Tax Report – Summary (Part A) Explained - Macquarie · Tax Report – Summary (Part A) ... DF1...

Macquarie Investment Manager Tax Report – Summary (Part A) from 1 July 2009 to 30 June 2010 Account No: JS0001Account Name: John Sample

Franking Credit

Distributed ($)

Franking Credit

Denied* ($)

Tax Return

Amount($)

Individual Tax Pack Ref. No.

Trust Tax Return

Ref. No.

SMSF Tax Return

Ref. No.

Tax Report – Detailed

Ref.1

Income

Gross Interest (Income received from the Cash Management Trust (CMT) is included under Trust Distributions)

Interest received – Cash 7,817.05 C3

Interest received – Listed equities 0.00 S5

Total Gross Interest 7,817.05 10L 11J 10C

Dividends (received from equity investments)

Unfranked amount (including Conduit Foreign Income) 360.00 11S 12K 10J S3; S4

Franked amount 2,040.00 11T 12L 10K S2

Franking credit 874.29 200.00 674.29 11U 12M 10L S15; DF2

Trust Distributions (including income from the CMT)

Trust distributions less distributed net capital gains & foreign income 18,925.88 C4; T2; T3; T4;T5; T6

Share of franking credits from franked dividends 372.64 45.00 327.64 13Q 8D T18; DF1

Gross Trust Distributions 19,253.52 13U 8R 10M

Foreign Source IncomeForeign income 11,022.34 T19; S12

Foreign tax credits 44.64 20O 23Z 12C1 T27; S16

Total Assessable Foreign Source Income 11,066.98 20E & 20M 23B & 23V 10D1 & 10D

Foreign Entities

Foreign – CFC 0.00 19K 22M,U or X 10D1 & 10D T20; S13

Foreign – FIF 30.00 19C 22Y T21; S14

Other IncomeGain from disposal of convertible notes + other income (1,672.36) O3

Other income – listed securities 0.00 S6

Total Other Income (1,672.36) 24V 14O 10S

ExpensesGovernment charges - F1

Adviser fees - F2

– Establishment fees - F3

– Ongoing fees - F4

– Transaction fees - F5

Administration fees 69,868.32 F6

Net Interest paid – margin loan 7,923.74 F7

Other - T15, S17

Total Deductions 77,792.06 D7, D8 or 13Y 16P 11I

Tax DeductedTFN amounts 340.37 C5; T16; S7

Non resident amounts withheld 89.93 C6; T17; S8

1 Refer to the Tax Report – Detailed provided with this Tax Report – Summary for details at a security level.

Where we have been advised that your adviser fees are deductible, we have relied on these instructions and have not considered whether the treatment is correct.

* For Australian resident individual investors, the 45 Day Rule may not apply where franking credits received are less than or equal to $5,000.00. The investor should seek independent taxation advice with regard to their individual circumstances.

Account: JS0001

Tax Report – Summary (Part A) ExplainedThe Tax Report – Summary provides investors with a summary of the information needed to determine their taxable position in respect of their account for the year ended 30 June 2010. It provides:

consolidated tax information required to complete an investor’s ■■

tax return

references to ATO TaxPacks for individuals, trusts and self ■■

managed superannuation funds; and

references to the Tax Report – Detailed so that investors ■■

can determine how amounts disclosed in the Tax Report – Detailed are used to arrive at the amounts disclosed on the Tax Report – Summary.

The purpose of this information is to provide guidance on how to reconcile the Tax Report – Summary to the Tax Report – Detailed.

For your reference, we have disclosed here the relevant sections of the Individual Income Tax Return which individuals will be required

to complete for the year ended 30 June 2010. If the individual has no other investment income or expenses, other than what they have derived in their Wrap account, they can simply transpose the amounts disclosed on the Tax Report – Summary into their income tax return. If they have additional income or expenses that have been derived outside of their Wrap account, they will need to add these amounts to their Wrap account income or expenses prior to completing their income tax return.

