bhp woodside merger tax implications

Woodside is not, and does not intend to become, a reporting issuer in Canada. 52% Woodside . The Sale Facility is only available to BHP DI holders who meet the Small Shareholder Threshold. 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. 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). The Woodside Shares forming the entitlement of BHP DI holders who are eligible to receive the Woodside Shares under the in specie dividend will be transferred to Computershare Clearing Pty Limited (or another custodian appointed by the depositary) as custodian for Computershare Investor Services PLC (acting as depositary), who will in turn issue dematerialised Woodside DIs representing the underlying Woodside Shares. Completion of the Merger is on track and is targeted for 1 June 2022, subject to satisfaction of conditions precedent including approval by Woodside shareholders. '_mqG"8atL~9#>3C>izcQYh'?>'"8jH|4+OsR}2=>EB@wa;Ass\{: 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). Many BHP shareholders could be in for a shock at tax time. Dr tillagas varierande mat med hgsta standard. The Woodside UK Prospectus is also expected to be submitted by Woodside to the UK National Storage Mechanism and available in due course at, In specie dividend of Woodside Shares to BHP shareholders, The dividend is expected to be paid on 1 June 2022 to each BHP shareholder on the BHP register, The rounding treatment in respect of shares held on behalf of BHP UK depositary interests (, The arrangements governing the American depositary shares (each representing two fully paid BHP shares) (, Based on Woodside's share price of US$25.55, However, there are certain jurisdictions where the distribution of Woodside Shares by BHP is difficult or not permitted. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. Because while the world relies on the resources we find, BHP relies on people like you. BHP has paid the in specie dividend and distributed Woodside shares today in line with the details described in BHPs announcement on 20 May 2022. Based on the assumptions described in this announcement, upon implementation, BHP ADS holders as of the Record Date for BHP ADS, which is expected to be 5:00pm on 26May 2022 (EDT), are expected to be entitled to receive approximately 0.3614 of a Woodside ADS in respect of each BHP ADS owned at that time (subject to payment of taxes and applicable fees and expenses of Citibank, N.A , acting as the depositary of each of the BHP and Woodside ADSs (the BHP ADS Depositary and the Woodside ADS Depositary, respectively)). Along with Woodside equity, BHP shareholders will receive about $2.50 per share of franking attached to their Woodside stock. 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 (. Terms and conditions relating to the use and distribution of this information may apply. This is not as simple as fixing rates, in fact fixing rates can be a major strategic error. Tags: bhp shares tax B Tilly Member Joined: 19th May, 2020 Posts: 9 Any participant in BHP employee share plans on the Record Date who are entitled to the distribution but whose addresses are shown in the employee share trust's or nominee's register on the Record Date as being in a jurisdiction outside of the jurisdictions described above will also be Ineligible Overseas Shareholders. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. The franking credits can generally be used to offset any tax payable on the dividend. This Sale Facility is described in further detail below. Join Australia's most dynamic and respected property investment community. Until the ATO ruling is issued, I dont think we can process this transaction yet. This is the first date on which BHP shareholders can trade the Woodside Shares (or interests therein) that have been distributed to them. BHP ADS holders will be treated as eligible to participate. Does the Corporate Action work in the sense that the demerger is an inspecie dividend with franking credits. 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. 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. 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. whose registered address in the BHP Australian principal share register on the applicable Record Date is in South Africa, will be an Ineligible Overseas Shareholder, unless the relevant shareholder nominates that they are an Eligible SA Shareholder by completing and returning to the BHP share registry before 5:00pm on Tuesday, 24 May 2022 (AEST) the South African Share Election Form. 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. as the Woodside Shares will not have been held for 12 months, the CGT discount should not be available. I am 62 and work part-time. As advised, we would wait for the ATO Ruling if available at a later stage before providing any further updates on this issue; If not, then we will ensure to have a help article ready for all users. This article does not reflect the views of WealthHub Securities Limited. I think it is great you are in no rush to retire because staying at work enables you to build up your super, and also gives the compounding effect more time to work its magic, as you wont be drawing down on your capital as early as you would be if you left work in the near future. should qualify for a tax offset equal to the amount of the franking credits attached to the in specie dividend, which can be applied against your income tax liability for the relevant income year. A new window will open. The FSRA and the DFSA have no responsibility for reviewing or verifying any documents in connection with Exempt Offers. Uteservering 350 platser samt barhng. Stay in touch with the latest news, stories and insights from BHP. Under US federal income tax laws, if you are a US Holder. If you are in any doubt in relation to this document or as to the action you should take, you should consult your stockbroker, bank manager, solicitor, accountant, tax adviser, or other professional adviser immediately. You may recognise a capital gain or loss for US federal income tax purposes equal to the difference between the US dollar value of the amount that you realise and your tax basis, determined in US dollars in respect of the disposal of your Woodside Shares or Woodside ADSs. For further information, please contact, Update on BHP Petroleum and Woodside merger and share distribution information, This announcement contains information relevant for BHP shareholders in respect of the Merger and the proposed in specie dividend of Woodside ordinary shares (. Doesnt look like BHPXF needs to be created. Which small BHP shareholders can participate in the Sale Facility? 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. 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. Woodside made payment in fresh equity issued to BHPs shareholders and the tax authorities have ruled that payment is a dividend. Allt r noggrant utvalt fr att ge dig som gst bsta mjliga smaker och variation. Does this mean that my cost base of WDS shares has to be slightly more than $29.76 to have Lloydys transactions balance? Highlights, BHP Operational Review for the half year ended 31 December 2022. 