Understanding EOFY reporting

To generate a Wrap Tax Report via Adviser Online:

1. Log in to Adviser Online
2. Search for your client’s Wrap account
3. Select the account
4. Select the Statements tab
5. Use the year filter options to locate the tax report
6. Select the download icon to download the report.

Your clients can view and download their tax report via Macquarie Online Banking.

Your client may choose to grant their accountant, SMSF administrator, or other authorised representative ‘secure view only’ access to their account reporting. To do this, please complete the Wrap Third Party Authority form from Adviser Tools.

We make tax reports available as soon as we’ve completed them. The timing of completion of your clients’ tax reports depends on when we receive the tax information from the product issuers. We need to receive all fund components for an account and process them before we can issue the tax report.

The Product Issuer Schedule will list the expected date, as notified by the issuer, that the tax information for securities will be provided. The first tranche will generally be available by the end of July. Generally, more than 90% of tax statements are online by the end of September.

For non-resident clients, we perform a year-end withholding tax reconciliation on all open accounts after all tax components have been finalised before we release the tax. The non-resident tax reports are likely to be released post September each year.

All investment Wrap account holders will be able to see their tax report online at online.macquarie.com.au.

We generate tax reports based on detailed information on individual investments provided by asset managers and share registries.

To download a tax status report that confirms which of your clients’ tax reports have been released:

1. Log in to Adviser Online
2. Select Reporting in the menu under the Macquarie icon and click Client & adviser reporting
3. Click Run a report across all my clients’ accounts
4. Select your adviser code from the dropdown menu and click Generate adviser report
5. Select Tax status from the dropdown menu and choose either Screen or PDF. Click Continue
6. Select your tax year
7. Click Generate.

Your client's report status will show in the account details. Reports that are available will show as Final – Tranche. The number shown will indicate which tranche they were released with.

Once your client’s tax report is available online, they’ll receive an email to let them know. For this reason, make sure your client’s email address is kept up to date. We’ll also notify you via email which of your clients’ tax reports are included in a particular tranche release.

Account holders that closed their Investment Wrap account before the end of the financial year will receive their tax report by post as they’ll no longer have online access.

Most tax reports will be available by the end of September. However, certain assets can cause delays in finalising some reports.

If any of your clients hold one or more of the following securities, they can expect to receive their tax report between October and January:

• listed trusts
• international property trusts
• hedge funds
• geared investments
• instalment warrants.

Please refer to the Product Issuer Schedule for the dates we expect the tax information to be provided by the product issuers.

Clients listed as non-residents for tax purposes are also expected to receive their tax report between October and January. We’ll advise you of any changes to this timeframe.

We'll also email you to confirm which of your clients' reports have been released.

To help you manage your client expectations around the availability of their tax reports, we’ve reached out to fund managers and requested an indication of when they can provide us their annual tax components.

Please note that all fund components need to be finalised and processed for an account before we can issue the tax report. Once issued, you can view your clients’ tax reports via Adviser Online.

You can find the latest Product Issuer Schedule in the EOFY Hub.

The status descriptions in the Product Issuer Schedule are:

• Outstanding – The platform hasn’t received fund tax reports. If the fund hasn’t provided information by the expected date, we’ll follow them up regularly. We’ll notify you via email and the Investment Menu News page if the fund manager has informed us of any material changes to the expected date.
• Received – The platform is processing fund tax reports and are reconciling to individual accounts. (On average, this process takes around 2 weeks.)
• Audit – To provide assurance around the accuracy of tax reports, KPMG conduct an independent audit to ensure they remain consistent with the Assumptions and Principles outlined in the Tax Guide and that the information reported is consistent with the information from our source systems. (On average, this process takes around one week).
• Finalised – All tax components for this fund have been finalised. (On average, this process will take around one week.)

This guide will help you interpret your tax report:

• The Macquarie Wrap Tax Guide

Please see below for previous years’ tax guides and information.

In accordance with ATO advice, you shouldn’t rely solely on pre-filled information when preparing your income tax return. Clients should always use their tax report. 

Pre-filled information may be incomplete because of:

• Reporting requirements – Not all income that appears in your client’s tax report is reportable to the ATO. Expenses are not reported to the ATO.
• Timing – Your income information may not yet have been supplied to the ATO or processed by them
• Data-matching – The ATO only pre-fill data where it meets certain data-matching thresholds. Where these aren’t met, information is not pre-filled, and
• Validation – Information must meet certain ATO validation criteria to be accepted.

