Income Tax Act 2007 section 943D

Annual statements

Section 943D requires trustees of unauthorised unit trusts to provide annual statements to unit holders containing the information they need to work out their tax positions, particularly in relation to foreign income and foreign tax credits.

• Trustees of unauthorised unit trusts must provide annual statements to unit holders
• The statements must enable unit holders to calculate their income tax liabilities or any repayments due to them
• The information must cover how much of any deemed tax deduction can be treated as foreign tax for credit purposes
• The statements must also show how much of any deemed income payments can be treated as foreign income