The franking credits can generally be used to offset any tax payable on the dividend. BHP A CSN Facility is the corporate sponsored nominee facility arranged by the relevant company with Computershare Investor Services PLC to hold DIs in the company for and on behalf of participants in, and on terms and conditions that govern, the facility. Does the BHPXF investment need to be created? RNS Number : 7719H. For ineligible overseas shareholders and small BHP shareholders that have validly elected to participate in the sale facility, the in specie dividend entitlement has been transferred to the sale agent to be sold. The following does not purport to be a complete analysis of all potential tax effects resulting from the in specie dividend or the ownership or disposition of Woodside Shares or Woodside ADSs after the receipt of the in specie dividend, and does not address all aspects of US federal income taxation that may be relevant to individual US Holders in light of their particular circumstances. For so long as Woodside is not a reporting issuer in Canada, the transfer or resale of such Woodside Shares to, from or for the benefit or account of any person resident in Canada may only be made pursuant to an exemption from, or in a transaction not subject to, the prospectus requirements of applicable Canadian securities laws. Tags: bhp shares tax B Tilly Member Joined: 19th May, 2020 Posts: 9 Allt lagas av oss och baseras p Strandgatans egna recept. Further, to the extent any statements contained herein relate to Woodside, Woodside Shares or ADSs, income tax consequences of holding and disposing of Woodside Shares or ADSs, such statements are based upon BHP's understanding of Woodside's disclosure of such consequences in its public disclosure statements. [14] BHP DI holders will receive their entitlement in the form of Woodside DIs in the same ratio as BHP shareholders receive Woodside Shares on the Record Date (subject to the rounding treatment described above). Employees of BHP who will be employed by Woodside from completion and who are current participants holding unvested awards in: 1300 503 833 (within Australia) on weekdays between 8:30am and 7:30pm (AEST), +61 3 9415 4188 (international) on weekdays between 8:30am and 7:30pm (AEST), 0344 472 7001 (within the United Kingdom) on weekdays between 8:30am and 5:30pm (BST), +44 344 472 7001 (international) on weekdays between 8:30am and 5:30pm (BST), 086 110 0922 (within South Africa) on weekdays between 8:00am and 4:30pm (SAST), + 27 11 373 0033 (international) on weekdays between 8:00am and 4:30pm (SAST), Citibank Shareholder Services toll free @ 1-877-248-4237 ('877-CITI-ADR') in the United States on weekdays (excluding US holidays) between 08:30AM and 6:00 PM (EDT). Rising Interest Rates & Inflation Ahead! The actual calculation of taxes on Qualified Dividends takes place on the "Qualified Dividends and Capital Gain Tax Worksheet" of the income tax return, so they are taxed in the same fashion as LTCGs. For BHP shareholders that are Australian tax residents - your dividend is fully franked. Woodside has also released the Independent Experts Report prepared for Woodside shareholders, which has concluded that the Merger is in the best interests of Woodside shareholders, in the absence of a superior proposal. Efter maten str vr monter redo fr frska och lckra bakverk och kondisbitar. I took a simpler approach to the value. The cost base for your new Woodside shares will be the market value of Woodside shares on 31 May, which on a per share basis, should be 5.534 times the BHP dividend. For a person earning more than $180,000, this means that an additional $170 tax needs to be paid. They should not provide this info if a tax ruling is pending. Our purpose is to bring people and resources together to build a better world. A little more information I gleaned last night because it is not a sale I do not thinkthere will be an ATO ruling could be wrong but Meet production technician and passionate photographer, Stacey, who works for Operations Services at Daunia mine in Queensland, Australia. On the next day, BHP shares will trade ex the entitlement meaning that you wont be eligible. Ireland: This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. We are both working, with a combined salary of $220,000 a year. This information is provided by RNS, the news service of the London Stock Exchange. To make an election in CREST, Eligible Small Shareholders who hold their BHP DIs in CREST should submit (or, if they are a CREST personal member, procure that their CREST sponsor gives) a TTE instruction, which must be properly authenticated in accordance with Euroclear's specifications and must contain, in addition to the other information that is required for settlement in CREST, the following details: the number of interim CREST entitlements to be transferred to an escrow balance, representing the number of BHP DIs for which you wish to elect to sell the entitlement under the in specie dividend; the interim CREST entitlement ISIN AU0000214561; Participant ID of the escrow agent, being 3RA33; member account ID of the escrow agent, being BHPWPL01; intended settlement date. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. Generally, the market sees that the merger is a win for Woodside and while not a loss for BHP, its motive is around ease of exit rather than gaining a financial advantage. [13] CHESS is the electronic transfer and settlement system for securities quoted on the ASX under which transfers are effected in electronic form. Are there tax implications for BHP shareholders on receipt of Woodside shares? Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, By Damon Evans 17/08/2021, 8:45 am Updated: 17/08/2021, 9:46 am The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. Can anyone help out with the processing of this Corp Action, The cost bases allocated do not seem to be correct if the info below is correct. It is the merger of Woodside Petroleum (WPL) with the oil and gas assets of BHP to create a global top 10 independent energy company by production. I also received $6.62 in lieu of fractional shares that I need to enter. Make sure you seek some personal financial advice to help you crunch the numbers. Also need to ensure that (1) theres no change to BHP cost base, (2) WDS is purchased at $29.76/share. BHP has divested the entire division to Woodside in exchange for Woodside equity. The Sale Facility is only available to BHP DI holders who meet the Small Shareholder Threshold. If a bank account is not recorded, the shareholder will be sent a cheque for the proceeds of sale by BHP (or the BHP share registry). 375 of 2017) (as amended) of Ireland, and the recipients of this document should seek independent legal and financial advice in determining their actions in respect of or pursuant to this document. All prices and analysis at 2 May 2022. I have $100,000 in a bank account, which Centrelink says it would assess, even though I am not claiming the pension. {: di_ This reflects the net cash flows generated by BHP Petroleum, less cash dividends paid by Woodside to BHP, between the Merger effective date of 1 July 2021 and completion. If you own 500 BHP shares, you receive 90 Woodside share. NEWS RELEASE. In 2011, Paul teamed up with Peter Switzer and Maureen Jordan to launch the Switzer Report, a newsletter and website for share market investors. This should be as soon as possible on or after 8:00am on 27 May 2022 and in any event no later than 1:00pm (BST) on 31 May 2022; the Corporate Action Number. The Product team is currently looking at this issue. These are the only market participants who can liaise directly with the STRATE Nominee which allows for electronic settlement of BHP shares on the JSE. A Central Securities Depository Participant, being a participant as defined in section 1 of the Financial Markets Act 19, of 2012 (South Africa). Mobile: +61 411 071 715, Tel: +44 20 7802 7484 BHP shareholders will be entitled to a whole number of Woodside Shares, with any entitlement to a fraction of a Woodside Share that would have otherwise arisen being rounded down to the nearest whole number. info@strandgatan.com, Sn Tors 10.00 22.00 This discussion applies only to BHP shares, BHP ADSs, Woodside Shares and Woodside ADSs held as a "capital asset" for US federal income tax purposes (generally property held for investment). All of these assets will be transferred to Woodside. I am 62 and work part-time. It is addressed only to the shareholders of BHP in connection with the proposed in specie dividend and participation in the Sale Facility. This document has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. [15] CREST is the system for the paperless settlement of trades in securities and the holding of uncertificated securities operated by Euroclear in accordance with the relevant system of which Euroclear is the operator. South African shareholders should refer to the section on "What happens to South African resident BHP shareholders?". he UK taxation summary applies to BHP shareholders who are: (i) resident (and in the case of individuals, domiciled) for tax purposes in, and only in, the UK (and to whom split-year treatment does not apply); (ii) who are absolute beneficial owners of their BHP shares and Woodside Shares and (iii) who hold their BHP shares as an investment (otherwise than through an individual savings account or a pension arrangement). [2] The BHP register comprises the BHP Australian principal share register (comprising both the issuer sponsored sub-register and CHESS sponsored sub-register), the BHP depositary interest register and the BHP South African branch share register (without double counting the shares held on the Australian principal share register on behalf of the BHP depositary interest holders or those on the South African branch share register). It should also make Woodside more financially resilient. Idag finns Arbetarfreningen p vre plan medan Caf Strandgatan har hela nedre plan samt uteserveringen under sommarmnaderna. This is my intended approach. One of Australias biggest corporate mergers is about to take place. BHP ADS holders will be treated as eligible to participate. A new window will open. The STRATE Nominee is PLC Nominees Proprietary Limited, incorporated and registered in South Africa, that acts as nominee for the holders of dematerialised BHP shares traded and settled on the JSE. If for example you own 100 BHP shares, you will receive 18 Woodside shares. I hope that Corporate Action gives the same result! Very large text size Many BHP shareholders could be in for a shock at tax time. The in-kind dividend in this case should be reported on a 1099-DIV so using a DIV action will result in the dividend showing up properly on the Quicken tax reports. 20 May 2022. On 1 June 2022 (Distribution Implementation Date), BHP exchanged all its shares in BHP Petroleum in exchange for Woodside issuing 914,768,948 shares to BHP. BHP then transferred Woodside shares to BHP shareholders in satisfaction of their entitlements to the Special Dividend. 34. There will be no impact to the existing tax cost base of BHP shares for Australian shareholders as a result of the merger. The values presented here are indicative only and based on certain assumptions. hold their BHP shares (and will hold their Woodside Shares) on capital account. BHPs main oil and gas assets are deep water oil wells in the Gulf of Mexico, the Bass Straight oil field (which is a 50/50 venture with Esso), and its joint venture interests in the North West Shelf. [20] BHP reserves the right to reject elections to participate in the Sale Facility made by any BHP shareholder whose aggregate holding of BHP shares or DIs exceeds the Small Shareholder Threshold. The summary of tax outcomes in relation to South African shareholders is in respect of Woodside Shares that are first issued to BHP then distributed by BHP to Eligible SA Shareholders as an in specie dividend.
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