This is a training document. This is not tax advice. We recommend you seek professional tax advice to determine the appropriateness and relevance of this document to the investor’s personal circumstances.For detailed information regarding tax policies and assumptions Wrap has used to prepare the Tax Reports, please refer to the Tax Guides, available from the Wrap tax area of Macquarie’s Adviser website. The website can be accessed from the Quick Links menu or the Tax Reporting 2010 button on the Wrap homepage.

The amounts disclosed here, if any, represent the franking credits denied due to the application of the 45 day rule. To reconcile each amount, where relevant, please see the Denied Franking Credit (DF) section of the Tax Report – Detailed. For more information about how the rule operates, please see the Tax Guide.

TaxPack references for individuals, trusts, and SMSFs to assist clients complete their income tax return.

References to the Tax Report – Detailed to show how the information on the Tax Report – Summary report was calculated.

Dividends an account may receive may include the following:

Dividend payments from listed shares which take the form of franked or unfranked dividends ■■ – refer to S2, S3 and S4 of the Tax Report – DetailedFranking credits attached to the dividend payment from listed shares – ■■ refer to S15, DF2 of the Tax Report – Detailed.

Notes1. This section does not include any dividend payments that have been distributed from listed trusts and/or

unlisted managed funds. These will be included under the Trust Distribution section below.

2. Any conduit foreign income received by an account will be disclosed as unfranked dividend income in the Tax Report – Summary. It is separately disclosed in the Tax Report – Detailed at S4. Broadly, conduit foreign income is foreign income which is flowed through a company but is not subject to withholding tax.

3. All amounts here are Australian income. Any foreign dividend payments will be included under the Foreign Source Income section.

4. Macquarie has applied the 45 day rule to disclose both franking credits distributed and the franking credits that may have been denied.

Tax return for Individuals 2010

Tax deducted may include the following:

TFN withholding tax – where accounts have not provided Wrap with their TFN details. The amount deducted is 46.5% of the cash paid in respect ■■

of any dividends or distributions.

To arrive at this amount, add together any amounts of TFN WHT which have been deducted from any dividends or distributions received – refer to C5, S7, T16 of the Tax Report – Detailed.

Non-resident withholding tax – where the account holder is a non-resident for tax purposes.■■

To arrive at this amount, add together any amounts of non-resident WHT which have been deducted from any dividends or distributions received – refer to C6, S8, T17 of the Tax Report – Detailed.

A reconciliation is completed at year end which compares the amounts withheld throughout the year to what should have been withheld had all income components been known at the time of the withholding on the distribution.

Gross Interest an account may receive may include the following:

Interest refunds when a margin loan has been closed out – ■■ refer to C3 of the Tax Report – Detailed Distributions from listed equities (such as convertible notes) which take the form of interest – ■■ refer to S5 of the Tax Report – Detailed

Any amount paid in respect of term deposits.■■

The amounts are arrived at by adding together all interest payments received during the year.


Trust distribution income an account may receive may include the following:

Interest – ■■ refer to C4 & T5 of the Tax Report – DetailedFranked dividends – ■■ refer to T2 of the Tax Report – Detailed Unfranked dividends – ■■ refer to T3 and T4 of the Tax Report – Detailed Australian other income – ■■ refer to T6 of the Tax Report – Detailed Franking credits – ■■ refer to T18, DF1 of the Tax Report – Detailed.

It does not include:

Capital gains■■

Foreign income■■

Foreign tax credits. ■■

Tax return for Individuals (supplementary section) 2010

Expenses listed here are arrived at by adding together all deductible expenses incurred as notified within the investor’s Wrap account and are reported separately under each category to which they relate – refer to F1, F2, F3, F4, F5, F6, F7, T15 and S17 of the Tax Report – Detailed.

For the full list of expenses please see the Fees and Expenses (F) section in the Tax Report – Detailed.

Notes1. Expenses listed here do not include any expenses incurred in association with instalment warrants.2. Establishment fees are non-deductible for tax purposes.3. Expenses incurred outside of the investor’s Wrap account have not been taken into consideration.4. Where we have relied on an adviser election for the deductibility of an adviser fee, only those elected as being

deductible are shown on the Tax Report – Summary.


