Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 276.460

  (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).