Show download pdf controls
  • myTax 2020 Managed funds

    Complete this section if your only source of income from trusts, capital gains or foreign income is from managed funds.

    On this page:

    Things to know

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    If you received a managed funds statement that shows income, deductions or credits, you can show the distribution amounts at this section.

    Some examples of a managed fund include:

    • cash management trust
    • money market trust
    • mortgage trust
    • unit trust
    • property trust
    • share trust
    • equity trust
    • growth trust
    • imputation trust
    • balanced trust.

    If you are unsure whether you have invested in such a trust, check with the entity in which you have invested.

    Completing this section

    We pre-fill your tax return with information provided to us by managed investment funds and trusts. Check them, and add any managed fund distributions you received that has not pre-filled.

    If the information is not pre-filled, you will need your statement from the managed fund. Your statement will indicate where you need to show the amounts on your tax return.

    • Your statement may include the:  
      • tax return label (such as 13U)
      • tax return field name (such as Non-primary production income).
       
    • In myTax at Managed fund distributions enter the amount at the corresponding field, such as 13U. Total non-primary production income.

    If you think that any detail is wrong or is missing from the statement, contact the fund manager.

    To personalise your return to show managed fund distributions, at Personalise return select:

    • You had Australian interest, or other Australian income or losses from investments or property.
    • Managed fund distributions (including where distribution has capital gains and foreign income).

    To show your managed fund distributions, at Prepare return select 'Add/Edit' at the Managed fund distributions banner.

    At the Managed fund distributions banner:

    1. For each managed fund distribution not pre-filled, select Add and enter information into the corresponding fields.

      Joint accounts
      If you had a joint account, show the number of account holders and the total amounts. MyTax will divide the amounts equally between the number of account holders.

      You may alter your share of the amounts. If you do, keep a record of how you worked out your share.
    2. For each managed fund statement that has a 13S. Total credit for tax paid by trustee greater than '0':      
      1. select the Reason the trustee paid tax
      2. enter the Share of income.
    3. Select Save.
    4. Select Save and continue when you have completed the Managed fund distributions section.

    Notes

    • If your only capital gains are from a managed fund and, at the Managed fund distributions section, your share of the current year capital gains is more than $10,000:    
      • myTax will prompt you to complete the Capital gains or losses section
      • myTax will complete Total current year capital gains and Net capital gain in the Capital gains or losses section from information shown in the Managed fund distributions section, and
      • you will need to complete the Capital gains tax schedule.
    • If you have capital gains from a managed fund and a separate capital gains tax event during the year, when completing the Capital gains or losses section:      
      • the capital gains amounts shown in the Managed fund distributions section will be automatically carried over for your review, and
      • you will need to ensure that all your capital gains, including those from managed funds, are included in what you show at Total current year capital gains and Net capital gain.
    • If you have capital gains from a managed fund, no other capital gains tax event during the year but have a carried forward capital loss from a prior year:      
      • myTax will prompt you to complete the Capital gains or losses section
      • the capital gains amounts shown in the Managed fund distributions section will be automatically carried over for your review, and
      • you will need to ensure that you capital gains from managed funds are included in what you show at Total current year capital gains and Net capital gain.
      Last modified: 01 Jun 2020QC 61954