australian Shareholders Association and the Australian Independent Retirees Association in originally helping to develop this agreed format is acknowledged.
The 2009 standard distribution statement has amounts included as examples, which are referred to in the guidance notes that follow the statement.
The 2009 version has been updated to reflect law changes and slightly modified to further assist resident individuals complete their tax returns.
Abbreviations
AIIR |
annual investment income report |
CGT |
capital gains tax |
IFSA |
Investment and Financial Services Association |
ITAA 1936 |
Income Tax Assessment Act 1936 |
ITAA 1997 |
Income Tax Assessment Act 1997 |
TFN |
tax file number |
Purpose
These notes have been prepared to help those involved in the preparation of fund manager distribution statements to understand the basis on which the 2009 standard distribution statement format has been determined, and the rationale behind the various items disclosed on the statement.