Macquarie Adviser Services

Foreign source income an account may receive may include the following:

Foreign income – ■■ refer to T19, S12 of the Tax Report – Detailed Foreign income tax offset – ■■ refer to T27, S16 of the Tax Report – Detailed.

This section includes income from foreign equities, managed funds and listed trusts.


Other income an account may receive may include the following:

Gains or losses from the disposal of convertible notes –■■ refer to 03 of the Tax Report – DetailedFund manager rebates – ■■ refer to 03 of the Tax Report – DetailedOther income – listed securities – ■■ refer to S6 of the Tax Report – Detailed.


Tax Report – Summary (Part A) Explained continued

Macquarie Investment Manager Tax Report – Summary (Part A) from 01 July 2009 to 30 June 2010 Account No: JS0001 Account Name: John Sample

TARP

($)

Non – TARP

($)

Taxable amount

($)

Individual Tax Pack Ref. No.

Trust Tax Return

Ref. No.

SMSF Tax Return

Ref. No.

Tax Report – Detailed

Ref.1

Capital Gains/Losses

Capital gains from trust distributionsDiscounted (Grossed up amount) 400.00 630.00 1,030.00 T10; T22; X2

Indexed – – – T13; T25

Other – 100.00 100.00 T14; T26; X5

Total 1,130.00

Capital gains from the disposal of assetsDiscounted (Grossed up amount) – 3,000.00 3,000.00 R5

Other – 2,000.00 2,000.00 R8

Losses – – – R9

Total Current Year Capital Gains Discounted (Grossed up amount) 400.00 3,630.00 4,030.00

Indexed – – –

Other – 2,100 2,100.00

Total 6,130.00

Net Capital GainsGross Capital gains before losses applied 6,130.00

Current year capital losses – sale of assets –

Gross Capital gains after losses applied 6,130.00

CGT Discount Applied to Gross Capital Gains 50% 50% 33.33%

18A 21A 10A

Net Capital Gains After Discount Applied 4,115.00 4,115.00 4,786.00

or or

Net Capital Losses Carried Forward To Later Income Years – 18V

1 Refer to the Tax Report – Detailed provided with this Tax Report – Summary for details at a security level.

2 For disposal of assets held within the Service, we have assumed that all interests are Non-TARP interests on the basis that the investor does not hold more than a 10% interest in the asset. Should this not be the case, the investor will have to calculate their correct CGT position.

Capital Gains have been split between TARP (gains relating to taxable Australian property) and Non-TARP (relating to Non-TARP gains). For further information on these gains, please refer to the Tax Guide.

Disclaimer: The tax components in this report reflect only those related to this account. These amounts will need to be adjusted for any additional income earned or expenses incurred elsewhere by the account holder in the corresponding tax year.

This report has been prepared on the basis of the investor being an Australian taxpayer. For information regarding the assumptions used to calculate the amounts in this report, please refer to the Tax Guide that accompanies this Tax Report which is available from your financial adviser.

This report must be read in conjunction with the Tax Report – Detailed for a full breakdown of taxable components. This report is available online via ClientView or from your financial adviser.

Account: JS0001 2 of 2

OTH7

211a

06/

10

Freecall 1800 025 063 Fax Gateway 1800 025 175 Corporate Actions Fax Gateway 1800 281 476

Macquarie Wrap Solutions PO Box N498 Grosvenor Place NSW 1220

[email protected]

macquarie.com.au/wrapsolutions

macquarie.com.au/clientview

Total current year capital gains are the sum of all capital gains from managed fund and listed trust distributions and realised capital gains from the disposal of assets held within the investor’s Wrap account. The amounts disclosed are broken into their relevant class of capital gain (discount, indexed and other).

Simply put, the amounts here are the sum of the amounts disclosed above.

Investors may also wish to refer to the Dividends/Distributions Report and the Realised Capital Gains Report for underlying details.

Capital gains from the disposal of assets are the sum of any gains realised upon the disposal of any assets held within the Service sold by the investor directly. Any capital gains derived will be broken into:

Discounted (100%) amount – ■■ refer to R5 of the Tax Report – Detailed

Other – ■■ refer to R8 of the Tax Report – Detailed

Losses – ■■ refer to R9 of the Tax Report – Detailed.

