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Basic structure

Last updated 25 May 2022

The basic structure consists of three parts.

A trustee of a multi-class AMIT may make a choice under section 276-20 of the ITAA 1997 to treat each class as a separate AMIT for the purposes of Division 276 (multi-class election). Where a multi-class election has been made, the trustee must give an AMMA statement to the investor advising of their member components arising from the attribution of the trust components related to each class, and the name of the AMIT class should be identified preceding part A or in the accompanying letter.

Part A provides information about the details that the trust holds about the investor. It provides a prompt for investors to update their details if they are incorrect.

Part B explains where amounts that are attributed or distributed are taken into account in completing the Tax return for individuals (supplementary section) 2022 for resident individual investors. Contact if there are other items that should be included.

For resident individual investors with straightforward circumstances, the information in part B should be sufficient to complete their tax return.

Part C explains the components for an attribution (AMMA statement) or a distribution (SDS). Two part Cs are provided as requirements for an AMMA statement differ from those of a SDS. The table format is optional.

The numbers inserted by way of example in part C may not always seem to reconcile. Where this happens, the guidance notes provide an explanation for the variation. If this arises in an AMMA statement or SDS prepared for an investor, the trustee may insert a note to explain the variation to avoid unnecessary enquiries from investors.

Some trustees provide a consolidated statement for investors. Where a trustee provides a consolidated statement, the trustee must also provide a separate statement for each trust listed in the consolidated statement that aligns with what is reported in the AIIR. For example, where there are three AIIRs for three trusts, there will be three statements included in the consolidated statement showing the components of the distribution or amounts that are attributed for each trust.