Use this article to understand why Navexa may need an annual AMMA statement for an ETF, managed fund or trust.
AMIT And AMMA Explained
An AMIT is not a type of investment. It is a tax framework that an eligible managed investment trust can choose to use.
AMIT stands for Attribution Managed Investment Trust.
The AMIT framework can apply to different types of investments. Real-world examples include:
An ETF such as Vanguard International Shares Index ETF (ASX: VGS).
A managed fund such as Vanguard Growth Index Fund (VAN0110AU).
A listed property trust such as Charter Hall Social Infrastructure REIT (ASX: CQE).
Not every ETF, managed fund or trust uses the AMIT framework. Check the provider’s final annual tax statement for the relevant financial year.
The trustee of an AMIT issues each investor an AMMA statement.
AMMA stands for Attribution Managed Investment Trust Member Annual statement.
The AMMA statement shows the income, tax offsets and other tax components attributed to you for the financial year.
Why You Receive A Statement
An AMMA statement provides the final annual tax breakdown for your investment.
Depending on the investment, it may include:
Trust income
Franked income and franking credits
Foreign income and foreign tax offsets
Capital gains attributed by the fund
AMIT cost-base adjustments
Other tax return labels
The amounts attributed to you for tax purposes may differ from the cash distributions you received.
Use the provider’s final statement as the source for the annual tax components. Don’t remove valid components simply to make the taxable total match the cash received.
Other Statement Names
Providers don’t always use the same name for these documents.
Your AMMA statement may also be described as an:
Annual tax statement
ETF tax statement
Member statement
Year-end tax statement
A non-AMIT investment trust may issue a Standard Distribution Statement instead of an AMMA statement.
Where To Find It
Navexa does not create or retrieve the provider’s annual tax statement.
Your statement may be available through:
The ETF or fund provider’s investor portal
Your broker’s tax-document area
The investment’s unit registry
An email from the provider or registry
Your investment platform’s annual reporting area
Use the final annual statement rather than an estimated distribution notice.
Contact the provider, broker or registry if you cannot find the statement. Don’t estimate or invent missing values in Navexa.
Why Distributions Already Appear
Your cash distributions may already appear in Navexa before the annual statement becomes available.
These records represent distributions that were paid or reinvested during the year. They may have been generated automatically, imported or entered manually.
The AMMA statement serves a different purpose. It provides the final tax breakdown attributed to those distributions after the fund completes its annual tax calculations.
Entering the statement updates the tax components used by Navexa. You should not add the same cash distributions again.
When To Enter It
Enter the statement after receiving the provider’s final annual tax statement for the relevant financial year.
Before entering it, check that:
You have selected the correct holding.
You have selected the financial year shown on the statement.
The holding’s distributions for that year exist in Navexa.
You are using the final statement rather than an estimate.
You have not already entered the same annual values another way.
Use one entry method for each holding and financial year. Enter the values manually or import the PDF, but don’t also add the same values to each distribution.
Understand AMIT Statuses
Navexa displays AMIT statuses beside relevant holdings in the Taxable Income report.
AMIT Required
AMIT Required means the holding may need annual statement data for the selected financial year.
Check whether the provider issued an AMMA or other final annual tax statement.
This status does not confirm that every field requires a value.
AMIT Complete
AMIT Complete means statement data has been entered and saved for that holding and financial year.
You can still select Update AMIT Statement to review or change the saved data.
AMIT Not Required
AMIT Not Required means the holding has been marked as not requiring AMIT statement data for that financial year.
You can still enter a statement later if you receive one or determine that the data is required.
Remember, this is general information, not personal financial advice.