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Reporting Funds

The reporting funds section lists all of the reporting fund assets you have in the system. It allows you to input the excess reportable income (ERI) for each of these funds. All reporting funds must report ERI, regardless of if they are distributing or not (though sometimes it is 0).

The system attempts to validate the data for each reporting fund and displays the status, with a valid status indicating that data in the system cover the full period of the ownership of the fund, with no gaps, except for the last 12 months. The system allows missing data in the last 12 months as most reporting funds report every 12 months (and that is the maximum length of period that can be reported) so at any given time there is up to a 12 month period where the data is not known. Note that ERI does impact disposals from the reporting period end date so it is possible that this delay means you are missing information required to submit your tax return on January 31.

You can use the Add button at the bottom to input ERI with the following fields:

  • Asset: the reporting fund
  • Start Date: the start date of the reporting period
  • End Date: the end date of the reporting period
  • Distribution date: the date the distribution is treated as being made, which should be six months after the end date
  • Income type: the type of income from the fund for the reporting period, which should be reported by the fund.
  • ERI currency: the currency asset of the ERI. These are the same as the currency assets you have in the system.
  • ERI amount per unit: the amount of ERI per unit held of the reporting fund. This is the amount that the fund will report and will be used to calculate your ERI based on how many units you hold at the end of the reporting period (in combination with any anti-avoidance rules that apply).