2011 end of financial year information
When will my consolidated investment tax statement be available?
We aim to publish your consolidated tax statement and capital gains tax report by 23 September 2011.
To download a copy of this, login to your RaboDirect account, click ‘Tax and reports’ on the left hand menu, then tick the ‘Annual tax statement Managed Fund portfolio’ box and follow the on-screen instructions.
We will also publish a 2010-2011 tax guide to assist you in preparing your tax return.
You will find a copy of this on our Legal page.
RaboDirect will send you an email notification once these documents are available for download.
When will my Annual Investor Statement be available?
Your annual investor statement, the audit review and the audit report, can only be finalised after all distributions and tax statements have been prepared. Consequently, we also expect to be able to publish these by 23 September 2011.
To download a copy of the annual investor statement, login to your RaboDirect account, click ‘Tax and reports’ on the left hand menu, then tick the ‘Annual investor statement’ box and follow the on-screen instructions.
The audit review and the audit report will be made available on our Legal page.
RaboDirect will send you an email notification once these documents are available for download.
How do I purchase managed funds?
You can use our online fund selector to compare the various funds on offer, here you can read the Product Disclosure Statements, past performance and individual ratings for each fund.
When you have decided on your choice you simply click the appropriate 'Buy' button which will guide you through the purchase process.
To purchase a managed fund you must first hold a RaboDirect account. To open an account now, just fill in our online application form.
What are the fees and conditions?
An overview of all fees and conditions can be found in our IDPS Guide.
What is an investor profile?
No two investors are the same. Some swear by risk, others want capital security above everything; many have a view somewhere in between. You must decide which profile best suits you, your time horizon and your investment objectives.
To determine your investor profile, decide how much risk you are prepared to take with your investment into managed funds. You need to identify your investment objectives, assess your comfort with the various levels of risk and reward, and clarify your long term investment goals.
To help you do this you may wish to read our Investor case studies.
Do I need to invest a minimum initial amount?
The minimum amount per order is $250.
Do I need any specific investment knowledge?
Each Managed Fund comes with additional information, eg. Fund Profile page and a Product Disclosure Statement (PDS). We advise you to read these documents carefully before placing an order, giving full consideration to your risk profile and investment objectives.
When you provide us with a buy order, you must confirm you have received the Product Disclosure Statement. This can be found both in the Fund Selector adjacent to the buy button for each fund, or on the Buy units in a fund screen. We may even automatically display this for you when you select the buy button.
When are buy (orders) completed?
Orders are completed and processed as soon as the fund manager provides the fund price, for fund investing inside Australia this will usually be the next day, for other funds this may be two or three days later. In each case RaboPlus will process your order as quickly as we receive confirmation from the fund manager.
Your orders must be placed before 11am (Sydney time) in order to be completed for that days unit price. A confirmation of the transaction will appear in your online account, and remain as a pending order until the confirmation is received from the fund manager.
We suggest that you place your order at least 15 minutes before closing time. With orders there are no guarantees regarding the fund price for which your order will be executed. Please note that it may differ from the fund price currently indicated.
How do I know if my order has been completed?
You can check if your purchase has been completed in your Managed Fund Portfolio, those orders yet to be confirmed are shown as pending with a small P.
Can I amend an order?
Yes. You must first cancel the existing order and then place a new order.
Can I cancel an order?
Yes, if your order has not yet been executed. However, there is a deadline of 11am.
How do I cancel an order?
Your managed fund portfolio will show the status of all outstanding orders. Any pending order can be cancelled. Select pending orders, indicate which order you wish to cancel and click on "Cancel". Then click "Confirm" to cancel the order, or click "Cancel" to return to the pending orders screen.
Are orders always processed?
Orders for managed funds are only completed during working hours on business days. For 2011 the following days are exempt:
Labour Day - Monday, 3 October
Christmas Day - Monday, 26 December
Boxing Day - Tuesday, 27 December
How frequently do managed funds pay distributions?
Different funds may pay distributions at different times of the year and this will typically depend upon what type of fund it is. Funds will schedule to pay distributions either monthly, quarterly, semi-annually or annually. To find out how often a fund schedules to pay distributions, it is best to refer to the fund's Product Disclosure Statement (PDS). Any distributions will be paid directly to your RaboDirect account, so refer to the PDS to get an indication of when you can expect the money to be transferred. A distribution will not necessarily always be made on a scheduled distribution date, as the performance of a fund will impact on its ability to pay money back to investors.
What is the role of the RaboDirect Investment Committee?
The Investment Committee is responsible for managing and maintaining the relationship with fund providers and managed funds that RaboDirect offer and ensuring that the funds we offer continue to meet our selection criteria. The Investment Committee is required to uphold our selection philosophy, safeguard the selection criteria, guidelines and procedures of the selection criteria. The role of the Investment Committee is not to verify the quality of the fund providers and/or managed funds.
Why would a fund manager or fund be placed 'on hold' or removed from the selection of funds RaboDirect offers?
The RaboDirect Investment Committee may place a fund manager and/or fund 'on hold' when it no longer meets our selection criteria. The Investment Committee will usually only take this action as a temporary measure and where the outstanding issues are likely to be resolved within a reasonable timeframe.
What should I know about tax on my managed fund investments?
The FAQ provided here provides a general summary of some of the Australian taxation implications associated with owning managed funds. The information is based on current Australian tax laws in force as at 1 May 2007. These laws may change at any time. You should consult your own tax adviser in relation to your investments.
After the end of each financial year, RaboPlus will provide you with your consolidated annual tax statement showing the tax components of the distributions you received during the year as well as a capital gains tax report. As an individual investor, you can use the information in these two reports in your personal tax returns. Refer to the annual tax information section below.
Will Withholding Tax apply to the distributions?
Where you have not provided RaboDirect with a valid TFN, ABN or exemption code, the distributions on your units may be subject to withholding tax. RaboDirect may be required to deduct withholding tax at the maximum marginal tax rate plus the Medicare levy (46.5%) from payments of those distributions it makes to you. The amount withheld will be displayed in your annual statement credited against your assessment, and may be refunded by the Australian Tax Office ("ATO").
Do I have to pay Capital Gains Tax?
The Capital Gains Tax (CGT) rules are complex and you should consult your accountant or tax advisor to assist you with your CGT position. RaboDirect will provide you with a CGT statement at the end of the financial year that may assist you with determining your CGT position. The CGT statement will be produced on the basis that you are an Australian individual resident. Refer to the annual tax information section below.
What are my tax compliance obligations?
You will be required to file an income tax return and declare distributions you have received, and taxable gains made on the sale of your units (if applicable) in the income year in which those events take place. You will be responsible for satisfying any income tax liability arising in relation to your units to the ATO.
