Understanding your tax statement
Your tax statement summarises the taxable amounts attributed to you from Stake Accumulate. It includes components such as Australian income, foreign income and capital gains.
Stake Accumulate is an Attribution Managed Investment Trust (AMIT) for tax purposes. This means its tax statement is also known as an Attribution Managed Investment Trust Member Annual (AMMA) statement.
Receiving a tax statement
As an investor, you may need to pay tax on your share of the Fund’s taxable income, even if you did not receive a cash distribution.
Your tax or AMMA statement helps you report these amounts in your annual tax return with the Australian Taxation Office (ATO).
When you can expect your statements
Preparing your statements takes time because the Fund’s accounts must be audited and the statements reviewed and approved by the Fund’s Responsible Entity.
We’ll send your statements as soon as possible after the financial year ends, and usually by the end of September. They’ll be emailed to you through the Stake system. If you haven’t received yours by then, contact us and we’ll look into it.
Capital gains when transferring out
Your tax or AMMA statement does not calculate any capital gain or loss from selling your units when you transfer money out. It includes taxable amounts attributed to you by the Fund, which may include capital gains the Fund earned from selling its investments.
Selling your units is a separate capital gains tax (CGT) event. You are responsible for calculating any capital gain or loss using the sale proceeds and the cost base of your units, including any relevant cost-base adjustments.
Your Periodic Statement contains relevant transaction information, while your AMMA statement may include cost-base adjustments. You must report any capital gain or loss in your tax return for the relevant financial year.
This information is general only and does not take into account your circumstances. If you are unsure how to complete your tax return, seek advice from a registered tax adviser.
