Wrap tax
Elections
Adviser tax elections – open online from 8 May 2013 until 12 July 2013
Advisers have until 12 July to set or adjust their clients' elections for the 2012/13 tax year on the Wrap website.
Current elections
- Unless you make new elections for the 2012/13 tax reporting year, we will carry forward your elections from the previous period
- If you have not previously made elections, or have changed or created new adviser codes since July 2012, our default elections will apply.
Make elections
The following information will guide you in making tax elections.
How to make your elections
What if you don’t make an election?
Elections information
Complex security holders and non-residents
You are off to a flying start
By wrapping up your clients’ investments in one place using Macquarie Wrap, you have already started to reduce your workload at tax time.
To further support you during this busy time of year, we have produced a toolkit complete with tax resources to meet your technical and administration needs.
These resources include:
- news
- 2012 resource library including Fast Facts
- online elections
- help with SMSF audits
- tax calculators
- archived resources from 2007 to 2011.
Sharemarket tax facts – download your copy now
Resources
To assist you, your clients and their accountants, we have compiled a dedicated resource library containing materials to enhance your knowledge about some complex tax issues.
KPMG Independent Review Report
Wrap tax guides
2013 the tax report explained
Client materials
Fast Facts
Product issuer schedule
Instalment Warrants
ATO links
Corporate action calculators
2012 Super and Pension tax calculations
The tax calculations and adjustments for the period 1 July 2011 to 30 June 2012 have been completed for Macquarie Wrap Super and Pension Accounts.
Resulting tax adjustments were made to your clients' Cash Accounts and appeared in their Cash Transactions Report dated 20 December 2012 (the processing date). Please see below for further information regarding this adjustment.
To assist you in explaining to your clients the principles and assumptions that we have used to calculate each member's notional tax return, we have released:
-
online Superannuation Tax Calculation report
- Guide to Member Tax Calculation
The Guide to Member Tax Calculation is provided to you for information purposes only. No action is required from you or your clients.
Frequently asked Questions
(The following are further explained in the Guide to Member Tax Calculation)
What does this mean for members at an individual level?
Which clients are included?
What if my client's account is closed?
What if my client has switched between super and pension accounts during the period, or since June 30 2012?
Why would my client be debited tax?
What do my clients see?
Helping you with SMSF audits
Self Managed Super Fund (SMSF) auditors are required to conduct both a financial and compliance audit, and subsequently express an opinion that the SMSF has:
- made no material errors in the financial statements
- complied with the Superannuation Industry (Supervision) (SIS) Act and regulations.
To assist you and SMSF auditors in this process, Macquarie Wrap has made reports available that highlight the effectiveness of our internal controls and ensure the information provided in investor statements contains no material errors.
What reports are available?
The reports provided are listed below:
- Independent audit report by the auditor to the Board of Directors of Macquarie Investment Management Limited on internal controls and other relevant accounting procedures as they relate to the specified annual investor statements for the year ended 30 June 2012 - please refer to the below table.
- Independent review report by the auditor to the Board of Directors of Macquarie Investment Management Limited on the specified annual investor statements for the year ended 30 June 2012 - please refer to the below table.
- Internal Controls (GS007) report on Internal Controls over Custody, Investment Administration, Superannuation Administration and Information Technology. This includes an independent assurance report conducted by the auditor on the description of controls, their design and operating effectiveness for the year ended 30 June 2012.
These reports may also apply to other account structures held under the Investor Directed Portfolio Service (IDPS) and Superannuation products.
SMSF audit reports
Important information
Please note these reports are not individually prepared for each Macquarie Wrap SMSF client. We therefore recommend that you review the information provided, and assess whether it provides sufficient evidence regarding internal controls and material accuracy of the annual investor statements in order to meet your specific auditor responsibilities.
Specific documentation from the SMSF’s trustee will be required when carrying out your audit obligations in respect to assets that are either held outside Macquarie Wrap or are ‘below the line’ assets. To assist you in determining the extent to which these reports may be relied upon, please refer to the Government’s Auditing and Assurance Standards Board website and the Guidance Statement GS009 Auditing Self- Managed Superannuation Funds.
Archive
Refer to the relevant sections below for archived information regarding previous tax periods.
2011
KPMG Independent Review Report
Tax guides
SMSF audit reports
2010
KPMG Independent Review Report
Tax guides
Instalment Warrants
2009
KPMG Independent Review Report
Tax guides
2008
KPMG Independent Review Report
Tax guides
2007
Tax guides
Quick links
News
18 October 2012
21 August 2012
1 August 2012
23 July 2012
5 June 2012