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Guessing this was likely written by a dev who doesn't understand the intricacies of the QFF and how the two dates differ.
I suspect you are right here.
Each transaction object from the API has two date name-value pairs: the "date" which is when the transaction posted to your account, and the "activityDate" which really matters (the effective date the transaction actually occurred and what is used for calculating status tier, Points Club etc).
"date": "2021-01-11",
"activityDate": "2020-11-17",
"description": "EBAY 17-NOV-2020",
Looking at the logic on the new activity statement page, they are not using the "activityDate" (effective date) at all. They are relying purely on "date" (posting date). So filtering by "Current Membership Year" for example will never be truely reflective of the actual transactions that matter to your current membership year.
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