Exchange-traded funds (ETFs) are a popular way to diversify cost-effectively. However, unlike regular dividends, ETF distributions come with extra tax reporting requirements — including cost base adjustments that are essential for accurate and compliant reporting.
At the end of each financial year, your ETF provider issues a final tax statement (AMMA). This statement lists the breakdown of income and adjustments you’ll need when lodging your tax return.
Navexa provides a pro-rata tax form inside the Taxable Income Report. This allows you to input those AMMA statement values once, and have them automatically applied across all your ETF distributions for that year.
Where to Find the Form
In the top navigation bar, go to Tax Reporting > Taxable Income > Taxable Income Report.
Scroll down to the Trust Income section.
How to Use It
Find the ETF holding you want to update.
Click Enter Statement Components. This opens the pro-rata form for that ETF.
You can either:
• Enter the details manually from your AMIT statement, or
• Use the Import from File feature.
If you use Import AMIT Statement, Navexa’s AI will read your uploaded file and attempt to fill in the details for you.
Confirm the values. Review and edit any figures as needed to match your AMMA statement.
Copy and check values such as:
• Interest Income
• Franked / Unfranked Dividends
• Foreign Income
• Franking Credits
• AMIT Adjustments
• Cost Base AdjustmentsClick Save Updated Distributions.
Once saved, these values will auto-apply to each distribution for that ETF in your Taxable Income Report.
Notes & Best Practice
Navexa currently doesn’t visually confirm which holdings already have components entered.
If you see data in fields such as AMIT Increase/Decrease, Foreign Income, or Discounted Capital Gains, that may indicate data was previously entered.
Always cross-check against your ETF’s AMMA statement for accuracy.
Save updates promptly to ensure your report remains consistent.
We’re improving this section so it will soon show which components have already been applied.
✅ By entering your AMMA statement here, you ensure your Taxable Income Report aligns with ATO fields (e.g. 13U, 13C) for a compliant return.
Understanding the ETF Pro-Rata Form
When you upload or enter your AMMA (Attribution Managed Investment Trust Member Annual) statement, Navexa displays the Confirm Values page.
Here’s where you review and confirm each tax component for that ETF before saving.
This table mirrors how the Australian Tax Office (ATO) classifies income and capital gains for managed funds. Each column represents a distribution period, and each row matches an ATO reporting label (for example 13U, 13C, 18A).
Below is a breakdown of what each section and field means.
🏦 Trust Income
Field | What It Means | ATO Label |
Share of non-primary production income | General trust income not related to farming or primary production. | 13U |
Franked distributions from trusts | Fully or partly franked dividends passed through by the ETF. | 13C |
Share of franking credits from franked dividends | The franking credit component attached to franked distributions. | 13Q |
Share of credit for TFN amounts withheld | Credit for any tax withheld when a Tax File Number wasn’t supplied. | 13R |
📈 Capital Gains
Field | What It Means | ATO Label |
Capital Gains – Discounted Method | Capital gains eligible for the 50 % CGT discount (for assets held > 12 months). | 18A |
Capital Gains – Other Method | Capital gains not eligible for the 50 % discount (short-term or ineligible assets). | 18A |
CGT Concession (AMIT CGT gross-up) | Reflects the grossed-up amount before applying the CGT discount. | 18H |
Total Current Year Capital Gain | Combined amount of all capital gains for the period. | 18H |
🌏 Foreign Income
Field | What It Means | ATO Label |
Assessable foreign source income | Income from overseas investments held within the ETF. | 20E |
Other net foreign source income | Other foreign-sourced income components. | 20M |
Foreign income tax offset | Foreign tax credits that may offset Australian tax payable. | 20O |
🧾 Other Adjustments
Field | What It Means | ATO Label |
AMIT Decrease (AMIT Excess) | Reduces your cost base. Occurs when you’ve received more income than you were entitled to — effectively an over-distribution. | 13C |
AMIT Increase (AMIT Shortfall) | Increases your cost base. Happens when you were entitled to more income than you actually received — an under-distribution. | 13U |
Tax Deferred | Amounts not immediately assessable but that adjust your cost base. | — |
Non Assessable | Amounts not subject to tax and that don’t adjust the cost base. | — |
Interest | Interest earned by the ETF not included elsewhere. | — |
⚙️ How AMIT Adjustments Work
The AMIT Increase (Shortfall) and AMIT Decrease (Excess) fields are the most commonly misunderstood.
AMIT Increase (Shortfall) → adds to your cost base.
This means the ETF owed you more income than it paid. Increasing your cost base ensures you won’t pay Capital Gains Tax (CGT) twice.AMIT Decrease (Excess) → reduces your cost base.
This means the ETF paid you more income than it owed. Reducing your cost base prevents under-reporting future capital gains.
Each ETF provider may label these differently — for example:
“AMIT Adjustment – Decrease”, “AMIT Excess”, or “Cost Base Reduction” all refer to a Decrease.
“AMIT Increase”, “Shortfall”, or “Cost Base Increase” all refer to an Increase.
Always match by meaning, not exact wording.
⚠️ Note for AMIT Statements
If you’re entering data from an AMIT statement (for example, Vanguard, BetaShares, or Magellan ETFs), leave the Non-Assessable field blank.
Those statements already include cost-base adjustments under AMIT Decrease (Excess) or AMIT Increase (Shortfall) — entering both will double-count the value and change your net dividend.
We will soon update the form to disable this field for AMIT holdings.
✅ Confirm and Save
Once you’ve confirmed that every value aligns with your AMMA statement, click Save Updated Distributions.
Navexa will then apply these components across all distributions for that ETF in your Taxable Income Report — keeping your portfolio aligned with ATO reporting fields for a compliant return.