Because while the world relies on the resources we find, BHP relies on people like you. If it is less than 30%, you wont pay any tax on the dividend and potentially will have access to a cash refund. Thank you to anyone who can answer this? CHESS is the electronic transfer and settlement system for securities quoted on the ASX under which transfers are effected in electronic form. Financial results and Operational Reviews, Operational (Scope 1 and 2) decarbonisation, Value chain (Scope 3) greenhouse gas emissions, Carbon offsets and natural climate solutions, Our Global Inclusion and Diversity Council. As a result, BHP has now distributed Woodside shares to eligible BHP shareholders. Woodside and BHP also plan to file other documents with the SEC regarding the proposed Merger and in specie dividend. It is also worth noting that BHP shareholders who are Australian tax residents would be able to use franking credits to offset any tax payable on the dividend. A new window will open. Or are qualified dividends always taxed at the same rate as LT cap gains? We believe the future is increasingly clear and our strategy, portfolio, capabilities and approach to social value position us to play an important role in meeting the twin objectives of an accelerated energy transition, and continued economic development and improvement in living standards. The net result will depend on your marginal tax rate. Thinking about your next career move? Summary of the merger. 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. We do this through our strategy to deliver long-term value and returns through the cycle. Mobile: +61 411 071 715, Tel: +44 20 7802 7484 permitted to receive Woodside Shares if they hold BHP Shares on the Australian principal share register or on the South African branch share register, or Woodside DIs if they hold BHP DIs, under all applicable laws (including for the purposes of the SA Exchange Control Rules); and. The last date on which holders of BHP ADSs will be permitted to surrender their BHP ADSs and withdraw the BHP shares that their surrendered BHP ADSs represent is expected to be Friday 20 May 2022 (EDT). Can be up to $29.75 difference. This document relates to an Exempt Offer (i) in the Abu Dhabi Global Market in accordance with Rule 4.3.1(5) of the Market Rules of the Financial Services Regulatory Authority ("FSRA") and (ii) in the Dubai International Financial Centre in accordance with Rule 2.3.1(e) of the Markets Rules of the Dubai Financial Services Authority ("DFSA"). This may vary depending on the BHP register as at the Record Date and could also be lower where South African BHP shareholders validly elect to receive the Woodside Shares to which they are entitled. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. This is open to BHP shareholder who own 1,000 BHP shares or less. The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. Short-term and long-term executive incentive plans, under which employees are granted rights to BHP shares, subject to meeting defined performance and/or service conditions; and. Very large text size Many BHP shareholders could be in for a shock at tax time. BHP will receive 914,768,948 Woodside ordinary shares as part of the Merger. [17] 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. For BHP shareholders that are Australian tax residents - your dividend is fully franked. [10] BHP is entitled to approximately US$1.2 billion in relation to dividends paid by Woodside between the Merger effective date and completion. Looks like a manual process. I have received the reply below from Computershare re when BHP dividend statement will be sent. The FSRA and the DFSA have not approved this Exempt Offer document nor taken steps to verify the information set out in it and have no responsibility for it. Germany: This announcement does not constitute a prospectus according to Regulation 2017/1129/EU of the European Parliament and of the Council ("EU Prospectus Regulation") and has been prepared on the basis that the transactions described in this announcement do not constitute a public offer within the meaning of the EU Prospectus Regulation. 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. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. In addition, this summary does not address the Medicare tax on certain investment income, information reporting and backup withholding requirements, US federal estate or gift tax laws, any state, local, or non-US tax laws, any tax treaties, or any other tax laws. This document is not intended for distribution. It must not be delivered to, or relied on by, any person apart from the shareholders of BHP in connection with proposed in specie dividend and participation in the Sale Facility. What happens to South African resident BHP shareholders? This is my intended approach. I am aged 63, my wife is 60, and we are in no rush to retire. If for example you own 100 BHP shares, you will receive 18 Woodside shares. Woodside's board unanimously recommended that the company's shareholders vote in favour of the merger. Can I transfer some of that money into my superannuation account, using the three-year catch-up rule, and claim a tax deduction to bring our total assets under $901,500? In this regard, you are referred in particular to those sections of the CREST Manual concerning practical limitations of the CREST system and timings. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). The sale proceeds may take up to 12 weeks to be remitted to BHP shareholders. Implementing the BHP and Woodside Merger Adding your Woodside shares 1 - On the [32] 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 as an in specie dividend. Hi All. Woodside will make a cash payment to BHP of approximately US$830 million in relation to cash dividends paid by Woodside between the Merger effective date of 1 July 2021 and completion. