Guide to your AMMA tax statement - 30 June 2019
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Guide to your AMMA tax statement 30 June 2019
About this guide Assumptions
This guide aims to assist individual taxpayers in completing In preparing this guide, we have assumed that:
their tax return for the 2018/19 financial year. It contains • you are an individual taxpayer
basic information of a very general nature about the • you are an Australian resident for income tax purposes
treatment of your income distributions as shown in your • you use this guide in conjunction with the Australian
attribution managed investment trust (AMIT) member annual Taxation Office’s 2019 Individual Tax Return instructions
(AMMA) tax statement. to complete your tax return
• you hold your units for the purposes of investment and
! Note: This guide is not a substitute for tax advice. It that the Australian CGT rules apply to you.
has been prepared based on a set of assumptions which
may not be applicable to you. If you are in any doubt about Completing your tax returns
your personal tax position we recommend that you seek
professional tax advice. The following information relates to your investment in
the Vanguard® Investor Funds. If you had income from any
other investments during the year, you will need to combine
the information from your other investments with the
information provided by Vanguard when completing your tax
return. For tax return references refer to the Tax return for
individuals (supplementary section) (NAT 2679-06.2019).
2 Guide to your AMMA tax statementFrequently asked questions What other information can help me with my tax return?
Included in the guide pack is the unitholder notice titled
What is the attribution managed investment trust (AMIT) ‘AMMA Tax Statement glossary’ which provides you with
regime? a high level definition of most components on the AMMA
AMIT is a significant industry-wide reform, which introduces tax statement.
new concessional tax rules for managed investment trusts.
Under the AMIT regime, you will be assessed on the taxable The Australian Taxation Office (ATO) has a helpline for
income that is attributed to you by the fund, regardless of the personal tax enquiries, which is 13 28 61. The ATO also has
amount you actually receive. a number of publications which will help you to understand
your obligations and complete your return:
What are the main differences between annual tax
statements and AMMA tax statements? • Individual tax return instructions 2019 - (NAT 71050-06.2019)
In the past, the annual tax statement provided cash • Individual tax return instructions supplement 2019
distribution amounts and you were generally taxed based • You and your shares 2019 - (NAT 2632-6.2019)
on the amount of cash distribution you received from the • Guide to foreign income tax offset rules 2019
fund. The AMMA tax statement provides attribution, cash • Personal investors guide to capital gains tax 2019 - (NAT
distribution and cost base adjustment information. The 4152)
amounts that you will be assessed on and which are required
to complete your tax return are based on the attributed These publications are available from www.ato.gov.au or by
amounts. The components required to complete your tax calling the ATO on 1300 720 092.
return are shown in Part A of your AMMA tax statement. The
components of the cash distributions you received and the When do I receive a management fee rebate?
components attributed to you are detailed in Part B of your You will receive a management fee rebate when the
AMMA tax statement. management fee applicable to your investment is lower than
the management fee that has been charged to the fund.
What does AMIT cost base net amount—excess The management fee rebate will be credited to you as a
represent? reinvestment in additional units. If you have withdrawn from
Where taxable income attributed to you is less than the the fund it will be paid to you.
cash distribution you received, the difference will decrease
both the cost base and the reduced cost base of your units The amount shown in your AMMA tax statement represents
in the fund. The decrease in the cost base of your units in only those management fee rebates that have been credited
the fund should be taken into account upon disposal of the to you via a reinvestment in additional units.
units when calculating your capital gain/loss position. The
reduction of cost base of the units in the fund may give rise For total management fee rebates credited to you please
to a capital gain if there is insufficient cost base to absorb refer to the separate management fee rebate statement that
the reduction. has been provided to you upon the management fee rebate
being credited.
What does AMIT cost base net amount – shortfall
represent? We recommend you see your tax adviser to determine
Where taxable income attributed to you is more than cash whether this amount is assessable.
distribution you received, the difference will increase the
Can I use MyGov?
cost base and reduced cost base of your units in the fund.
The ATO allows you to prepare and lodge your tax return
The increase in the cost base of your units in the fund should
online using MyGov at www.ato.gov.au. The information
be taken into account upon disposal of the units when
provided in Part A of your annual taxation statement can be
calculating your capital gain/loss position.
used to complete the worksheet in the Income/Managed
Funds section of MyGov.
