Managed funds and my Income Tax

When you put your hard earned cash in a managed fund, you are actually buying units in the fund. The fund then puts your money in different investments. The value of these units in the fund go up and down depending on how good the investments are. 

These investments also generate income (such as interest, dividends etc) and these get paid to you directly or you choose to buy more units.

So even though your units may have gone down in value, the fund still makes money during the year that gets paid to you.  This is the income you need to put in your etax return.

You should receive an annual tax statement (usually in August or September) that shows the income that you received during the year.

There will be a section on Gotax Online’s Electronic Tax Return (ETax) where you can enter the amounts that are on this tax statement. Once you have completed your tax return you can lodge it via our easy etax online system.

In the unlikely event that you get stuck at any time you can speak to one of our fully qualified tax accountants via live chat, email or phone. 

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Note that the information provided is general in nature and subject to change, please contact one of our professionals who can evaluate your circumstances and provide more accurate advice to your current situation