[GNC] Tax Accounting for Trust Income Received in Following Fiscal Year

[Chris Grinton]

Re "the attribution values [...] don't exist in the [...] tax return": On
the contrary, the attribution values from Part B are exactly what drives
the values that end up at the various labels in the Australian tax return
as detailed in Part A of the AMIT statement. I don't think you'll get away
from entering these values in a balanced transaction somewhere if you want
to use GnuCash to track the details required for your tax return; but if
you aren't trying to do that then you're right that you won't need to enter
them.

I've added the tax return labels to the relevant accounts in the following
chart of accounts:
[image: image.png]

The only tax label that doesn't appear directly here is 18A (Net capital
gain), as that needs to be calculated after adding together capital gains
of all sources, applying capital losses and any relevant discounts.

Chris

On Fri, 12 Aug 2022 at 16:26, flywire <flywire0 at gmail.com> wrote:

> Thank you for the discussion. To clarify, these ETFs are index funds:
> https://www.vanguard.com.au/personal/invest-with-us/etf?portId=8205&tab=prices-and-distributions
> I don't see the point of entering the attribution values since they don't
> exist in the bank statement or tax return.
>
> A contra account seems to handle funny-money (ie unreal transactions) in
> reports. The link in my first post explains how I moved the last
> distribution into the correct tax year with a conta transaction. I'm more
> inclined to think the tax amounts are somehow contra transactions using the
> tax codes as descriptions.
>
> Investment bank account and tax details:
>
> Investment Acc                                          Amount
>     02/08/2017          6836         73.00VAS.AX           -499,028.00
>     02/08/2017                            Brokerage             -10.00
>
> Date          CPU           Ex-Date       Payable
>   30/09/2017      100.881066    02/10/2017    17/10/2017      6,896.23
>   31/12/2017       68.098905    02/01/2018    17/01/2018      4,655.24
>   31/03/2018       66.525579    03/04/2018    18/04/2018      4,547.69
>   30/06/2018      101.729353    02/07/2018    17/07/2018      6,954.22
>
> Tax Amount
> 13U  3,606.42
> 13Y      0.00
> 13C 22,870.71
> 13Q  7,069.35
> 13R      0.00
> 13A      0.00
> 13S      0.00
> 18A  1,568.43
> 18H  3,135.48
> 20E    463.54
> 20F      0.00
> 20M    463.54
> 20O     15.64
>
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