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. The current CA process may not be able to do all the above. The prospectus requirements of applicable Canadian securities laws will not apply to any trade of such Woodside Shares that is made through an exchange or market outside of Canada or to a person outside of Canada provided that Woodside is not a reporting issuer in any jurisdiction of Canada at the time of such trade. To what extent will BHP shareholders' information transfer to the Woodside share register? BHP does not take any responsibility in connection with a BHP shareholder's nomination to be an Eligible SA Shareholder, and each BHP shareholder nominating as an Eligible SA Shareholder must satisfy itself that they are permitted to receive Woodside Shares or Woodside DIs, including by seeking the advice of professional and legal advisers. Tel: +61 3 9609 3830 Because BHP has surplus franking credits, the dividend will be fully franked, providing additional benefits to some low tax rate BHP shareholders and reducing any tax impost for high rate shareholders. He shares his three tips on finding FIFO happiness. WealthHub Securities Ltd. is not a registered tax agent. Woodside will retain its primary listing on the ASX and is seeking a standard listing on the LSE and a sponsored Level III ADR program on the NYSE from completion of the Merger. BHP DI holders holding through the BHP CSN Facility will be treated as eligible to participate. Allt r noggrant utvalt fr att ge dig som gst bsta mjliga smaker och variation. These include the fact that tax would be payable on any personal income derived from the in-specie dividend, as would be the case with a cash dividend payment. All of these assets will be transferred to Woodside. Some functionality will be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance. In 2011, Paul teamed up with Peter Switzer and Maureen Jordan to launch the Switzer Report, a newsletter and website for share market investors. If a BHP shareholder holds one or more parcels of BHP shares or DIs as a trustee or nominee for, or otherwise on account of, another person, that BHP shareholder may make separate elections in accordance with the election process in respect of each of those parcels. By reason of the foregoing, if you are in Malaysia, you may not distribute this document to anyone other than your own financial and legal advisors, nor may you make copies of this or any other document you receive, except to the extent necessary to consult with your financial and legal advisors who are advising you in connection with this potential investment (and only so long as such advisors agree to hold this information confidential and not use it for purposes other than advising you in connection herewith). This material is intended to provide general advice only. It will be fully franked, with franking credits of $2.48 per share. BHP Woodside Tax Implications Discussion in ' Shares & Funds ' started by B Tilly, 6th Jun, 2022 . A share sale facility will be in place for eligible small BHP shareholders who elect to participate, and for shareholders who are ineligible to receive Woodside Shares. The Product team is currently looking at this issue. 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. 08 April 2022. What are the tax outcomes of the in specie dividend? Lets unpack that. k 3{/,x |c#=G@? *;Nj7-4:Cr>&WXB't(TG&95g7YcL1a`9 It has been prepared without having regard to or taking into account any particular investors objectives, financial situation and/or needs. 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. No. At this valuation, which is subject to change, the inspecie dividend would be US$4.62 with US$1.98 of franking credits being distributed per BHP share (US$10.0 billion of franking credits in total). No fractional Woodside ADSs will be issued or delivered to holders of BHP ADSs. Is there anyone who can give me the actual numbers for the BHP spinoff that I can enter into Quicken? iDP>=[_4P\"g\q|;Na*g8$R[xw'`$Ns5}@;U?Di#g ? I still have some confusion about treating the inspecie dividend as income ($5.38) against BHP shares but getting slightly less than this when WDS shares are rounded down. Tags: bhp shares tax B Tilly Member Joined: 19th May, 2020 Posts: 9 Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. However, the trustee or nominee may not accept instructions from an underlying beneficiary to make an election unless it is in respect of all parcels of BHP shares held by the trustee or nominee on behalf of that beneficiary, and the underlying beneficiary has confirmed to the trustee or nominee that its aggregated beneficial and legal holding of BHP shares is less than the Small Shareholder Threshold. TIDMBHP. No. Dr tillagas varierande mat med hgsta standard. 