You should carefully read the instructions, as there are
circumstances when the Managed Fund section should not
be used.
What if I’m not an individual taxpayer?
The information provided in this guide assumes you are
an Australian resident individual taxpayer. If your investments
in the Vanguard funds are made through a trust, company
or superannuation fund, you may need assistance from your
accountant or tax adviser in the completion of your tax return.
3Australian income franking credits from franked dividends at label 13Q, share of
credit for TFN amounts withheld at label 13R, share of credit
The Australian sourced income shown in Part A of your for tax paid by trustee at label 13S and management fee
AMMA tax statement relates to the tax return form as rebate at label 24V.
follows:
There are circumstances in which your ability to claim a
Share of net income from trusts, less net capital gains, franking credit may be reduced. For further details please refer
foreign income and franked distributions at label 13U, other to the ATO publication “You and your shares 2019” (NAT 2632-
deductions relating to non-primary production income at label 6.2019).
13Y, franked distributions from trusts at label 13C, share of
Example 1: Australian Income
Part A - Summary of 2019 Individual Tax Return (supplementary section) items. The following tax return items are valid
for Australian Resident Individual UnitholdersTax
only.return for individuals
(supplementary section)
1 July 2018 to 30 June 2019
2019
Amount Tax Return Label
Use Individual tax return instructions supplement 2019 to fill in this tax return. Please print neatly in BLOCK LETTERS
Non-primary production income
with a black or blue ballpoint pen only. Do not use correction fluid or tape. Print one letter $9,782,165.31
or number in each box. 13U
Print X in appropriate boxes. Complete your details carefully to avoid delays in processing your tax return.
Other deductions relating to distributions $0.00 13Y
See the Privacy note in the
Franked distributions
Your tax file number (TFN) $2,571,555.11
Taxpayer’s declaration on page 10 13C
of your Tax return for individuals 2019.
Franking credits $1,200,596.47 13Q
Your name Title – for example,
Mr, Mrs, Ms, Miss
Credit for TFN Print
amounts withheld
your full name.
Surname or $0.00 13R
family name
Credits for tax paid by trustee Given names
$0.00 13S
Management fee rebates $0.00 24V
Income
13 Partnerships and trusts Include any deferred non-commercial business losses from a prior year at X or Y
as appropriate and insert the relevant code in the TYPE box.
Primary production
Distribution from partnerships N .00
,
Share of net income from trusts L .00
,
Landcare operations and deduction for
I .00
decline in value of water facility, fencing asset ,
and fodder storage asset
TYPE
Other deductions relating to
X .00
amounts shown at N and L , LOSS
Net primary production amount .00
Non-primary production , ,
Distribution from partnerships,
O .00 Show amounts of:
less foreign income ,
n capital gains from trusts at item 18 and
Share of net income from trusts, less capital
U .00 n foreign income at item 19 or 20.
gains, foreign income and franked distributions ,
Franked distributions
C .00
from trusts ,
Landcare operations expenses J .00
, TYPE
Other deductions relating to
Y .00
amounts shown at O , U and C , LOSS
Net non-primary production amount .00
, ,
Partnership share of net small business income
D .00
less deductions attributable to that share ,
Trust share of net small business income
E .00
less deductions attributable to that share ,
Share of credits from income and tax offsets
Share of credit for tax withheld where .
P ,
26790619
Australian business number not quoted
Share of franking credit .
from franked dividends Q ,
21 Rent Gross rent P ,
.00
Share of credit for tax file number amounts .
withheld from interest, dividends R ,
Interest deductions
and unit trust distributions Q ,
.00 P less (Q + F + U)
Credit for TFN amounts withheld from ..00
payments Capital
from works
closelydeductions
held trusts M
F ,, LOSS
Share of credit for tax
Other paiddeductions
rental by trustee US ..00 Net .00
,, rent , ,
Share of credit for foreign resident withholding . Show amounts of:
22 Bonuses from amountslife(excluding
insurance capital gains) A and friendly
companies , societies W
n credit for, foreign resident .00
, capital gains
Share of National rental . withholding from trusts at item 18.
affordability scheme tax offset B , .00
23 Forestry managed investment scheme income A , ,
NAT 2679-06.2019
24 Other income Sensitive (when completed) Page 13
.00
Category 1 Y , ,
Category 2
(ATO interest) X , ,
.00
Type of
income Category 3
(FHSS) R , ,
.00
Category 4 V , ,
.00
Tax withheld – lump sum
payments in arrears E ,
.00
Taxable professional income Z .00
,
Tax withheld – assessable FHSS released amount S .00
Guide to your AMMA tax statement ,
4
LOSS
TOTAL SUPPLEMENT For the amounts in the right-hand column .00
at items 13 to 24 add up all the income
$ , ,
INCOME OR LOSS
amounts and deduct any loss amounts.
