Step 1. Calculate trust components
The trustee calculates the trust component of each income and tax offset character, including:
- deductions
- unders and overs
- rounding adjustments
- cross character allocations
- carry-forward trust component deficits.
Step 2. Record determined trust components
The trustee records the trust component of each income and tax offset character in a document.
Step 3. Determine member component
The trustee calculates the amount of the determined trust component to be attributed to each member.
Step 4. Record determined member components
The trustee issues an AMMA statement to members, recording the amounts of particular income and tax offset characters that have been attributed to them.