Introduction
The 2015 standard distribution statement (SDS) is the format recommended by the ATO, the Financial Services Council (FSC) and the Australian Custodial Services Association (ACSA) for disclosure by managed funds of tax information to resident individuals for completion of the 2015 tax returns, relevant schedules and other requirements.
The 2015 SDS that appears below shows amounts as examples that we will refer to in the guidance notes that follow it.
Abbreviations
AIIR |
annual investment income report |
CFC |
controlled foreign company |
CGT |
capital gains tax |
FSC |
Financial Services Council |
ITAA 1936 |
Income Tax Assessment Act 1936 |
ITAA 1997 |
Income Tax Assessment Act 1997 |
SDS |
standard distribution statement |
TAP |
taxable Australian property |
TFN |
tax file number |
Purpose
These notes are designed to help those preparing fund manager distribution statements understand the basis that the 2015 SDS format has been determined on, and the rationale behind the various items disclosed on the SDS.