Transfer this amount to I on page 3 of your tax return.Foreign income
The foreign sourced income shown in Part A of your AMMA
tax statement relates to the tax return form as follows:
assessable foreign source income at label 20E, Australian
franking credits from a New Zealand company at label
20F, other net foreign source income at label 20M, foreign
income tax offsets at label 20O.
There are circumstances in which your ability to claim a
foreign income tax offset may be reduced. For further details
please refer to the ATO publication “Guide to foreign income
14 2019”
tax offset rules Personal
. services income (PSI)
To complete this item, you need to read and complete the Business and professional items schedule for individuals 2019.
You cannot lodge a paper return. You must lodge your tax return using myTax or a registered tax agent.
15 Net income or loss from business
To complete this item, you need to read and complete the Business and professional items schedule for individuals 2019.
You cannot lodge a paper return. You must lodge your tax return using myTax or a registered tax agent.
16 Deferred non-commercial business losses
To complete this item, you need to read and complete the Business and professional items schedule for individuals 2019.
ExampleYou2: Foreign Income
cannot lodge a paper return. You must lodge your tax return using myTax or a registered tax agent.
17 Net farm management deposits or repayments
Part A - Summary of 2019 Individual Tax Return
Deductible D
deposits (supplementary
,
.00 items. The following tax return items are valid
section)
for Australian Tax Resident Individual Unitholders
Early repayments – natural only.
N .00
disaster and drought ,
Other repayments R .00 Amount Tax Return Label
, LOSS
Assessable foreign source income Net farm management
$220,981.31
E .00 20E
deposits or repayments , ,
Australian franking credits from a New Zealand company $0.00 20F
18 Capital gains Did you have a capital gains G No Yes You must print X in the Yes box at G if you had an
Other net foreign source income tax event during the year? amount of $220,981.31
capital gains from a trust. 20M
CODE
Have you applied an
Foreign income tax offsets exemption or rollover? M No Yes $31,615.00 20O
Net capital gain A , , .00
Total current year capital gains H .00
,
Net capital losses carried
V .00
forward to later income years ,
Credit for foreign resident capital gains .
withholding amounts X ,
19 Foreign entities
Did you have either a direct or indirect
I No Yes CFC income K .00
interest in a controlled foreign company (CFC)? , ,
Have you ever, either directly or indirectly, caused
W No Yes
Transferor
B .00
the transfer of property – including money – trust income , ,
or services to a non-resident trust estate?
20 Foreign source income and foreign assets or property
Assessable foreign source income E .00
, , LOSS
Other net foreign employment income T .00
, , LOSS
Net foreign pension or annuity income WITHOUT
L .00
an undeducted purchase price , , LOSS
Net foreign pension or annuity income
D .00
WITH an undeducted purchase price , , LOSS
Net foreign rent R .00
, , LOSS
Other net foreign source income M .00
Also include at F Australian franking credits from a , ,
New Zealand franking company that you have received Australian franking credits from
F .00
indirectly through a partnership or trust. a New Zealand franking company , ,
LOSS
Net foreign employment income –
U .00
payment summary , ,
Exempt foreign employment income N ,
.00
Foreign income tax offset O .
,
During the year did you own, or have
an interest in, assets located outside Australia P No Yes
which had a total value of AUD$50,000 or more?
Page 14 Sensitive (when completed) TAX RETURN FOR INDIVIDUALS (supplementary section) 2019
5 Guide to your AMMA tax statementCapital gains Did you dispose of any units
The capital gains shown in Part A of your AMMA tax during the year?
statement relate to the tax return form as follows: total If you disposed of units during the year, please be advised
current year capital gains at label 18H and net capital gain at you will no longer receive a CGT statement and CGT guide.
label 18A. You can still calculate your current year’s capital gain or
loss position resulting from the disposal of your Vanguard
units by using information provided in your transactional
history statement and information contained in the AMMA
tax statement. You will need to combine any capital gain or
14 Personal services income (PSI)
loss you make from your disposal of any units during the
To complete this item, you need to read and complete the Business and professional items schedule for individuals 2019.
