Issue

SYD sends out a tax statement for FY2021 but there is no cash distribution.

Cause

In FY21, SYD didn't pay any distribution due to Covid-19, but still issue a tax statement with NPP income & AMIT cost base adjustment. The Tax Statement Console currently doesn't support this (nothing shows up for SYD & cannot manually process at the console). Hence, we cannot create an Automation template to help clients at all.

Resolution

You can process a Distribution - Tax Statement event (via Transactions > Fund Income) > then enter positive 100% Australian Interest, positive 100% AMIT cost base adjustment to increase the cost base, then negative -100% for Tax-Exempt as a balancing figure.