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Whats in your statement?
20/08/2018

​We’ve all got a statement in the mail, taken a quick glance and then immediately filed it away to deal with ‘later’.
It’s a statement-heavy time of year, and you might wonder the difference between statements and why each is important.

We sat down with Funds Management Administrator Jeffrey Su to learn more.

 

Jeffrey Su

How many types of statements are there?

There are three types of statements – distribution statements, periodic statements and tax statements. Every client receives a distribution statement, but only investors in the Uniting Ethical Enhanced Cash Trust and the Uniting Ethical Australian Equities Trust will receive periodic and tax statements.


Let’s start with the one that’s probably on everyone’s mind – tax statements.

Uniting Ethical Australian Equities Trust and the Uniting Ethical Enhanced Cash Trust investors receive a tax statement at the end of the financial year. These statements are particularly important, as the tax statement is the only statement that shows the full income component breakdown. Although not the most straight forward, these statements follow a prescribed format set by the Australian Securities and Investments Commission and will be familiar to any tax professional.


What about distribution statements, the ones that everyone receives?

Investors receive two distribution statements every year – one in January and one in July. These are sent after distributions have been paid, showing interest or income you’ve earned in the last six months, plus your transaction history.


Finally, what are periodic statements?

These statements are only sent to Uniting Ethical Australian Equities Trust and the Uniting Ethical Enhanced Cash Trust investors at the end of the financial year. This will show your transaction history, as well as your return on investment and fees that may have been incurred. As these funds are classified as managed investment schemes, these statements follow a prescribed format.


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