Capital gains from trust distributions are the sum of the distributed components of any capital gains received from managed funds and listed trusts. These capital gains will be broken into:

Discount (100%) amount – ■■ refer to T10, T22, X2 of the Tax Report – Detailed

Indexed – ■■ refer to T13, T25 of the Tax Report – Detailed

Other – ■■ refer to T14, T26, X5 of the Tax Report – Detailed.

TARP capital gains are capital gains which relate directly or indirectly to the disposal of Australian real property.

In respect of TARP capital gains, Wrap has assumed that an account may have only received these through a managed fund or listed trust distribution and not from the disposal of an asset.

Non-TARP capital gains are capital gains arising from the disposal of assets which do not relate directly or indirectly to Australian real property.

Net capital gains are calculated as follows:

1. Take Total Current Year Capital Gains before any discount factor has been applied.

2. Reduce this amount by any losses from the realisation of assets in the current year.

Losses are applied against capital gains in the following order:

Other gains■■

Indexed gains■■

Gross discounted gains.■■

Wrap does not take into account any carry forward losses which have been incurred in the prior year.

3. Apply any CGT discount an investor may be entitled to (50% for individuals and trusts and 33¹⁄ ³% for superannuation funds – note that companies are not entitled to any discount).

4. The balance remaining after any discount has been applied is an investor’s net capital gain for the current year. In our example the Net Capital Gains amount of $4,115 is calculated by taking the Total Current Year Capital Gains – Discount (Grossed up amount) of $4,030, applying the 50% discount and then adding the ‘Other’ capital gain component. This can be shown numerically as follows:

Discount (Grossed up amount) $4,030

Less: CGT discount 50% $2,015

Equals $2,015

Add: Other capital gains $2,100

Equals: Net capital gains $4,115

Note that in our example, the sample investor has not incurred any capital losses in the current period.


This document is current as at 30 June 2010 and is issued by Macquarie Investment Management Limited (MIML) ABN 66 002 867 003. MIML is not an authorised deposit-taking institution for the purposes of the Banking Act (Cth) 1959, and MIML’s obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of MIML. In deciding whether to acquire or continue to hold an investment, investors should consider the relevant offer document or Product Disclosure Statement.


New in 2010 for instalment warrant holders - Issuer Instalment Warrant Tax Report - Summary

This will provide a summary of prepaid interest, interest refunds and borrowing fees, as provided by each issuer, for individual and SMSF investors.


Tax Report – Detailed (Part B) ExplainedThe Tax Report – Detailed provides investors with a detailed breakdown, on a distribution by distribution basis, of all income that an investor has derived for the income year ended 30 June 2010. It also contains information about any disposal and any expense that has been incurred throughout the financial year.

The Tax Report – Detailed has the following distinct sections:

Cash (C)■■

Managed Funds and Listed Trusts (T)■■

Listed Securities (S)■■

Other Income (0)■■

Disposal of Capital Items (R)■■

Excess Assessable Gains (X)■■

Denied Franking Credits (DF); and■■

Fees and Expenses (F).■■

The Cash (C) and Fees and Expenses (F) section will always be shown. The Tax Report – Detailed will only disclose those other sections of the report that are relevant to the investor’s account.

The purpose of this information is to highlight how the amounts disclosed on the Tax Report – Summary can be reconciled back to the Tax Report – Detailed.

We also refer to other Wrap reports that can be used to obtain further information:

Dividend/Distribution Details – Accruals Basis Report■■

Income and Expenses Report■■

Realised Gains/Losses Report.■■

This is a training document. This is not tax advice. We recommend you seek professional tax advice to determine the appropriateness and relevance of this document to the investor’s personal circumstances. For detailed information regarding tax policies and assumptions Wrap has used to prepare the Tax Reports, please refer to the Tax Guides, available from the Wrap tax website which can be accessed from the Quick Links menu or the Tax Reporting 2010 button on the Wrap homepage.

