From the 2014-15 Financial Year onwards Class provides Tax Statement Templates for the most widely held stapled securities, listed trusts and managed funds.
As a general rule, "widely held" means that there are at least 100+ portfolios on Class holding a particular stapled security, listed trust or managed fund.
- Class relies on the cooperation of the data providers and Class Users to provide tax statement templates.
- Class prioritizes the tax statement templates based on information availability and how widely held these securities are within our client base.
- Class users are encouraged to follow the Tax Statement Templates Request process when sending copies of tax statements. This will provide evidence for the team to work on and verify the ratios of the tax components and subsequently produce the templates.
- The Tax Statement tool is designed to assist Class users to generate Distribution Tax Statements for managed funds/listed trusts in bulk. It is not intended to substitute for the actual tax statements received from the managed fund/share registries.
- Whilst every effort has been given to ensure the processing tool is as accurate and relevant as possible, it should be considered as a general productivity tool to assist users processing on Class software more efficiently.
- You should take necessary steps to ensure you can rely on the tax statements generated by this tool, conducting your own verification and where applicable changing tax components generated to agree with the actual tax statement received.
- The generation of bulk tax statements works best if there has been no variation in a quantity held during the relevant financial year. You should pay special attention when checking the generated tax statement against the actual statement received when there is a change in the number of units.
- Some tax statements generated may be subject to rounding discrepancies, as the data Class received from the provider/trustee may only round to 2-6 decimals, where the actual tax statements may cater for more. This may lead to slight rounding errors, which would require adjusting where necessary.
- Ensure all the buy/sell transactions for the underlying securities are processed and up-to-date before loading tax statements.
- This tool is based on the distribution cash/reinvestment events processed in Class. It is important that all the distribution income events are up to date, ideally matched with the cash received.
What if the tax statement templates do not cover the listed trusts/stapled securities/managed funds I am after?
Send Tax Statement Template Request through to Support provided that:
- The investment has been held through the whole financial year with no change in quantity during the financial year.
- At least two separate tax statements from two different funds for a given security. These will be used for cross-checking purposes.
- You have more than 5 funds that you need to enter tax statements for.
The normal turnaround on tax statement will be 10 business days.
Tax Statement Template Release Schedule
The links below contain lists of widely held stapled securities, listed trusts or managed funds Class aims to provide the tax components ratio for: