A unit price reflects the value of a fund’s investments, including any income accrued but not yet distributed. When distributions are paid, the unit price will usually decrease by an amount equal to the distribution. As a result, if your fund pays a distribution on 30 June, the unit price will generally decrease after the close of business by the same amount.

Please note that if you fully withdraw units from your fund before 30 June, you will not receive a distribution for those units. If you partially withdraw units from your fund you will only receive a distribution for the units you still hold at 30 June.

Finalising year-end unit prices is a detailed process and takes time due to distribution calculations and review requirements. We expect unit prices for Perpetual’s funds to be available from mid-July.

For external fund manager investment options, we rely on the external fund managers to provide information to us. This means it will take longer to finalise and we expect unit prices for external fund manager investment options to be available by late July.

The reinvestment of your 30 June distribution will be processed with an effective date of 1 July using the fund’s post-distribution price. This reinvestment amount will be incorporated into the opening balance on your Annual Statement for the following financial year and will not appear as a separate transaction on your 2023/24 statement.

Distributions (if any) that will be reinvested are referred to as a ‘distribution awaiting reinvestment’. For example, if you receive a distribution for the period ending 30 June that you intend to reinvest, that amount is referred to as the ‘distribution awaiting reinvestment’ on 1 July of the following financial year. On your Annual Statement for the following financial year, the distribution reinvested will be incorporated into the opening balance and will not appear as a separate transaction.

Your bank account will be debited as normal, however we need to wait until the unit prices are available for all funds before your money can be processed into your account. This delay won’t impact you as you will receive the unit price for the effective date of your savings plan.

During July there may be delays in issuing unit prices as we finalise year-end distributions. While unit prices are unavailable, we are not able to process transactions, including withdrawals.

This delay will not affect the value of your investment or the value of any transactions made during the year-end period. When unit prices are issued, transactions will be processed for the day they were received and accepted.

We will endeavour to obtain the prices and process transaction requests as quickly as possible.

Yes, we expect the regular withdrawal plan to be affected by the unit pricing delays. We will need to wait until the unit prices come in for all funds before regular withdrawal plan payments are processed. Once we have the unit prices, clients should expect to receive their funds within five to seven business days.

In general, distributions that occur during the year reflect income only. If capital gains have been realised during the financial year, these are generally included in the June distribution.

The majority of Perpetual investment funds are Attribution Managed Investment Trusts (AMITs).

No change has been made to the way in which distributions for the 2023/24 year have been paid. No income has been accumulated in any fund as permitted under the AMIT regime and no  distributions have been automatically reinvested in the fund (unless you have instructed us to reinvest).

Tax Statements (now referred to as AMMA statements) are issued to all investors, including non-resident investors, who have held   units in Perpetual Investment funds at any time during the financial year.

PAYG Payment Summaries are issued to:
 
•    Pension members -– who are less than 60 years of age, and
•    Term Allocated Pension members -– all members irrespective of age.

Super members are not issued PAYG Payment Summaries.

The Tax Statement or PAYG Payment Summary helps you to complete your income tax return. We also provide a guide to help you understand your Tax Statement or PAYG Payment Summary. We recommend that you seek help from your financial and/or tax adviser or the Australian Tax Office when completing your income tax return, as we are unable to provide you with tax advice. Please refer to “Financial Year End Statements Schedule” for information on mailing times / availability via myPerpetual

When we mail statements that contain information required to be included in your income tax return, we will enclose a tax guide to help you. Electronic copies of these tax guides can also be found here once they are available.

Our 'myPerpetual' investor portal provides easy and convenient access to your account information, your statements and allows for transacting online. 

If you have already provided us your email, you can easily log-in to myPerpetual or register as a new user via www.perpetual.com.au/myperpetual-help and follow the instructions.   Alternatively, you can contact us to help arrange your access including assessment of the level of access assigned. 

You should also refer to the information available on the ATO website

The PAYG payment summaries for Perpetual WealthFocus Pension Plan and Perpetual Select Pension Plan are prepared in early July and will be sent via mail and available on myPerpetual in mid-July.

Pension payments from a Term Allocated Pension fall within the definition of a capped defined benefit income stream. A PAYG payment summary is required to be issued to Term Allocated Pension members over 60 years.

The PAYG payment summary is only relevant if you have received pension payments in excess of $118,750 (up from $106,250 in the previous year) from all capped defined benefit income streams you hold.

To complete Tax Statements, we require full financial year-end information for each fund. This may include actual year-end financial information from external fund managers.

We finalise Tax Statements as soon as we receive all the relevant information, however the information from external fund managers may not be received until late July.

