When your client invests in a managed fund which is a Managed Investment Trust (MIT) through our platform, the fund manager responsible for that product is required by Australian law to provide a "12H Notice." This notice breaks down each distribution payment into its specific tax components, a process governed by Subdivision 12H of the Taxation Administration Act 1953.
Bond Street Custodians Limited (BSCL), the sub-custodian for Perpetual Private Wrap uses the 12H Notice from each fund manager to perform its legal obligation: calculating and withholding the correct amount of tax for all non-resident investors.
The following resources which can be accessed through the Perpetual Private Wrap Investment menu page give you a clearer view of this process:
Report | Description |
12H Component Report | This report provides a detailed breakdown of your distribution, showing the specific components used by the custodian to calculate the applicable withholding tax. |
Fund Manager 12H Distribution Schedule | This schedule provides links to the 12H notices published directly by the various fund managers whose products are available on our platform. Please note these are external sites and we are not responsible for their content. |