Managed Funds & Listed Trusts (T)

Australian Sourced Income Expenses Tax Deducted Tax Offset

Distributed Australian Capital Gains

Security Gross discount amount

Discounted amount (a)

Concession amount

Indexed amount

Other amount

Expenses paid (b)

TFN WHT

Non resident

WHT

Franking credits

References T10 T11 T12 T13 T14 T15 T16 T17 T18

XYZ Balanced Fund (XYZ0000AU)

ABC Stapled Security – Stapled Security Underlying Asset (ABC)

400.00 200.00 100.00 372.64

Total 400.00 200.00 100.00 372.64

INCOME


Australian Sourced Income

Non-Assessable Amounts

Security Date declared/

paid

Net (cash) amount

Franked dividends

Unfranked dividends

Conduit foreign income

Interest Other Tax free

Tax exempt

Tax deferred/Return of

capital


XYZ Balanced Fund (XYZ0000AU) 30-Sep-09 5,400.00 1,578.71 100.00 3,083.85 32.76

DEF Stapled Security – Stapled Security Underlying Asset (DEF)

31-Dec-09 4,630.08 869.51 200.00 215.32 683.90 2,290.94

Total 10,030.08 869.51 1,778.71 100.00 3,299.17 683.90 2,323.70

Macquarie Investment Manager Tax Report – Detailed (Part B) from 01 July 2009 to 30 June 2010

Account No: JS0001 Account Name: John Sample INCOME

Cash (C)

Australian Sourced Income Tax Deducted

Security Datedeclared

Net (cash)amount

Interest Other TFNWHT

Non-resident

References C1 C2 C3 C4 C5 C6

CMT – 000123456789 27-Jul-09 12,394.59 12,394.59

Interest received (Margin loan) 7,416.18 7,416.18 340.37

XYZ Term Deposit 06mth maturity 15/05/09 (X0000000Y)

15-May-10 400.87 400.87 89.93

Total 20,211.64 7,817.05 12,394.59 340.37 89.93

CMT income –This amount is made up of distributions received from the Cash Management Trust (reported on an accruals basis). Although the CMT is a managed investment, we have disclosed the CMT in the Cash Section as Aust Other.

The Cash section also discloses any tax file number (TFN) or non-resident withholding tax deductions.

For further details refer to the Dividend/Distribution Details – Accruals Basis Report (Component Breakdowns section).

The Managed Funds and Listed Trusts section (T) provides a detailed component breakdown of income received from, and expenses incurred in respect of, unlisted managed funds and on an investment by investment basis.

Amounts are reported under the headings:

Australian Sourced Income ■■

Expenses■■

Tax Deducted ■■

Tax Offset – Franking credits■■

Foreign Income ■■

Tax Offset – Foreign tax credits■■

Income from managed funds and listed trusts is included as assessable on an accruals basis.


Non-Assessable Amounts – Tax deferred, tax free and return of capital distribution component amounts require adjustments to the cost base and/or reduced cost base (as relevant) of the asset.

Net (cash) amount – This amount is the sum of all the following components (i.e. cash components) for each managed fund and listed trust security:

Franked dividends T2■■

Unfranked dividends T3■■

Conduit foreign income T4■■

Interest T5■■

Other amount T6■■

Tax Free T7■■

Tax exempt T8■■

Tax deferred/ Return of capital T9■■

Discounted amount T11■■

Concession amount T12■■

Indexed amount T13■■

Other T14■■

Foreign income T19■■

Discounted amount T23■■

Concession amount T24■■

Indexed T25■■

Other T26■■


Distributed Australian Capital Gains – Provides a breakdown of any capital gains income that has been included in distributions received from unlisted managed funds and listed trusts.

Note that the concession amount distributed may not always be 50% of the gross amount disclosed. This is because of the way in which fund managers and product issuers allocate their expenses.


Non-resident Withholding Tax – The amounts reported here are the amounts that have been deducted throughout the year. If the account holds unlisted managed funds, a net adjustment may appear in this column which represents the adjustment required to ensure that the account has paid the correct withholding tax throughout the year.

For further information please refer to the Tax Guide.


