Good to know up front (TL;DR)
AMIT = Attribution Managed Investment Trust. Your ETF/fund sends an annual AMMA statement showing tax components and any AMIT cost-base increase/decrease.
In Navexa, AMIT amounts live on the distributions (dividends) for that ETF/fund.
The Enter Statement Components (Pro-Rata) tool is a data entry helper: it splits your annual totals across the year’s distributions and fills those distribution fields for you.
Because AMIT lives on distributions, Navexa allocates it to parcels by record date (the “photo day” for who held units).
Some platforms split AMIT by units held at 30-June (EOFY) instead. Both methods use the same totals; only the parcel split differs.
This is general information only and isn’t tax advice.
1) What are AMIT and the AMMA statement?
Many Australian ETFs and managed funds are Attribution Managed Investment Trusts (AMITs).
Each year they send investors an AMMA statement (Attribution Managed Investment Trust Member Annual statement).
The AMMA shows:
Your tax components (e.g., interest, foreign income, capital gains components), and
AMIT cost-base net amounts:
AMIT Increase (Shortfall) → adds to your cost base.
AMIT Decrease (Excess) → reduces your cost base.
Why adjust the cost base?
If the fund under- or over-attributed income through the year, the AMIT rules correct that at year-end so you’re not taxed twice (or not enough). The correction doesn’t change your cash; it changes your cost base, which affects capital gains when you sell.
2) Key concepts (in everyday language)
Parcel = one buy. If you buy an ETF three times, you have three parcels. Navexa tracks the cost base for each parcel separately.
Record date / Ex-date = the fund’s “photo day.” Anyone holding units on that day is entitled to the distribution and its AMIT adjustment.
Allocation = how we share the annual AMIT amount across your parcels.
Navexa’s approach: AMIT adjustments live on each distribution. For each distribution, we look at how many units each parcel owned on that record date and share that distribution’s AMIT accordingly.
3) How Navexa applies AMIT (and what the Pro-Rata tool really does)
You have two data-entry paths. Both end up with AMIT stored on distributions:
Per-distribution entry (manual & time-consuming):
Open the ETF’s (Holdings) Income tab → pick a distribution → edit → enter AMIT Increase/Decrease for that distribution.Annual entry via Pro-Rata (recommended if you only have the AMMA totals):
Tax Reporting → Taxable Income → Enter Statement Components.
Enter your annual AMIT totals. The wizard then splits those totals across the year’s distributions and writes the numbers into each distribution for you.
Important: There isn’t a separate “annual-only” AMIT store in Navexa. The Pro-Rata tool is a convenience step that populates the distribution rows. Once saved, all AMIT amounts live on distributions and are allocated to parcels by record-date units.
4) A simple worked example (numbers are illustrative)
Imagine ETF ABC with two distributions in FY23/24: October and April.
You buy three times:
Parcel A: 80 units on 1 July
Parcel B: 40 units on 1 December
Parcel C: 80 units on 1 March
Units held on each record date:
Oct record date: only Parcel A existed → 80 units total
Apr record date: all parcels existed → 80 + 40 + 80 = 200 units total
Your AMMA shows AMIT Increase (Shortfall) for FY23/24 = $40.00.
After using Enter Statement Components, Navexa splits the $40 across the two distributions based on the fund’s data—for simplicity here, say it’s $10 (Oct) and $30 (Apr) at the holding level.
Now we allocate to parcels by record-date units:
October ($10) across 80 units (Parcel A only):
Parcel A gets $10 × 80/80 = $10.00
Parcels B & C get $0 (they didn’t exist on the Oct record date).
April ($30) across 200 units (A+B+C):
Parcel A: $30 × 80/200 = $12.00
Parcel B: $30 × 40/200 = $6.00
Parcel C: $30 × 80/200 = $12.00
Parcel totals for FY23/24 AMIT Increase:
Parcel A: $10.00 + $12.00 = $22.00
Parcel B: $0 + $6.00 = $6.00
Parcel C: $0 + $12.00 = $12.00
Sum = $40.00 (matches the AMMA total exactly).
Compare to an EOFY (30-June units) method
Some tools split the full $40 by the units held at 30-June (which is 200 units here):
Parcel A: $40 × 80/200 = $16.00
Parcel B: $40 × 40/200 = $8.00
Parcel C: $40 × 80/200 = $16.00
Notice the difference:
Under Navexa’s record-date method, Parcel A gets $22.00 because it existed for both record dates.
