Use this article when a trust distribution appears incorrectly, is missing from the expected financial year, or doesn’t show the Enter AMIT Statement option.
When To Use This
Follow these steps when:
A distribution appears under Non-Trust Income in the Taxable Income report.
A distribution is missing from the expected financial year in the holding’s Income tab.
An ETF or managed fund is missing from Trust Income in the Taxable Income report.
Enter AMIT Statement or Update AMIT Statement isn’t available.
A distribution previously appeared correctly but now looks different.
AMIT means Attribution Managed Investment Trust. An AMMA statement contains the final annual tax components attributed to an investor.
Check The Distribution
Start by checking the individual distribution.
Open Portfolio.
Select the ETF, managed fund, trust or custom investment.
Open Income.
Find the relevant dividend or distribution.
Select the ⋮ menu.
Select Edit.
Confirm whether Trust Income should be Yes.
Make sure Exclude From Tax isn’t selected unless you intentionally excluded the distribution.
Select Save Changes.
Only use Trust Income: Yes for a trust distribution, such as income from an Australian ETF, managed fund or trust. Standard company dividends should generally remain Trust Income: No.
A holding can have Trust Income: Yes while an individual distribution remains set to No. The distribution may then appear under Non-Trust Income.
For qualifying early-July trust distributions, it may also appear in a different financial year and prevent the AMIT statement option from appearing for the expected year.
Check Transaction History
The transaction’s History shows whether the distribution was previously changed.
Open Transactions from the left-hand menu.
Search for the ETF, managed fund or trust.
Set the date range to All time if you can’t find the distribution.
Select the relevant dividend or distribution.
Open History.
Review when the transaction changed, who changed it and which fields were updated.
If Trust Income was changed from Yes to No, edit the distribution and restore the correct setting.
Use History to audit the individual distribution. Check the holding’s current settings separately.
Check The Holding
The holding also has settings that can affect trust and tax reporting.
Open Portfolio.
Select the holding.
Open Settings.
Check whether Trust Income should be Yes.
Make sure Exclude From Tax is set to No unless you intentionally excluded the holding.
Select Save settings.
Checking the holding setting is particularly important for custom investments. When troubleshooting a listed ETF or managed fund, check both the holding and individual distribution settings.
Review The Income Tab
The holding’s Income tab shows its recorded distributions grouped by financial year.
Open Portfolio.
Select the holding.
Open Income.
Expand the expected financial year.
Confirm that the distribution appears in that year.
If you can’t find it, open Transactions, set the date range to All time, and search for the holding.
Review Taxable Income
The Taxable Income report shows whether the holding is being treated as trust income for the selected financial year.
Open Tax Reporting.
Select Taxable Income.
Choose the financial year shown on the annual tax statement.
Scroll to Trust Income.
Find the relevant ETF, managed fund or trust.
When Navexa detects relevant trust income for that financial year, Enter AMIT Statement or Update AMIT Statement should appear.
If it remains missing, confirm that:
The correct financial year is selected.
The relevant distribution exists and has been confirmed.
The distribution has the correct Trust Income setting.
The holding has the correct Trust Income setting.
Neither the holding nor distribution has been excluded from tax.
Remember, this is general information, not personal financial advice.