Trust distributions table

When you choose the TRUST DISTRIBUTIONS button on the Taxable Income menu, Mclowd displays the empty Trust Distributions table.

You will use this table to record data from statements provided by Managed Funds, Unit Trusts, etc. that make profit distributions. These entities supply end of financial year statements that detail the source and tax status of all the components of distributions made to investors during the year. Recording this data correctly is essential to ensuring your tax return is correct.

Note: Any ETF assets or hybrid share (like Sydney Airport) you hold should have been classified as Unit Trusts and therefore should display on the entities list shown here. If you have incorrectly classified your ETF assets as Direct Equities, you will need to reverse all income entries attached to the asset, delete the asset, re-enter the asset as a Unit Trust, and re-enter all income receipts.

For each entity for which you need to record data, choose the ADD ROW button to add a blank row.

Mclowd lists the entities recorded in your Fund records that should have supplied Trust Distribution statements.

Choose the first entity.

Mclowd presents the Table with the entity in the Investment Name column and a row of cells ready for entry of figures. Refer to The Trust Distributions Table, Understanding Capital Gains Data and the examples provided to learn how to record Distribution data correctly.

Process the first entity, then choose ADD ROW again to add another row. Choose the down arrow to select the next entity.

Repeat until all entities have been processed.