Under the EOFY snapshot, Parcel A gets $16.00.
The extra $6 on Parcel A is exactly offset by lower amounts on other parcels.
The total is always $40—only the parcel split changes.
If your unit count changes during the year, the record-date and EOFY methods will usually differ at the parcel level. That’s expected. It does not change your combined total.
5) Why Navexa uses the record-date approach
Entitlement accuracy: Distributions (and their AMIT corrections) belong to whoever held units on the record date.
Parcel-true: We track CGT per parcel. Record-date allocation ensures that a parcel only receives adjustments for distributions to which it actually qualified.
Fair for mid-year joiners/leavers: Buy just before EOFY? EOFY snapshots might give you a slice of the whole year; record-date won’t. Sell before EOFY? EOFY snapshots might give you nothing for the year; record-date captures the earlier entitlements.
One source of truth: Keeping tax components, DRP, and AMIT together on each distribution makes audit trails and reconciliation clear.
6) How to enter AMIT in Navexa (step-by-step)
Option A — You only have the annual totals (AMMA)
Go to Tax Reporting → Taxable Income.
Click Enter Statement Components.
Choose your ETF/fund and the financial year.
Enter the AMIT Increase (Shortfall) and/or AMIT Decrease (Excess) totals from the AMMA.
Save.
Navexa will pro-rate those totals across the year’s distributions and populate the distribution rows.
Your Unrealised CGT and parcel cost bases will then reflect record-date allocation.
Option B — You have per-distribution figures
Open the ETF holding → Income tab.
For each distribution, click Update Dividend.
Enter the AMIT Increase/Decrease amounts shown for that distribution.
Save each one.
You’re entering the same data as Option A, just manually.
Best practice: Use one method per year. The Pro-Rata tool fills the same distribution fields that manual entry would. Avoid double-entry.
7) “My number doesn’t match another platform—why?”
If the other platform uses an EOFY (30-June units) split, parcel-level numbers will differ whenever your units changed during the year.
In Navexa, once AMIT lives on distributions (manually or via Pro-Rata), allocation is by record-date units.
The total AMIT for the year always matches your AMMA. The difference is which parcel gets which slice.
Can I force an EOFY split in Navexa?
Navexa doesn’t maintain a separate “annual-only” AMIT ledger. If you must replicate an EOFY split precisely:
Enter a custom cost-base adjustment for the parcels to match the EOFY outcome, or
Manually edit the AMIT amounts on the distributions so that, when allocated by record date, the parcel effects equal your EOFY target.
(These are advanced workarounds—speak with your tax adviser if unsure.)
8) FAQs
Q: Does the Pro-Rata tool change my dividend cash?
A: No. AMIT affects cost base, not cash received.
Q: Which fields in Navexa represent AMIT?
A: On each distribution’s Update Dividend form:
AMIT Increase (Shortfall) → raises parcel cost base.
AMIT Decrease (Excess) → lowers parcel cost base.
Q: Why do I see small rounding differences?
A: Rounding occurs at distribution and parcel levels. Expect a few cents of variation, occasionally a few dollars if holdings changed mid-year.
Q: Do DRP shares change AMIT?
A: AMIT amounts come from the fund’s statement. DRP can change unit counts before later record dates, which affects how later distributions are allocated across parcels.
9) Troubleshooting checklist
Numbers look doubled?
Make sure you haven’t both manually entered AMIT on distributions and then used Pro-Rata to fill them again. Use one method per year.Doesn’t match accountant’s EOFY number?
Confirm whether they’re using EOFY allocation. If so, expect parcel-level differences even though totals match your AMMA.A single parcel looks “off” but totals are right?
Check how many units that parcel had on each record date. That’s the slice driver in Navexa.
10) Plain-English summary
Your fund’s AMMA statement tells us how much to add to or subtract from your cost base for the year. In Navexa, we put those amounts onto the actual distributions you received. For each distribution, we look at how many units each buy (parcel) owned on the fund’s record date, then share that distribution’s AMIT across those parcels. If your unit count changed during the year, this can differ a little from methods that split by 30-June units—but the total for the year is the same. The only thing that changes is which parcel gets which slice.