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  • How the attribution method works

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    The steps below show how the attribution method works for MITs.

    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.

      Last modified: 22 Feb 2023QC 47436