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Basis of standard distribution statement

Last updated 31 May 2011

The standard format does not purport to deal with all possible scenarios that a fund manager may encounter. Where the funds' circumstances are outside those shown in the standard format, additional information or requirements need to be considered. For example, indexed capital gains may need to be included.

Fund managers may delete lines that are not relevant to their particular circumstances. For example, if there is no foreign income, the lines for foreign income may be deleted. Also, if there are no capital gain or tax-deferred payments, part B may be deleted, but we recommend that the fund manager includes a note advising that part B is not shown as it is not applicable.

The format is based on the standard information needs of a resident individual unit holder in a unit trust operated by the funds management industry. The circumstances are relevant to those unit holders who hold units on capital account and where distributions labelled as 'non-assessable amounts' are not capital gains or ordinary income of the unit holder. The unit holder is assumed to be a resident for the whole of the year of income.

Fund managers should apply relevant provisions of the income tax law in preparing the taxation information in the distribution statement, in particular Division 6 of Part III of the ITAA 1936.


The Government has announced that it will make interim amendments to the taxation of trusts to enable tax effective streaming of franked distributions and capital gains to beneficiaries. The amendments will apply to the 2010-11 income year. Fund managers will need to go to for more information.

Fund mangers may also wish to refer investors to the website for more information.

End of attention

Trustees should carefully consider the specific facts and circumstances (including any specific legislative regime) applying to the trust, especially in determining the nature of distribution components, such as the characterisation of gains on assets advised to unit holders.

The 2011 standard distribution statement is current as at 2 June 2011 and we issue it at this time to allow fund managers to implement the necessary system changes before 30 June 2011 for 2011 income year reporting. If subsequent changes are necessary we will discuss these with industry bodies.