Conduit foreign income – This amount represents that part of an unfranked distribution that is declared to be conduit foreign income (CFI). Broadly, CFI is foreign income which is flowed through a company but is not subject to withholding tax.


Foreign Income Tax Offset

Distributed Australian Capital Gains

Security Foreign income

Foreign – CFC

Foreign – FIF

Gross discount amount

Discounted amount (C)

Concession amount

Indexed Other Foreign tax

credits


XYZ Balanced Fund (XYZ0000AU) 143.51 30.00


10,581.25 630.00

Total 10,724.76 30.00 630.00

Foreign Income – Discloses any foreign income (including distributed foreign capital gains) that has been included in distributions received from unlisted managed funds and listed trusts.


INCOME

Listed Securities (S)

Australian Sourced Income Tax Deducted

Security Date paid

Net (cash)

amount

Franked dividends

Unfranked dividends

Conduit foreign income

Interest Other TFN WHT

Non-resident WHT

References S1 S2 S3 S4 S5 S6 S7 S8

ABC Limited Fund (ABC) 24-Oct-09 2,400.00 2,040.00 340.00 20.00

XYZ Stapled Security – Stapled Security Underlying Asset (XYZ)

12-Apr-10 297.58

Total 2,697.58 2,040.00 340.00 20.00

Net (cash) amount – This amount is the sum of all the following components (i.e. cash components) for each listed security:


Foreign Entities – The amounts reported in these columns represent the unrealised income that may accrue in respect of investments in these foreign entities, as notified by the product issuer.

Conduit foreign income (CFI) – This amount represents that part of an unfranked distribution that is declared to be CFI. Broadly, CFI is foreign income which is flowed through a company but is not subject to any withholding tax.

The Listed Securities section (S) provides a detailed component breakdown of income received from, and expenses incurred in respect of, listed securities on a security by security basis.

Amounts are reported under the headings:

Australian Sourced Income ■■

Tax Deducted■■

Foreign Income■■

Tax Offset■■

Expenses ■■

Income from listed securities is included as assessable when:

Franked or unfranked dividends are ■■

paid or credited; Foreign income is paid or credited; ■■

and/or Interest income from convertible ■■

notes is declared.


Margin Loan interest – This is the amount of interest refunds received by the investor from margin loans held within their Wrap account. This information is provided directly by the margin lenders.

For further details refer to the correspondence provided by your client’s margin lender.

Franked dividends S2■■

Interest S5 ■■

Tax exempt S10■■

Unfranked dividends S3■■

Other S6 ■■

Tax deferred/Return of capital S11■■

Conduit foreign income S4■■

Tax Free S9■■

Foreign income S12■■

Gross discount amount – The amount reported here is the gross discounted capital gains amount. It is arrived at by multiplying the distributed discounted amount (as notified by the product issuer) by two.

New in 2010 for instalment warrant holders – Issuer Instalment Warrant Tax Report – Detailed.

This will provide detailed information for each instalment warrant held in an investor’s account, as provided by each issuer.

Term Deposit Interest – This is the gross amount of interest received in respect of each term deposit. Where relevant, break costs associated with the early termination of a term deposit have been netted off against the cash received.

OTH7

211b

06/

10

Freecall 1800 025 063 Fax Gateway 1800 025 175 Corporate Actions Fax Gateway 1800 281 476

Macquarie Wrap Solutions PO Box N498 Grosvenor Place NSW 1220

[email protected]

macquarie.com.au/wrapsolutions

macquarie.com.au/clientview

This document is current as at 30 June 2010 and is issued by Macquarie Investment Management Limited (MIML) ABN 66 002 867 003. MIML is not an authorised deposit-taking institution for the purposes of the Banking Act (Cth) 1959, and MIML’s obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of MIML. In deciding whether to acquire or continue to hold an investment, investors should consider the relevant offer document or Product Disclosure Statement.