You cannot lodge a paper return. You must lodge your tax return using with
year, myTaxthe
or acapital gain
registered taxinformation
agent. from your AMMA tax
statement in completing Question 18 of your tax return.
15 Net income or loss from business
To complete this item, you need to read and complete the Business and professional items schedule for individuals 2019.
You cannot lodge a paper return. You must lodge your tax return using myTax or a registered tax agent.
Example 3: non-commercial
16 Deferred Capital Gains business losses
To complete this item, you need to read and complete the Business and professional items schedule for individuals 2019.
Part A - You cannot lodge
Summary a paper
of 2019 return. You
Individual Tax must lodge
Return your tax return using
(supplementary or a registered
myTaxitems.
section) tax agent.tax return items are valid
The following
for Australian
17 Net farmResident Individualdeposits
management Unitholders only.
or repayments
Deductible deposits D ,
.00 Amount Tax Return Label
Total current year capital
Early repayments – natural
gainsdisaster and drought N .00
$4,347,881.64 18H
,
Net capital gain Other repayments R .00
$2,173,940.82 18A
, LOSS
Net farm management
E .00
deposits or repayments , ,
18 Capital gains Did you have a capital gains
G No Yes You must print X in the Yes box at G if you had an
tax event during the year? amount of capital gains from a trust.
CODE
Have you applied an
exemption or rollover? M No Yes
Net capital gain A , , .00
Total current year capital gains H .00
,
Net capital losses carried
V .00
forward to later income years ,
Credit for foreign resident capital gains .
withholding amounts X ,
19 Foreign entities
Did you have either a direct or indirect
I No the ATO
Yes CFC income K .00
More information
interest in a controlled foreign company (CFC)?Contacting , ,
vanguard.com.au/taxation
Internet: Have Internet:No ato.gov.au
you ever, either directly or indirectly, caused Transferor .00
the transfer of property – including money – W Yes trust income B , ,
Telephone: ATO 13 28 61 or ATO publications 1300 720 092
or services to a non-resident trust estate?
20 Foreign source income and foreign assets or property
Assessable foreign source income E .00
, , LOSS
Other net foreign employment income T .00
, , LOSS
Net foreign pension or annuity income WITHOUT
L .00
an undeducted purchase price , , LOSS
Net foreign pension or annuity income
D .00
WITH an undeducted purchase price , , LOSS
Net foreign rent R .00
, , LOSS
™ Other net foreign source income M .00
Connect
Alsowith
includeVanguard
at F Australian franking credits from a , ,
New Zealand franking company
vanguard.com.au/taxation > 1300that you
655have received
101 Australian franking credits from
F .00
indirectly through a partnership or trust. a New Zealand franking company , ,
LOSS
Net foreign employment income –
U .00
payment summary , ,
Exempt foreign employment income N ,
.00
Vanguard Investments Australia Ltd (ABN 72 072 881 086 /AFS Licence 227263) is the product issuer. . We have not taken your circumstances into account when preparing this
publication so it may not be applicable Foreign income tax offset
to your circumstances. O consider your, circumstances
You should and our Product Disclosure Statements (PDSs) before making any investment
decision. You can access During
our PDSstheatyear
www.vanguard.com.au
did you own, or haveor by calling 1300 655 101. Past performance is not an indication of future performance. Taxation considerations
an interest
are based on current in, assets
laws and located outside
their interpretation at 30Australia
June 2018.P This
NopublicationYes
was prepared in good faith and we accept no liability for any errors or omissions. The
which
extracts of the had a Taxation
Australian total value of AUD$50,000
Office’s or more?
Individual income tax return (supplementary section) included in this publication is copyright of the Commonwealth of Australia and
is reproduced by permission. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from
the Commonwealth PageCopyright.
14 Administration, Attorney-General’s Department.
Sensitive Requests
(whenand inquiries concerning reproduction
completed) TAX RETURNandFOR rights should(supplementary
INDIVIDUALS be directed section)
to Commonwealth
2019
Copyright Administration, Copyright Law Branch, Attorney-General’s Department, Robert Garran Offices, National Circuit, BARTON ACT 2600.
© 2019 Vanguard Investments Australia Ltd.
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