The majority of Perpetual investment funds are Attribution Managed Investment Trusts (AMITs).

Where the fund is an AMIT, unless the Commissioner of Taxation determines otherwise, the investor will be deemed to be a ‘qualified person’ in respect of the franked distribution and therefore does not need to apply the 45 day rule and is entitled to claim all of the franking  credits distributed to them from the fund.

Only a handful of Perpetual investment funds have not elected into the AMIT regime. Where a fund is not an AMIT, a note will be made on the tax statement issued to investors.

Capital gains made by the funds have been split between 'TAP' (gains relating to taxable Australian property) and 'NTAP' (relating to non-TAP gains). This distinction is not relevant for Australian resident investors but may be relevant for non-resident investors and custodians.

The only distinction relevant for Australian resident investors is Discounted capital gains (where the gain has been reduced by 50%) and Other capital gains (where no CGT discount is applicable).  
 

For Perpetual WealthFocus Investment Advantage, if you have withdrawn all or part of your investment during the financial year, we expect to send you a Capital Gains Tax Statement by late July to assist you in preparing your income tax return.

We do not provide a Capital Gains Tax Statement if you have withdrawn units from any other Perpetual investment fund.

If you require information to help you calculate capital gains/losses realised during the financial year, please email us at investments@perpetual.com.au and request a Full Transaction Summary, quoting your client number and/or account number.

The amount shown under the Discount Method is the gross amount before any discount has been applied. The capital gains tax discount is 50% for individuals and trusts (other than complying  superannuation entities) and 33 1/3% for complying superannuation entities. Companies are not entitled to a capital gains tax discount.

The capital gain disclosed in the Discount Method column on the Capital Gains Tax Statement is the gross amount of the capital gain (ie before application of any discount percentage).

Tax-deferred / non attributable distribution components received from your investment in Perpetual WealthFocus  Investment Advantage have been taken into account, to determine the realised capital gain or loss shown on your Capital Gains Tax Statement.

You can contribute to your spouse’s superannuation account and receive a tax offset if your spouse earns less than $40,000 p.a. The maximum contributions you can claim a rebate on remains at $3,000 and the maximum offset at $540 pa. The maximum offset will begin to reduce if your spouse’s income exceeds $37,000. For more information, we recommend you seek professional advice in relation to your specific circumstances.

The concessional contribution cap is $30,000 p.a. for everyone ($27,500 in the previous financial year).

The non-concessional contribution cap is $120,000 p.a. ($110,000 in the previous financial year) for members with a total superannuation balance of less than $1.9 million on 30 June 2024. If you are under 75 years, you may be able to use the bring-forward rule of 2 years ($240,000) or 3 years ($360,000), depending on your total superannuation balance as at 1 July 2024.

The concessional cap is $27,500.

The non concessional cap is $110,000.

The general transfer balance cap remains unchanged at $1.9 million.

The general transfer balance cap will increase from $1.7 million to $1.9 million on 1 July 2023.

You can check your personal transfer balance cap using the ATO online services through myGov.

If you were on the minimum pension for the 2023/24 financial year, the minimum will automatically apply to your Pension Plan account for the 2024/25 financial year. If you would like to change your pension payment, please complete the Pension Changes Form (enclosed with your annual pension review information).

We will process your July 2024 pension payment when it is due using the last available exit price.

‘Capital growth/loss’ is the unrealised difference between the opening balance at the beginning of the financial year (1 July) and the closing balance at the end of the financial year (30 June).

The ‘Return on investment’ (where applicable) is made up of unrealised capital growth/loss, gross distributions received, Member Advice Fee payments, rebates, if applicable, during the financial year.

‘Fee’s for no service’ is a phrase which relates to financial advice clients who are charged fees for an ongoing service, such as annual periodic advice, which is not provided

For Perpetual’s investments, super and pension funds, you have been charged the management fee as disclosed in the product disclosure statement (PDS) that you invested in.

This fee is for managing your investment, including administration, trustee and custodial services.

All fees charged to your account, either directly or indirectly, are disclosed in your annual statement. 

Investors may have received a refund of fees from their Adviser Group as a consequence of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. You would have received a letter detailing the amount, which is reflected as an ‘adjustment’ transaction in your statement. 

Perpetual may make ongoing member advice fee payments to your financial adviser. From 1 July 2021 advisers are obligated to obtain your written consent to deduct ongoing fees on an annual basis. Where you have not provided fresh consent, these payments will cease.

You can view your Member Advice Fee details anytime via myPerpetual.   

We only make payments to financial advisers, discount brokers and other intermediaries where permitted by law.

From 1 January 2021, all commission payments to financial advisers ceased.