Crystal Wealth Newsroom

Managed funds and tax reports timing


When you invest in a managed fund, you are actually buying units in the fund, which then puts your hard-earned money in different investments.

The value of these units in the fund can go up or down depending on how well the underlying investments are doing.

These investments also generate income, such as interest and dividends, which either get paid to you directly or are used to buy more units.

So, even if your units go down in value, the fund still makes money during the year, and that gets paid to your portfolio.

This is the income that needs to be entered in your return.

We usually receive annual tax statements from the fund managers in August or September, and these statements show the income and all its components that you received during the year.

Managed funds invest in many underlying assets. This may include Australian or international shares, property, bonds, cash, or other types of assets.

Fund managers must wait until they have all of the relevant end-of-financial-year information from each underlying asset before the unit prices and attributions,  or distributions, of the managed fund can be finalised.

Any delay the fund manager experiences in receiving the information they need results in a delay to calculating unit prices, attribution, and distributions. The fund manager can only work as quickly as the slowest underlying asset.

Therefore please be ensured that we are trying to expedite the production of your tax reports and will get these to you as soon as practicable.

Generally, we can email your tax reports from late September.

If you have a self-managed super fund where we prepare financial statements and tax returns as well, please add additional three months to allow for compilation and independent auditor clearance.

If you have any questions on year-end processes, please do not hesitate to contact your CWP Adviser.

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