Tax and EOFY toolkit


A range of resources to support you

Elections

Tax elections for the 2017/2018 tax reports are now closed.

What are tax elections?

Online tax elections let you customise each of your clients' tax reports to suit their individual needs. Learn more about the tax election process and tax report release in our tax elections flyer.

Learn more
Learn more

Current tax elections

Unless you make elections for this tax reporting year, our default elections will apply. You can read about our default elections and other key information in our tax elections flyer.

Making elections for your clients

From adviser view:

  • for capital gains elections follow the path: Administration > Investment > Enter or maintain a CGT cost base method

Some more information on complex security holders and non-residents

While we do our best to distribute client Tax Reports as soon as possible, there are certain securities that can delay the process. If any of your clients hold one or more of the following securities, they can expect to receive their Tax Report between October and December:

  • listed trusts
  • international property trusts
  • hedge funds
  • geared investments
  • instalment warrants.

Clients listed as non-residents for tax purposes are also expected to receive their Tax Report between October and December. We will advise you of any changes to this timeframe.

Non-residents and complex securities holders listed above may need to lodge their tax return through a tax agent to avoid any penalties that may apply if they do not lodge their return with the Australian Tax Office before 30 October 2018.

Explore our resources

Waiting on product issuers for more information.

  • Westpac
  • Macquarie Bank Limited
  • Citi
  • RBS
  • UBS

In an effort to help you manage your client expectations around the availability of their Tax Reports, we have reached-out to Fund Managers and requested an indication of when they will be able to provide us their annual tax components.

The below schedule shows the dates that we expect to receive this information for each Fund. Please note that all Fund components need to be finalised and processed for an account before the Tax Report can be issued.

Once issued, you can view your client’s Tax Reports via the adviser website

Status Key:

  • Outstanding – Fund Tax Reports have not yet been received by the Platform. If the information is not provided by the Expected Date, we will follow-up with them regularly. If we are informed by the Fund Manager of any material changes to the Expected Date, we will notify you via email and the Investment Menu News page.
  • Received – Fund Tax Reports are being processed at a Platform level, and are being reconciled to individual accounts (On average, this process will take around 2 weeks)
  • Audit – To provide assurance around the accuracy of your Tax Report, KPMG conduct an independent audit to ensure they remain consistent with the Assumptions and Principle outlined in the Tax Guide and that the information reported are consistent with the information from our source systems (On average, this process will take around 1 week).
  • Finalised – All the Tax Components for this Fund have been finalised (On average, this process will take around 1 week).

Product issuer schedule

This provides investors with the distribution components for managed investments available on investment menus. The information provided will assist investors with undertaking their own withholding obligations on behalf of their direct non-resident beneficiaries/investors.

12H tax distribution schedule - coming soon

Most tax reports will be available by the end of September. However, certain assets can cause delays in finalising some tax reports.

Here’s a list of these external assets which we expect will be delayed this year.

SecuritySecurity nameReason for delay
LLC LendLease Group Expected timing of tax statement
APA APA Grp Expected timing of tax statement
GTY Gateway Lifestyle Group Expected timing of tax statement
AOG Aveo Group Expected timing of tax statement
ADV0047AU Advance Intl Sharemarket Fund - Wsale Expected timing of tax statement
ADV0096AU Advance Aust Sm Co Multi-Blend Fund Expected timing of tax statement
ADV0067AU Advance International FI Multi Blend Expected timing of tax statement
FXJ Fairfax Media Limited FXJ Corporate Action
APW AIMS Property Securities Fund Expected timing of tax statement

 

We'll keep you informed of the 2018 tax report releases by emailing you and confirming which of your client’s reports are available.

A specific form may be required if your client:

  • invests in US securities but is not a US citizen or US resident for tax purposes, most likely the Declaration of Foreign Residency (W-8BEN or W-8BEN-E form)
  • invests in securities listed or dual-listed in other nations, like Canada or Ireland
  • pays income tax in another jurisdiction, like the W9 form for US tax payers

Please note

For individual investors, only one W-8BEN form is required per individual, regardless of how many dual-listed securities are held. Where there are multiple beneficiaries, such as a joint account, a form must be completed for each beneficiary.

For entity investors, only one W-8BEN-E form is required per entity, regardless of how many dual-listed securities are held. Completed forms must be submitted directly to us for processing. Please do not send these directly to the share registry as they will not be accepted.

View more information on these forms below.

General information on W-8BEN forms > 

Please have your client complete the applicable Declaration of Foreign Residency form below.

IndividualEntity
W-8BEN form W-8BEN-E form

 

Documents to help you complete the correct fields:

If your client is invested in JAMES HARDIE INDUSTRIES PLC (JHX) – Irish DWT securities, please have them use this special form.

The following securities require a W-8BEN or W-8BEN-E form:

  • News Corporation (NWS)
  • RESMED (RMD)
  • Vanguard All-World Ex-US Shares Index ETF (VEU)
  • Vanguard US Total Market Shares Index ETF (VTS)
  • VanEck Vectors Gold Miners (GDX)
  • VanEck Vectors Morningstar Wide Moat (MOAT)
  • VanEck Vectors ChinaAMC CSI 300 (CETF)

Self managed super fund (SMSF) auditors are required to conduct both a financial and compliance audit, and subsequently express an opinion that the SMSF has:

  • made no material errors in financial statements
  • complied with the Superannuation Industry (Supervision) (SIS) Act and regulations.

To assist you and SMSF auditors in this process, the reports below highlight the effectiveness of our internal controls and ensure the information provided in investor statements contains no material errors.

Provided by the auditor to the Board of Directors of Macquarie Investment Management Limited on internal controls and other relevant accounting procedures as they relate to the specified annual investor statements for the year ended 30 June 2018.

Provided by the auditor to the Board of Directors of Macquarie Investment Management Limited on the specified annual investor statements for the year ended 30 June 2018.

Review issued by KPMG after completion of all reports.

 

Report on Internal Controls over Custody, Investment Administration, Superannuation Administration and Information Technology. This includes an independent assurance report conducted by the auditor on the description of controls, their design and operating effectiveness for the year ended 30 June 2017.

Access to this report is only available to advisers via the secure wrap adviser portal under the resources section of this site. If you do not have access to this portal, please contact your adviser.

These reports may also apply to other account structures held through our platform and are not individually prepared for each SMSF client. We therefore recommend that you review the information provided, and assess whether it provides sufficient evidence regarding internal controls and material accuracy of the annual investor statements in order to meet your specific auditor responsibilities.   

Specific documentation from the SMSF's trustee will be required when carrying out your audit obligations in respect to assets that are either held outside your account. To assist you in determining the extent to which these reports may be relied upon, please refer to the Government's Auditing and Assurance Standards Board website and the Guidance Statement GS009 Auditing Self-Managed Superannuation Funds.