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Jump to:

• About APA Group
• Before you start
• Approach 1 — one manual entry per component, per payment
• Approach 2 — two consolidated entries per financial year
• Verifying the result

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About APA Group (APA)

APA Group is one of Australia's largest listed energy infrastructure businesses. It is structured as a stapled security made up of two separate assets that trade together as a single unit:

Entity Name	Component Type	Tax Treatment
APA Infrastructure Trust	Non-trust	Taxed like a company — reported as non-trust income
APA Investment Trust	Trust	A pass-through trust — reported as trust income

APA's Distribution Advice and Annual Tax Statement report both trusts' amounts together as a single payment, and a single payment can cover more than one tax year. Sharesight's auto-generated dividend records this as one undifferentiated payment, which does not give the correct tax treatment. Each payment therefore needs to be manually split into its trust and non-trust components before it is recorded.

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Before you start

Have APA's Distribution Advice (or Annual Tax Statement) for the relevant payment date open. It shows, per payment date, a breakdown by stapled security component similar to this:

From this statement you need:

1. The total distribution amount.
2. The amount attributed to APA Infrastructure Trust (non-trust/company-like income).
3. The amount attributed to APA Investment Trust (trust income), and which tax year(s) that trust component relates to — a single payment can straddle two tax years, as in the example above.

Both approaches below start the same way: delete or reject the auto-generated APA dividend that Sharesight created for that payment date, so it isn't recorded (and double-counted) alongside the manual entries.

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Approach 1 — one manual entry per component, per payment

More entries, but each one maps directly to a line on the Distribution Advice, which makes it easy to check. The example below uses the statement shown above — the payment dated 10 September 2025, covering the period 1 January to 30 June 2025.

1. Delete/reject the auto-generated dividend for that payment date.
2. Create one manual dividend payment per component shown on the statement for that date. This payment date requires three entries:

a. APA Infrastructure Trust → non-trust income

Copy the Infrastructure Trust row straight from the statement: date paid, ex date, franked amount, tax deferred amount and franking credits. Leave Trust income unticked — this component is taxed like a company.

b. APA Investment Trust, earlier tax year → trust income

Copy the amount from the Investment Trust row for the earlier tax year, and tick Trust income. Set the ex date so it falls within that earlier financial year (e.g. 01/06/2025 for a 2025 tax year component).

c. APA Investment Trust, later tax year → trust income

Copy the amount from the Investment Trust row for the later tax year, and tick Trust income. Set the ex date so it falls within that later financial year (e.g. 05/07/2025 for a 2026 tax year component).

3. Repeat for every payment date in the period you're recording (e.g. the September and March distributions each year) — each date gets its own set of two or three entries, following the same statement.
4. Trust income is reported by ex-date. Where a single payment's trust component needs to land in a specific financial year, manually set that entry's ex-date so it falls in the correct year, as shown above.

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Approach 2 — two consolidated entries per financial year

Fewer entries: instead of one manual dividend per statement line, roll every payment date in a financial year up into just two entries for that year.

1. Delete the auto-generated dividend(s) Sharesight created for that financial year.
2. Record two payments for the financial year, using the totals from the Annual Tax Statement rather than the individual Distribution Advices:
   • One entry for the non-trust component (APA Infrastructure Trust) — the year's total non-trust income. Untick Trust income on this entry.
   • One entry for the trust component (APA Investment Trust) — the year's total trust income. Tick Trust income on this entry.

The diagram above shows how each line of the Annual Tax Statement (FY2026 example) maps into the two consolidated entries — the Infrastructure Trust figures (franked amount, tax deferred amount, franking credits) go into the non-trust entry with Trust income unticked, and the Investment Trust figures (unfranked amount, tax deferred amount) go into the trust entry with Trust income ticked.

Use this approach when you're reconciling a full financial year at once and want the Taxable Income Report to match the Annual Tax Statement with the fewest entries — Approach 1 is better when you want each entry traceable back to a specific Distribution Advice.

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Verifying the result

Once every payment for the financial year has been entered and correctly allocated between trust and non-trust income (and, for Approach 1, into the right financial year by ex-date), run Sharesight's Taxable Income Report for that year and compare it line by line to APA's Annual Tax Statement. The two should match; if they don't, check for a payment date that still has its auto-generated entry left in place alongside the manual ones, or a trust-income entry with an ex-date in the wrong financial year.

Sharesight does not provide taxation advice. If you have any questions about your tax position, we recommend you contact your accountant or tax advisor.