Note, non-residents and complex securities holders may need to lodge their tax return through a tax agent to avoid any penalties that may apply if they don’t lodge their return with the Australian Tax Office before 30 October.

A Wrap client’s residency status affects their withholding tax. If your Wrap client was listed as a non-resident for tax purposes during FY24/25, we need you to review their residency by 9 August 2025 to ensure it’s correct for their 2025 tax report.

For non-resident clients a year end withholding tax reconciliation is performed on all open accounts after all tax components have been finalised before the tax report is released. The non-resident tax reports are likely to be released post September each year.

Please ask your client to complete the Change of Residency form (Wrap accounts only). They’ll need to include all residency changes throughout FY24/25, as well as their country of residence as of 30 June 2025.

You can send the completed form to fsgmaspfstax@macquarie.com.

Annual statements for investment, super and pension accounts are available online for you and your clients.

• Investment Wrap annual statements will be issued by the end of July each financial year.
• Wrap super/pension annual statements will be released between September and December each year.

PAYG summaries are mailed each year in July. We're required by law to send these each year before 14 July.

We send them to any member who:

• had a pension account during the previous financial year and the account was still active on 30 June, and
• was under age 60 at the time any pension payments were made, and
• received pension payments with a taxable component.

And for Term Allocated Pension (TAP) members, regardless of their age, where:

• a TAP started before 1 July 2017, and
• the account was still active on 30 June.

We’ll add an update to the adviser portal once we’ve emailed these to clients.

We generate personal contribution summaries early August and aim to issue them to clients via email or mail by mid-August. We’ll email their advisers first.

All super Wrap clients who made a personal contribution during the most recent financial year will receive a personal contribution summary.

If your client has made personal contributions to their super account during FY23/24, we’ll get in touch with them to confirm the total amount and any amounts they’ve already submitted a valid deduction notice for.

If your client doesn't want to make any amendments, they don’t need to do anything. However, we recommend they keep our communication for their taxation records.

Your client can follow this guide if they’d like to:

• lodge a deduction notice for personal contributions made during FY23/24
• change the amount they intend to claim in their tax deduction.*

*Subject to the validity of the deduction notice. Please see the guide above for further details.

Your client will need to submit a deduction notice either:

• before they lodge their tax return for FY23/24, or
• on or before the last day of FY24/25 whichever occurs first.

You can download acknowledgement letters in Adviser Online for your clients who have notified us of their intent to claim a tax deduction for their personal super contributions.

As well as acknowledgement letters, you can also download exit statements, PAYG annual statements and partial rollover confirmations for your clients from Adviser Online. Simply visit the ‘Client Correspondence’ tab on the ‘Statements’ page. You can view client correspondence for more information.

We report on margin loans in the following manner:

• any income derived from assets in a margin loan account is disclosed as assessable income in the Tax Report – Summary and the Tax Report – Detailed
• any interest expense incurred is also disclosed in both the Tax Report – Summary and the Tax Report – Detailed in the Fees and Expenses section of those reports. The amount of interest expense incurred is disclosed as deductible.

Where an investor has closed out their margin loan and received an interest refund from the margin lender, the amount of interest refunded is disclosed as assessable income on both the Tax Report – Summary and the Tax Report – Detailed.

Where an investor has changed margin lenders throughout the year, we only report the amounts as provided by their margin lender at 30 June. Investors will need to add any other information received from prior margin lenders to the information disclosed on their annual Tax Report – Summary and Tax Report – Detailed.

The above-mentioned treatment doesn’t take into account an investor’s specific circumstances and we recommend seeking independent tax advice.

Self-managed super fund (SMSF) auditors need to conduct both a financial and compliance audit, and subsequently express an opinion on whether the SMSF has:

• made no material errors in financial statements
• complied with the Superannuation Industry (Supervision) (SIS) Act and regulations.

To assist you and SMSF auditors in this process, the Independent Audit Report and Independent Review Report issued at the end of each financial year highlight the effectiveness of our internal controls and ensure the information provided in investor statements contains no material errors.

SMSF assets held outside Macquarie Wrap 

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.

The following reports are issued by KPMG after completion of all tax reports:

Independent Audit Reports

• KPMG independent review report – Macquarie Wrap
• KPMG independent review report – Macquarie Vision

Annual Investor Statements Audit and Review Reports

These are provided 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 financial year ending 30 June each year.