AMIT Statements Explained (AMMA)

An AMIT statement — properly an AMMA statement (AMIT Member Annual Statement) — is the annual tax statement you receive from an ETF or managed fund that has elected into the Attribution Managed Investment Trust (AMIT) regime. It sets out your determined member components for the year — Australian dividends, franking credits, foreign income, capital gains and tax-deferred amounts — and, importantly, the AMIT cost base net amount: the net up-or-down adjustment to make to the cost base of your units.

You use the components to complete your tax return, and the cost base net amount to keep your units’ cost base correct for future CGT. This is general information, not tax advice; see the ATO on AMIT cost-base adjustments.

Last reviewed: 23 July 2026.

Illustration of an AMIT/AMMA tax statement on a dark background, flowing into a portfolio tracking app: colour-coded distribution components — franked, capital, deferred and foreign — being categorised into a donut chart on screen.

What is an AMIT (a.m.i.t) statement?

AMIT stands for Attribution Managed Investment Trust — a tax framework many Australian ETFs and managed funds have elected into. Under it, the trust attributes its taxable income to you on a fair and reasonable basis, rather than you simply being taxed on the cash it distributes. Because of that attribution model, the annual statement is called an AMMA statement (AMIT Member Annual Statement) instead of the older “annual tax statement”. Cited to the ATO on attribution managed investment trusts.

What is an AMMA statement and how do I read it?

Your AMMA statement lists your determined member components for the income year — typically:

  • Australian income — dividends (franked and unfranked) and franking credits (see our franking credits explainer);
  • Foreign income and any foreign income tax offsets;
  • Capital gains — often split into discounted and other method components;
  • Tax-deferred / non-assessable amounts; and
  • the AMIT cost base net amount — the single most important line for CGT (next section).

You transcribe the income components into the managed-fund section of your tax return, and you apply the cost base net amount to your holding. The AMMA statement often arrives after 30 June (August–September), but the cost-base adjustment belongs to the income year it relates to (the year the trust attributes the amounts) under the ATO’s attribution rules — not the year you physically receive the statement.

The AMIT cost base net amount: increase vs decrease

The distinctive feature of the AMIT regime is the cost base net amount, which prevents you from being taxed twice — or not at all — on the same money. It is the balance of two things:

  • Cost base increase amount — arises where the trust attributes you more taxable income than the cash it actually paid (for example, capital gains retained in the fund). Because you are taxed on income you did not receive in cash, your cost base is increased so you are not taxed on it again at sale.
  • Cost base decrease amount — arises where the cash you received exceeds the taxable amount attributed (for example, tax-deferred or return-of-capital components). Because you got cash that was not taxed as income, your cost base is decreased so the deferred gain is captured when you sell.

The AMIT cost base net amount is the balance of the increase and decrease amounts, and it can be a net up or a net down for the year.

Use the figure on your statement, not your own subtraction. The examples below simplify the idea to cash vs taxable income to show the direction. The actual increase or decrease is calculated by the trustee under an ATO formula that also brings in tax offsets and the separate assessable, non-assessable and capital-gain components — so apply the cost base increase or decrease amount printed on your AMMA statement rather than deriving it yourself from cash and taxable income alone.

Simplified illustration (net decrease): an AMMA statement with cash distribution $1,000 and attributed taxable income $700 (a $300 tax-deferred gap) reports a cost base decrease of $300. If your units’ cost base was $10,000, it becomes $9,700 — increasing a future capital gain by $300.

Simplified illustration (net increase): cash distribution $1,000, attributed taxable income $1,200 (the fund attributed $200 of capital gains it retained) reports a cost base increase of $200, to $10,200 — reducing a future capital gain by $200.

How AMIT cost-base adjustments affect CGT

Your CGT on the units is worked out on your adjusted cost base — the cost base after every year’s AMIT net amount (and any returns of capital or corporate actions) has been applied. Skip the adjustments and your capital gain will be wrong: unrecorded decreases understate your gain (and can trigger ATO correction), while unrecorded increases mean you pay more tax than you should. Keeping a running cost base each year is what makes the eventual CGT calculation correct. Model the gain in the CGT calculator once your cost base is up to date.

How to upload your AMIT statement to Crowdfolio

Crowdfolio lets you upload each holding’s AMMA statement so the components and the AMIT cost base net amount are recorded against the right parcel automatically, keeping your adjusted cost base current for CGT across your ASX ETFs and funds. Always reconcile the recorded figures against your own AMMA statement and the ATO.

Frequently asked questions

What is an AMIT statement?

It is the annual tax statement — properly an AMMA statement (AMIT Member Annual Statement) — from an ETF or managed fund in the Attribution Managed Investment Trust regime. It sets out your attributed income components (dividends, franking credits, foreign income, capital gains, tax-deferred amounts) and the AMIT cost base net amount to apply to your units.

What is the difference between an AMMA statement and an ordinary tax statement?

An AMMA statement comes from a trust that has elected into the AMIT regime, which attributes taxable income to you rather than just distributing cash. The practical difference is the AMIT cost base net amount — an annual up-or-down adjustment to your units’ cost base that ordinary distribution statements do not produce.

What is the AMIT cost base net amount?

It is the balance of your cost base increase amount and decrease amount for the year. A cost base increase happens when you are attributed more taxable income than the cash you received; a decrease happens when cash received exceeds the taxable amount (for example tax-deferred amounts). The net amount can be up or down, and you should use the figure reported on your AMMA statement.

How does an AMIT statement affect my capital gains tax?

The net cost base adjustment changes your units’ adjusted cost base, which is what CGT is calculated from. A decrease raises a future gain; an increase lowers it. Applying each year’s AMIT net amount keeps your eventual CGT figure correct.

How do I record an AMIT statement in Crowdfolio?

Upload the AMMA statement for the holding and Crowdfolio records the income components and the AMIT cost base net amount against the right parcel, keeping your adjusted cost base current for CGT. This is an estimate — reconcile against your own statement and the ATO.

This help article is general, factual information for Australian resident investors and provides a description only. It is not financial or tax advice and does not account for your circumstances. AMIT attribution and cost-base rules are detailed — verify against your own AMMA statement and the ATO, or consult a registered tax agent, before lodging.

Related: our adjusted cost base guide explains how these adjustments feed CGT, and the capital gains tax calculator models a sale on your adjusted cost base.