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). This includes the Computershare South Africa CSDP service. To participate in the Sale Facility, Eligible Small Shareholders must make a valid election. Avnjut grna med ett glas vin eller svalkande l till. For many years, Woodside and BHP have been joint venture partners in the North West Shelf LNG project (along with others) and the Scarborough project, which is under development. f3h;xt[N*OJisO~*9gr_z~/\I!MZPE|qB On the next day, BHP shares will trade ex the entitlement meaning that you wont be eligible. BHP ADS holders will be treated as eligible to participate. I received 11 shares of WDS and I had a little over 30 shares of BHP. This represents the cash dividend that would have been received by holders of the Woodside Shares issued pursuant to the Merger had they been on issue on and from the effective date. The remainder of this discussion assumes that BHP will not be treated as a PFIC in the taxable year of the in specie dividend or any prior taxable year. , issuing new Woodside shares to BHP shareholders. Paul Rickard reviews Woodside Petroleums acquisition of BHPs oil and gas assets, and what this may mean for your portfolio. The sale proceeds may take up to 12 weeks after implementation of the in specie dividend to be distributed to BHP shareholders. BHP Group (BHP) and Woodside Petroleum Ltd (Woodside) entered into a share sale agreement (SSA) for the merger of BHPs oil and gas portfolio with Woodside by an all-stock merger (Merger) on 22 November 2021. The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. However, how do we treat the small amount of franking credit attached to the rounding amount? In what form will BHP shareholders receive Woodside Shares? Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. info@strandgatan.com, Sn Tors 10.00 22.00 It also operates oil fields off the North West Cape, an offshore gas field near Onslow, and has interests in assets in Algeria and Trinidad and Tobago. Thanks guys. In the energy sector, some see better value in Santos (STO). BHP shareholders entitlement to, and the payment of, the in specie dividend is subject to completion of the Merger. A new window will open. Ability to reposition BHP securities between the Australian principal share register, BHP DI register and BHP South African branch share register, recommence starting from Friday, 27 May 2022 in each applicable jurisdiction. Maybe your broker's site has a similar feature. imT:}dZZU}_wAC /@V^u1H]{nNaom3n3Uq< Kz8>MS`O-d%]J$9E!m^|YZI89 This taxation summary is based on the South African Income Tax Act, 58 of 1962 (, should also include the amount of the franking credits attached to the in specie dividend in your assessable income in the income year in which you receive the in specie dividend; and. This announcementcontains information relevant for BHP shareholders in respect of the Merger and the proposed in specie dividend of Woodside ordinary shares (Woodside Shares) to BHP shareholders. [3] 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. Stay in touch with the latest news, stories and insights from BHP. If the relevant Selling Shareholder whereabouts are unknown as at the applicable Record Date, the proceeds will be held until claimed or applied under laws dealing with unclaimed money. you hold a "non-portfolio interest" in Woodside. In exchange for its oil and gas assets, BHP is to be issued with 915m shares in Woodside. Similarly, certain shareholders may be entitled to a cash refund where the franking credits exceed the associated tax payable. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. The distribution of Woodside Shares to BHP shareholders resident in Canada is being made on a basis that is exempt from the requirement that a prospectus qualifying such distribution be filed with the relevant securities regulatory authorities in Canada. Canada: Woodside is not, and does not intend to become, a reporting issuer in Canada. Our advisers are qualified and experienced and we don't outsource. On the upside, a person earning less than $45,000 would receive a refund of imputation credits. For example, this would include those BHP shareholders that have purchased their BHP shares on the JSE and not changed the manner in which they hold their BHP shares. It is addressed only to the shareholders of BHP in connection with the proposed in specie dividend and participation in the Sale Facility. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial markets, conditions in various countries, approvals and cost estimates. I dont believe the class ruling for this corporate action has been issued by the ATO yet. Vill du ge oss synpunkter eller frbttringsfrslag r du alltid vlkommen att kontakta oss antingen p plats eller via e-post. 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. Important additional information and where to find it. Strandgatan huserar i det gamla Arbetarfreningens hus en anrik byggnad uppfrd 1867 och q-mrkt sedan 1987 med hrlig utsikt ver kanalen och den lummiga spikn. Woodside Energy Group Ltd (Woodside) and BHP Group Ltd (BHP) have completed the merger of Woodside with BHPs oil and gas portfolio to create a global energy company. Allt lagas av oss och baseras p Strandgatans egna recept. are subject to the "taxation of financial arrangements" provisions in Division 230 of the Income Tax Assessment Act 1997 (Cth). There will be no impact to the existing tax cost base of BHP shares for Australian shareholders as a result of the merger. In order to make separate elections, the trustee or nominee must establish distinct holdings by 5:00pm on 24 May (AEST) on the BHP Australian principal share register or by 6:00pm on 26 May (BST) on the BHP DI register in respect of each parcel of BHP shares or DIs and must make a separate election in respect of each such parcel of BHP shares or DIs. Under US federal income tax laws, if you are a US Holder. Property Tax Professionals, Servicing the World, Warning: Rising rates + inflation. Vr vision r enkel. BHP DI holders holding through the BHP CSN Facility will be treated as eligible to participate. The in specie dividend is scheduled to be paid on 1 June 2022 and will be fully franked. BHP is expected to receive 914.8 million newly issued Woodside Shares at completion and determine a fully franked in specie dividend of the