We anticipate mailing our first tranche of Tax Reports in late July. PAYG statements are available after the end of each quarter.
For quick and easy information related to interpreting and explaining your client's Wrap Tax Statement please follow the link below.
Guides to reading the Wrap Tax Statement (available early July)
|Tranche||Estimated release dates||Status||Reports released|
The Statement Estimator Tool provides you with an estimated statement delivery date for the following statements:
Tax Statement (Wrap), and
Annual Statement (Wrap and SuperWrap).
The estimated delivery date is based on information we receive from fund managers and share registries. It is a guide only and may change as we receive further information, so make sure you check back regularly.
Access the Estimator Tool (available early July)
Please note: the dates shown for Investment Wrap Tax Statements presume that complete and correct tax information is received from the fund managers and share registries by our processing cut-off dates. We require 3-4 weeks processing time from the date we receive this component information. The dates may vary depending on factors such as the timeliness and accuracy of information we receive from fund managers and share registries.
We anticipate the statements will be mailed from the below dates:
For quick and easy information relating to interpreting and explaining your client's SuperWrap Annual Statement and PAYG Statement please follow the link below.
Guides to reading the SuperWrap Annual Statement (available early July)
To make it easier for your SuperWrap and Investment Wrap clients we enable them to make deposits using EFT via internet banking, BPAY or by cheque at any Westpac branch in Australia.
Electronic Funds Transfer
To make payments via EFT or at a Westpac branch your client will need their individual account details. You can access these details by visiting the Adviser DeskTop and selecting:
My Clients > Client Details > Cheque and Deposit Facility Details (Investment Wrap)
My Clients > Client Details > Deposit Facility Details (SuperWrap)
Please note: all cheque and EFT deposits must be received by 5pm on Tuesday 30 June. EFT payments will need to be made by 5pm Friday 26 June (subject to issuing bank's processing time) to be received by the cut-off.
Your clients can also make member contributions into their SuperWrap account and deposits into their Investment Wrap account by using BPAY.
|Product||Customer Reference Number||Biller code|
|Investment Wrap||0101 + investor number (excluding the M)
eg: for M01234567,
the CRN is 010101234567
|SuperWrap||3401 + investor number (excluding the M)
eg: for M01234567,
the CRN is 340101234567
|81927 - Member Contribution
81935 - Employer Contribution
81919 - Spouse Contribution
Please note: all BPAY deposits must be made by 5pm on Thursday 25 June.
Clients can access their individual account details by visiting the Investor DeskTop and selecting Home > Your Details
Deposits made using EFT or BPAY will generally be effective on the date that Wrap receives the deposit. Clients will need to consult their financial institution to confirm the specific timeframe for processing an EFT into Wrap.
Deposits made via cheque at any Westpac branch will generally be effective the same day (provided that this day is a business day). The monies will not be available for transacting until after the cheque has cleared.
Please refer to the Transaction cut-off dates calendar.
In the lead up to 30 June, there are a number of compelling reasons to start a conversation with your clients to help them take advantage of specific financial year-end strategies.
To help you manage your clients’ queries and expectations, our ‘Income distributions and tax components tracker’ spreadsheet will show you the income distributions and tax components we’ve already received from fund managers and what’s outstanding.
The spreadsheet will be updated from early July and is available on the Adviser DeskTop via Products & Research > Distributions Timetable
About income distributions
The majority of income distributions are reconciled and processed in July. However, some fund managers may not make payments until significantly later and this can delay some clients' distribution payments.
About Tax Reports
To produce Tax Reports we rely on the receipt of tax components from the fund manager or share registry of every managed fund or share a client was invested in during the financial year. We anticipate sending our first tranche of Tax Reports on Monday 20 July 2020.
The majority of managed investment funds have now opted into the Attribution Managed Investment Trust (AMIT) regime. For information relating to the tax consequences for clients who hold investments in these funds, please refer to the relevant BT Wrap Tax Guide.
For quick and easy information related to interpreting and explaining your client's Wrap Tax Statement please follow the links below.
Refer to the FAQs flyer for common questions and answers on year end statements.
Electronic downloads of client statements
To enable you utilise various software programmes we provide the ability to download client Tax Statement information. Below is a summary of the main tools available.
BGL Simple Fund data download or CSV file. If you do not use the wrap DeskTop you can request a data download through your client's financial adviser.
Wrap clients can permit you, their accountant, to access their Wrap account Statements via BankLink by completing a BankLink Client Authority form. You then provide the form to BankLink. BankLink will establish the client on their software and forward the authority to BT who will include the client in the Download to BankLink.
The information shown on this site is general information only, it does not constitute any recommendation or advice; it has been prepared without taking into account any person’s personal objectives, financial situation or needs and so a person should consider its appropriateness having regard to these factors before acting on it. Any taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and our interpretation. A person’s individual situation may differ and they should seek independent professional tax advice. A person should also consider obtaining personalised advice from a professional financial adviser before making any financial decisions in relation to the matters discussed hereto.