OTHER INCOME (O)Security Event Units Purchase

datesSale date/

maturityPurchase

costNet

proceedsAssessable

income/loss

References O1 O2 03

EEE Ltd PARS (EEHA) Disposal 335.00 12-Oct-06 16-Aug-09 35,000.00 33,000.00 (2,000.00)

Fund Manager Rebate 327.64

Total 335.00 35,000.00 33,000.00 (1,672.36)

DISPOSAL OF CAPITAL ITEMS – COST BASE/PROCEEDS INFORMATION (R) Security Units Purchase

dateSale date Adjusted

cost baseIndexed

adjusted cost

Net sale proceeds

Proceeds less cost


Discounted 50%(a)

Discounted 33 ¹⁄³%(b)

Other Capital Losses

References R1 R2 R3 R4 R5 R6 R7 R8 R9

ABC Limited (ABC) 500 21-Mar-07 07-Mar-10 10,000.00 13,000.00 3,000.00 3,000.00 1,500.00 2,000.00


2,000 21-Jul-08 04-Apr-10 3,000.00 5,000.00 2,000.00 2,000.00

Total 13,000.00 18,000.00 5,000.00 3,000.00 1,500.00 2,000.00 2,000.00

Listed Securities (S)

Non-Assessable Amounts Foreign Income Tax Offset Expenses

Security Tax free

Tax exempt

Tax deferred/ Return of

Capital

Foreign income

Foreign – CFC

Foreign – FIF

Franking credits

Foreign tax credits

Expenses paid

References S9 S10 S11 S12 S13 S14 S15 S16 S17

ABC Limited (ABC) 874.29


297.58 44.64

Total 297.58 874.29 44.64

Tax Report – Detailed (Part B) Explained continued

EXCESS ASSESSABLE GAINS (X)Security Underlying

Asset (applicable to Stapled Securities)

Units Purchase date

Date declared/

paid

Excess Assessable

Gain Amount (1)


Discounted 50%(a)

Discounted 33 ¹⁄³%

(b)Other

References X1 X2 X3 X4 X5


ABC Trust 1,667.00 18-Aug-05 24-Aug-09 5.62 5.62 2.81 3.75

Total 5.62 5.62 2.81 3.75

Foreign Income – Discloses any foreign income that has been included in income received from listed securities.

For further details refer to the Dividend/Distribution Details – Accruals Basis Report (Component Breakdowns section). EXCESS ASSESSABLE GAINS (X) –

This additional section of the Tax Report – Detailed will only be included where an E4 or G1 capital gain has occured.

An E4 event happens to units in listed and/or unlisted managed funds. A G1 event happens to shares.

E4 and/or G1 events occur where non-assessable distributions exceed the cost base of that asset for tax purposes. The excess is a capital gain and may be discounted so long as the relevant criteria are met. The amount of the capital gain is assessable to an investor at the time the distribution or dividend is declared or received as relevant.

OTHER INCOME (O) – Includes amounts received in respect of any disposals or conversions of convertible notes that an investor has made during the year and the sum of any fund manager rebates to which an investor is entitled.

Other income is included as assessable when the amounts are paid or credited.

For further details refer to the Realised Gains/Losses Report, the Income and Expenses Report, and the Dividend/Distribution Details – Accruals Basis Report (Component Breakdowns section).

Column R5 represents the gross capital gain derived by an account from asset disposals prior to any discount being applied. It is arrived at by deducting costs from proceeds where the assets have been held longer than 12 months.

Column R6 represents the discounted capital gains derived by an account from asset disposals after a 50% discount factor has been applied. This will only be shown for assets held longer than 12 months.

Column R7 represents the discounted capital gains derived by an account from asset disposals after a 33¹⁄ ³% discount factor has been applied. This will only be shown for assets held longer than 12 months.

Column R8 represents the short capital gains derived by an account from asset disposals and is arrived at by taking the asset’s cost from the proceeds received. This is only disclosed for assets that have been held for less than 12 months.

Column R9 represents the capital losses incurred by an account from asset disposals held within the investor’s Wrap account during the past year.

DISPOSAL OF CAPITAL ITEMS – COST BASE/PROCEEDS INFORMATION (R) – This section provides information in respect of any asset sold, triggering a CGT event, which was held in the investor’s Wrap account. It includes cost base information, acquisition information and any disposal information.

This section includes information on the disposal of instalment warrants but not convertible notes which will be found in the Other Income (O) section of the Tax Report – Detailed.

