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Standard distribution statement

Last updated 15 June 2014

 

2014 tax return information for the year ended 30 June 2014

Part A: Summary of 2014 tax return (supplementary section) items

The labels at items on the tax return are the white letters inside coloured boxes on the Tax return for individuals (supplementary section) 2014 (NAT 2679). If you choose to use a tax agent to prepare your income tax return, advise them to rely on the information in this statement rather than information that may be displayed in the tax agent's pre-filling service.

Tax return (supplementary section)

Amount

Tax return label

Share of non-primary production income

65

13U

Franked distributions from trusts

100

13C

Other deductions relating to non-primary production distributions

4

13Y

Share of franking credit from franked dividends

30.00

13Q

Share of credit for tax file number amounts withheld from interest, dividends and unit trust distributions

10.00

13R

Total current year capital gains

225

18H

Net capital gain

155

18A

Assessable foreign source income

220

20E

Other net foreign source income

220

20M

Foreign income tax offsets*

38

20O

*If your total foreign income tax offset from all sources for the year is $1,000 or less, then you can claim this amount in full. Otherwise, you will need to refer to the publication Guide to foreign income tax offset rules (NAT 72923) to work out your entitlement.

Part B: CGT information - additional information for item 18

Capital gains: discounted method

140

(grossed up amount)

Capital gains: other method

85

Total current year capital gains

225

CGT concession amount

70

Tax-deferred amounts

30

Part C: Components of distribution

 

Cash distribution

Tax paid
or tax offsets

Taxable
amount

Australian income

 

Franking credits

 

 

 

 

 

Dividends:
unfranked amount

60

 

60

Interest

20

 

20

Other income

15

 

15

Less other allowable trust deductions

-30

 

-30

Non-primary production income (A)

65

 

65

Dividends: Franked amount (Franked distributions) (X)

70

30.00

100

Capital gains*

 

Foreign income tax offset**

 

Discounted capital gain

65

5.00

70

CGT concession amount

70

 

0

Capital gains: other method

83

2.00

85

Distributed capital gains (B)

218

7.00

(Total 225)

Net capital gain

 

 

155

Foreign income

Assessable foreign source income

189

31.00

220

Cash distribution (C)

189

38.00

 

Cash distribution sub-total (add A, X, B and C)

542

 

 

Other non-assessable amounts

Tax-exempted amounts

25

 

 

Tax-free amounts

15

 

 

Tax-deferred amounts

30

 

 

Gross cash distribution

612

 

 

Other amounts deducted from trust distribution

TFN amounts withheld

-10

 

 

Other expenses

-4

 

 

Net cash distribution

598

 

 

* For non-residents: While the SDS does not address all the needs of a non-resident investor, the capital gains amount that you are liable for Australian tax on is that relating to taxable Australian property (TAP). [xx.xx]#% of the [Discount capital gain/Capital gains – other method]# amount is the TAP amount. Generally, for a managed investment fund the TAP amount will be the same as the taxable Australian real property (TARP) amount. Additionally, a non-resident will not be liable for Australian income tax on capital gains from TAP if managed investment trust withholding tax is payable on the capital gains.

** The tax offset is available to non-residents only in circumstances where the foreign income distributed to the non-resident is included in their assessable income in Australia.

# The fund manager must determine the bracketed items - % and the type of capital gain. The brackets, this note and the # do not form part of the statement.

QC40281