Commonwealth Consolidated Acts

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AMIT member annual statement (or AMMA statement)

             (1)  An AMIT member annual statement (or AMMA statement ) is a statement made by an * AMIT for an income year in accordance with this section.

             (2)  The statement must:

                     (a)  include information that reflects the amount and character of each * member component of the * member for the income year; and

                     (b)  state what the trustee reasonably estimates to be the amount of the excess or shortfall mentioned in section 104-107C (AMIT cost base net amount) for the income year in respect of the * CGT asset that is the member's unit or interest in the * AMIT.

             (3)  The statement is not an AMMA statement if the * AMIT fails to give it to the * member to whom it is addressed within 4 years after the end of the income year.

Note:          The AMIT must give each member an AMMA statement for the income year no later than 3 months after the end of the income year (see section 276- 455).

Guide to Subdivision 276-J

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