For further details refer to the Realised Gains/Losses Report.

DENIED FRANKING CREDITS (DF)Managed Funds & Listed Trusts

Security name Ex-date Denied franking credits

References

CCC Trust 12-Jul-09 45.00

Sub Total DF1 45.00

Listed Securities

Security name Ex-date Denied franking credits

ABC Limited 10-Sept-09 200.00

Sub Total DF2 200.00

Grand Total 245.00

* The 45 day holding period rule may apply to deny franking credits available to you. These amounts have been separately reported above for your information. The 45 day rule methodology applied may not be correct where the investor has participated in any buyback during the tax year. For more detail about the 45 day rule please refer to the Tax Information Guide.

FEES AND EXPENSES (F)In respect of Total payments Deductible Non-deductible Unallocated

References

Government charges F1 –

Adviser fees F2 –

– Establishment fees F3 –

– Ongoing fees F4 –

– Transaction fees F5 –

Administrator fees F6 – 69,868.32 69,868.32

Interest paid (Margin Loan) F7 – 7,923.74 7,923.74

Total 77,792.06 77,792.06 0.00 0.00

For a full list of the assumptions used to calculate the amounts in this report, please refer to the Tax Guide that accompanies this Tax Report, which is available from your financial adviser or ClientView.

This report does not include the interest and borrowing fees that may be applicable to Instalment Warrants held in the Service. A separate Transaction Basis Report is available from your adviser which contains this information.

Disclaimer: The tax components in this Report reflect only those related to this account. These amounts will need to be adjusted for any additional income earned or expenses incurred elsewhere by the account holder in the corresponding tax year.

The Tax Reports only disclose current year capital losses incurred from assets held within the Service. Where the investor has any prior year capital losses or current year capital losses incurred from assets held outside the Service, we recommend the investor seek independent taxation advice to determine the correct capital losses amount.

We have treated all Establishment fees as non-deductible. For all other adviser fees, we have treated them as unallocated or classified them based on instructions received and have not considered whether the classification is correct. Where your adviser has elected for transaction fees on Term deposits or cash investment to be attributed to the cost base of these investments, these fees have been classified as unallocated as these investments for tax purposes are not subject to capital gains and therefore do not have a tax cost base.

For all enquiries regarding this report please call, <Adviser Name> on <number>.

This Tax Report has been prepared without taking into account your objectives, financial situation or needs. This Tax Report does not constitute personal tax advice. Therefore, before preparing an income tax return, you should consider the appropriateness and relevance of the tax statement, taking into account your specific circumstances. This Report has been prepared on the basis that you are a resident Australian individual. Where this is not the case, particular amounts may need to be recalculated.

Interest paid (Margin Loan) – This is the total amount of interest paid in respect of margin loans held within the investor’s Wrap account. This information is provided directly by the margin lenders.

For further details refer to correspondence provided by your client’s margin lender.

DENIED FRANKING CREDITS (DF) – This will list dividends and distributions where assets have been sold within 45 days (excluding buy and sell dates) and a dividend has been received within that period.

Where this is the case the investor may need to subtract the relevant franking credits attached to that dividend or distribution as they may not be entitled to claim these franking credits.

The amount of denied credits has been separately disclosed for listed securities and managed funds and listed trusts.

This additional section will only be included where the 45 day holding period rule may be applicable on dividends and distributions received by the investor.

FEES AND EXPENSES (F) – The amounts listed are arrived at by adding together all expenses incurred within the investor’s Wrap account and are reported separately under each category to which they relate.

The amounts reported under each category in the Expenses section of the Income and Expenses Report are transposed directly onto the Tax Return Report – Detailed next to the headings of the same names.

For further details refer to the Income and Expenses Report (excludes instalment warrant expenses).

Non-Assessable Amounts – Tax deferred, tax free and return of capital distribution component amounts require adjustments to the cost base and/or reduced cost base (as relevant) of the asset.


Foreign Entities – The amounts reported in these columns represent the unrealised income that may accrue in respect of investments in these foreign entities, as notified by the product issuer.


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