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How should I interpret a distribution statement?
How should I interpret a distribution statement?

This article explains what a distribution statement is and how you should interpret it.

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Written by Christian Lambert
Updated over 3 years ago

Every time a distribution payment is made from a fund to investors, Jasper supplies supporting documentation through a distribution statement. The statement covers a detailed view of income and tax for the previous distribution period, with a prescribed investor rate of 28.00%

So what does your statement tell you?

  • Income - Non Taxable: Income and expenses are considered differently for the purposes of financial reporting compared with tax reporting, which means a portion of your total income (or loss) generated from your investment in the Fund is not subject to tax.

  • Income - Taxable: This is the portion of total income from your investment in the Fund that is considered taxable (or loss that is considered refundable) under New Zealand’s current tax regime.

  • Total Income: This is the sum of non taxable and taxable income from your investment in the Fund. Total income is determined for financial reporting purposes using generally accepted accounting practices (GAAP) as specified in the applicable reporting standards issued by the External Reporting Board (XRB).

  • Retained Income: Not all income earned by the Fund is generated as cash and cannot be readily distributed to investors until it is realised (e.g. unrealised gains in the properties' market values). The Manager determines a portion of the Fund's income that needs to be retained as working capital to meet liabilities as they fall due.

  • Total Distribution: Surplus cash in the Fund distributed to you as income earned on your investment over a specified time period, before tax.

  • PIE Tax: Your portion of Income – Taxable for the specified period multiplied by your Prescribed Investor Rate (PIR).

  • Net Amount: The amount of cash paid into your Jasper wallet or bank account. It is your total distribution less your PIE tax

All amounts are expressed in NZD. Please advise us if your PIR has changed. If you do not advise us of any change, we will continue to use the PIR disclosed above.

Where a distribution is made to an individual investor with the correct PIR applied to calculate PIE tax, the distribution should be treated as excluded income and is not required to be included in the investor's income tax return.

To view historic distribution statements, simply log into your account and navigate to the Documents section of your Holding - from there you will be able to view your distribution statements, and other documents relating to your investment.

If you have any questions regarding your statement, please contact your Account Manager directly or email [email protected].

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