Tax / Capital Gains statements

Frequently asked questions

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.

What is the attribution managed investment trust (AMIT) regime?
AMIT is a significant industry-wide reform, which introduces new concessional tax rules for managed investment trusts. Under the AMIT regime, you will be assessed on the taxable income that is attributed to you by the fund, regardless of the amount you actually receive.
What are the main differences between annual tax statements and AMMA statements?
In the past, the annual tax statement provided cash distribution amounts and you were generally taxed based on the amount of cash distribution you received from the fund. The AMMA statement provides attribution, cash distribution and cost base adjustment information. The amounts that you will be assessed on and which are required to complete your tax return are based on the attributed amounts. The components required to complete your tax return are shown in Part A of your AMMA statement. The components of the cash distributions you received and the components attributed to you are detailed in Part B of your AMMA statement.
What does AMIT cost base net amount—excess represent?
Where taxable income attributed to you is less than the cash distribution you received, the difference will decrease both the cost base and the reduced cost base of your units in the fund. The decrease in the cost base of your units in the fund should be taken into account upon disposal on the units when calculating your capital gain/loss position. The reduction of cost base of the units in the fund may give rise to a capital gain if there is insufficient cost base to absorb the reduction.
What does AMIT cost base net amount – shortfall represent?
Where taxable income attributed to you is more than cash distribution you received, the difference will increase the cost base and reduced cost base of your units in the fund. The increase in the cost base of your units in the fund should be taken into account upon disposal on the units when calculating your capital gain/loss position.
What if I sold units during the year?
If you disposed of units during the year, please be advised you will no longer receive a CGT statement and CGT guide. 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 loss you make from your disposal of any units during the year, with the capital gain information from your AMMA tax statement in completing Question 18 of your tax return.
When do I receive a management fee rebate?

You will receive a management fee rebate when the management fee applicable to your investment is lower than the management fee that has been charged to the fund. The management fee rebate will be credited to you as a reinvestment in additional units. If you have withdrawn from the fund it will be paid to you.

The amount shown in your AMMA tax statement represents only those management fee rebates that have been credited to you via a reinvestment in additional units.

For total management fee rebates credited to you please refer to the separate management fee rebate statement that has been provided to you upon the management fee rebate being credited.

We recommend you see your tax adviser to determine whether the fee rebate is assessable for your particular circumstances.

Can I use myGov?

The ATO allows you to prepare and lodge your tax return online using MyGov at www.ato.gov.au. The information provided in Part A of your annual taxation statement can be used to complete the worksheet in the Income/Managed Funds section of MyGov.

You should carefully read the instructions, as there are circumstances when this section should not be used.

What information can help me with my tax return?

The Australian Taxation Office (ATO) has a helpline for personal tax enquiries, which is 13 28 61. In addition, the ATO has a number of publications which will help you to understand your obligations and complete your return:

These publications are available from www.ato.gov.au or by calling the ATO on 1300 720 092.