Tax reports for your investment clients
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 tax components for an account and process them before we can issue the 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.
The first tranche of client tax reports is generally available by the end of July and subsequent tranches become available in the following months.
Expected completion times
To help you manage your clients’ expectations around the availability of their tax reports, view the Product Issuer Schedule for the FY23/24 tax year. This will give you an indication of when we expect to receive the tax components for each investment option. However, these timeframes may be different for the FY24/25 period.
The below key will help you navigate the schedule:
- Outstanding – We haven’t received tax reports yet. If the product issuer hasn’t provided information by the expected date, we’ll follow them up regularly. We’ll also update the Product Issuer Schedule if we’re informed by the product issuer of any material changes to the expected date.
- Received – We’re processing tax reports and are reconciling them to individual accounts. This process generally takes around two weeks.
- Audit – To provide assurance around the accuracy of your clients’ tax reports, KPMG conducts an independent audit to ensure the reports remain consistent with the assumptions and principles outlined in the tax guide. They’re also responsible for confirming that the information reported is consistent with the information we have on file. This process generally takes around one week.
- Finalised – All tax components for this investment option have been finalised. The finalisation process generally takes around one week.
How will I know when my client’s tax report is ready?
Please view Wrap statements and tax reports for information.
How will my client know when their tax report is available?
We’ll email your client as soon as their tax report is available online.
Please ensure their email address is up to date. View the Help Centre article ‘How can I update details for me and my clients online’ for more information about updating your client’s contact details.
Your clients can also update their email address online anytime by contacting us.
If your client’s account is closed, we’ll post their tax report to the postal address on file.
Tax elections
Tax elections let you customise each of your clients' tax reports to suit their individual needs, allowing you to manage capital gains and the tax treatment of adviser fees.
Elections for FY24/25 are open between Thursday 8 May 2025 and Friday 4 July 2025. You can only make elections or changes to elections during this window.
Changing your client’s tax election status
Please view Wrap statements and tax reports for information.
Any changes made to cost base elections will apply to disposals in the current financial year.