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Hi Ronald
I will show with an example:
Magellan Global distribution (based on an actual tax statement):
Cash Attribution
CG discount $1,500 $5,000
Net CG $1,500 $5,000
AMIT gross up $0 $5,000
Total CG $3,000 $10,000
Cash dist $3,000 $3,000
AMIT shortfall (increase) $7,000
In the financial statements the "cash distribution" of $3,000 is normally recorded as distributions in the operating statement. There are entries in the background to take up the tax components of the distribution. In BGL these are shown in the "investment income report".
In the background there is distribution details made up of:
Capital gains $10,000 Credit entry
Cost base increase $7,000 Debit entry
Cash increase $3,000 Debit entry
Thanks
SMSF AAA