Introduction
The 2010 standard distribution statement is the format recommended by the ATO and the Investment and Financial Services Association (IFSA) for disclosure by managed funds of tax information to resident individuals for completion of the 2010 tax returns, relevant schedules and other requirements.
The 2010 standard distribution statement that appears below shows amounts as examples to which we will refer to in the guidance notes that follow it.
Abbreviations
AIIR |
annual investment income report |
CGT |
capital gains tax |
IFSA |
Investment and Financial Services Association |
ITAA 1936 |
Income Tax Assessment Act 1936 |
ITAA 1997 |
Income Tax Assessment Act 1997 |
TFN |
tax file number |
Purpose
These notes are designed to help those preparing fund manager distribution statements understand the basis on which the 2010 standard distribution statement format has been determined, and the rationale behind the various items disclosed on the statement.