Woodside Shares to BHP shareholders. The Corporate Action does nothing to address the In Specie div. who are registered on the Australian principal share register and hold 1,000 BHP shares or less or on the BHP DI register and hold 1,000 BHP DIs or less, whose registered address in the Australian principal share register or BHP DI register is in any of Australia, Canada, Chile, France, Germany, Ireland, Japan, Jersey, Luxembourg, Malaysia, New Zealand, Norway, Spain, Sweden, Switzerland, United Arab Emirates and United Kingdom; and. This means that once you satisfy the "holding period rule" in relation to a distribution on your BHP shares you do not need to satisfy it again in relation to those BHP shares for subsequent distributions, unless you make a "related payment" (refer below); and. Important information: Any advice and information in this publication is of a general nature only. This announcement contains forward-looking statements. Summary of the merger. 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. The Woodside disclosure documents described in this announcement have been issued by, and are the responsibility of, Woodside other than to the extent that another party has positively and expressly accepted responsibility for information in such documents. Employees who continue to be employed by BHP will not receive the in specie dividend in respect of any unvested equity award or matching entitlement, and the value of the underlying BHP share to which they will receive on vesting will be reduced as a result of the in specie dividend that has been determined. OJW Ex>O1HN$v#b a"0 bXk *(\*4)ZMD8nGRT6BD6Rtx:- b87!ZN@$7xOfD"`Q &n a` BU9g#@o*s0T|. contact name and telephone number in the shared note field. This is long term, so the tax rate is the same as a dividend. What happens to BHP employees who currently participate in equity incentive plans? Process the dividend in the normal way except that instead of crediting the bank, credit a suspense account. r du hungrig r kket redo fr dig. Discussion in 'Shares & Funds' started by B Tilly, 6th Jun, 2022. Christine, A more fundamental question from me. These laws may change, possibly retroactively, and any change could affect the continuing validity of this discussion. Members of a couple may transfer money to super, or to each other, without facing any deprivation rules. Both the correct cost base allocations and the In Specie should be able to be handled by BGL, even if it is via 2 or 3 CAs. Furthermore, this summary does not address all US federal income tax considerations that may be relevant to certain categories of US Holders that may be subject to special treatment under the US federal income tax laws, will not be treated as a Passive Foreign Investment Company (, the determination of whether a foreign corporation is a PFIC is primarily factual and there is little administrative or judicial authority on which to rely to make such a determination, the United States Internal Revenue Service (. This includes the Computershare South Africa CSDP service. The closing price of Woodside To treat BHP employees fairly and restore the value of the unvested equity awards to their pre-completion value, BHP will grant those employees with additional BHP equity awards on the same substantive terms as the original unvested incentive awards or matching entitlements. Thinking about your next career move? You should therefore ensure all necessary actions are taken by you (or by your CREST sponsor) to ensure a TTE instruction relating to the sale of the Dividend Entitlement settles prior to 1:00pm (BST) on 31 May 2022. Nothing in this document constitutes investment, legal, accounting, or tax advice or a representation that any investment or strategy is suitable or appropriate to your individual circumstances or otherwise constitutes a personal recommendation to you. 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). The Sale Facility is only available to BHP DI holders who meet the Small Shareholder Threshold. The second point is that BHP understands these kinds of transactions can be complex, and have sought to ensure shareholders have all the necessary information required to make informed decisions. Any idea of where to go from here? Unlike Woodside shareholders, BHP shareholders arent being asked to approve the merger. wyf;RA]S1TG/l]d2hy]"^&m6BI}C/ Paul Rickard is a co-founder of the Switzer Report. The exact size of the dividend will be determined by the closing price of Woodside shares on the ASX on 31 May, the day before the completion date and the distribution of the shares. This document has not been registered as a prospectus with the Monetary Authority of Singapore. Powered by Discourse, best viewed with JavaScript enabled. All shareholders and ADS holders of BHP Billiton, including those resident in other jurisdictions not mentioned below, should review Section 8 of the Shareholder Circular and consult with We do this through our strategy to deliver long-term value and returns through the cycle. Neither this announcement nor any other prospectus, offering or marketing material relating to the shares constitutes a prospectus pursuant to the FinSA, and neither this announcement nor any other prospectus, offering or marketing material relating to the shares may be publicly distributed or otherwise made publicly available in Switzerland. 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). Is fully franked, with franking credits of $ 2.48 per share attached to ``! The company 's shareholders vote in favour of the in specie dividend to be remitted to BHP shareholder who 1,000... 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