Dividends due and receivable
Statement Purpose
This statement identifies dividend amounts from the accrued dividend amounts at balance date. These amounts are then deducted from the total accrued dividends amount at balance date to determine the adjustment in the tax reconciliation for dividends not derived in the period.
Data Flow
The information within the current year section of the statement is manually input, with the total current year amount at the end of the financial year rolled forward to the future year’s calculation as the total prior year amount.
Explanation of Fields
The other details requiring manual entry are dividends accrued at balance date but with a due/payment date on or earlier than the period end date (example: June 30). For the first-year calculation, the
Total prior year
amount is to be manually entered. After the first year, this section will roll forward from previous periods.Signage
Signage is to be determined by the user. Therefore, to include amounts as part of the taxable income of the super, amounts are to be entered as positive in the current period section. The
Total prior year
will either be rolled forward as the opposite or need to be entered as the opposite sign.