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. Implementing the BHP and Woodside Merger Adding your Woodside shares 1 - On the I just checked what my broker listed as the basis for the new shares. The distribution ratio is 1 Woodside share for every 5.534 BHP shares owned. Mark Taylor: I am aged 63, my wife is 60, and we are in no rush to retire. Investors are strongly cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and the significant uncertainty and disruption caused by the COVID-19 pandemic. This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. Update on BHP Petroleum and Woodside merger and share distribution information. Paul Rickard reviews Woodside Petroleums acquisition of BHPs oil and gas assets, and what this may mean for your portfolio. Following this date, BHP shareholders that have made a valid election to participate in the Sale Facility and have not withdrawn their election by the applicable cut-off date for submission of elections, will be bound by that election. This announcement contains forward-looking statements. recognition of a US$210 million impairment charge in the BHP Petroleum balance sheet in the pro forma financial information for the combined group. Accordingly, this document or any amendment or supplement hereto or any other document relating to this in specie dividend must not be distributed in Malaysia, directly or indirectly, for the purpose of any offer of any of the Consideration Shares and no person may offer or make available any of the Consideration Shares, directly or indirectly, to anyone in Malaysia. Here is what shareholders of BHP and Woodside need to know. Any participant in BHP employee share plans on the Record Date who are entitled to the distribution but whose addresses are shown in the employee share trust's or nominee's register on the Record Date as being in a jurisdiction outside of the jurisdictions described above will also be Ineligible Overseas Shareholders. Mobile: +44 7786 661 683, Tel: +1 713 961 8283 We can help with complex CGT, Income Tax, and Developer issues. 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? Any idea of where to go from here? 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. Pro forma equity ownership of . In this case, the fully franked dividend comes in the form of Woodside shares, which are performing particularly well right now. Step 1: Go to Transaction List and select Journal to record the Woodside shares and the In-Specie Dividends. 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. Paul Rickard is a co-founder of the Switzer Report. Menyn komponeras och kvalitetsskras av vr duktiga kock som i sin tur verfr kunskaperna till vrig kkspersonal. We succeed through the partnerships we build with our suppliers. If such a disposal is subject to Australian tax, US Holders should seek their own tax advice to determine the Australian and US taxation implications. Does the BHPXF investment need to be created? (I have sought a Support answer but this approach (Community) might be a quicker response.) [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. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. Following the merger, Australian shareholders will have A$29.76 tax cost base for every Woodside share received. Woodside said it would issue new shares to BHP shareholders in exchange for the mining giants petroleum business. Thank you to anyone who can answer this? They should not provide this info if a tax ruling is pending. The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. hp 19a toner compatible printers menu menu Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). , issuing new Woodside shares to BHP shareholders. 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. Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. Inneservering 75 platser 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. This did not impact BHP's half year financial report as the Petroleum Assets were assessed in aggregate for impairment testing purposes. 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. 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. In what form will BHP shareholders receive Woodside Shares? Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. Avnjut grna med ett glas vin eller svalkande l till. I hope that Corporate Action gives the same result! Are there tax implications for BHP shareholders on receipt of Woodside shares? The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. It should not be relied on and is not indicative of future performance, including future security prices. This includes the Computershare South Africa CSDP service. This document is being furnished to you on a confidential basis and solely for your information and may not be reproduced, disclosed, or distributed to any other person. RNS Number : 7719H. I have not received a dividend statement from BHPs share registry (Computershare) not can I find anything on Computershares web site. 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. At this valuation, the in specie dividend is approximately A$5.38 (US$3.86), with A$2.30 (US$1.66) of franking credits being distributed, per BHP share. [16] Further details regarding Woodside's proposed CSN Facility can be found in Part 19 of the Woodside UK Prospectus. 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. Great information flowing here. [25] The sale proceeds may take up to 12 weeks after implementation of the in specie dividend to be distributed to BHP shareholders. Woodside Energy Group Ltd (Woodside) and BHP Group Limited (BHP) have completed the merger of Woodside with BHPs oil and gas portfolio to create a global energy company. 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. You say it is best to keep three to four years in cash to pay for expenses, in case we have a downturn in the sharemarket, similar to what we are experiencing now. Then in the second transaction, create a Journal entry for the Woodside share purchase at $29.76 per share, debiting the suspense account. I have $100,000 in a bank account, which Centrelink says it would assess, even though I am not claiming the pension. 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 Has anyone else received the statement? 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. Superannuation, SMSF & Personal Insurance. I intend to follow Lloydys process. [11] This is also the last date on which BHP shareholders can reposition securities between the Australian principal share register, BHP DI register and BHP South African branch share register. It looks like the CA would not give me (us) the answer. Our shareholders will now have exposure to assets in two organisations, BHP and Woodside, each with a very clear focus, strategy and value proposition. Hydrocarbon Engineering , Wednesday, 01 June 2022 10:00. 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. Happy to wait but enjoying the sharing of info. Since these are "covered", they will have to report this information if/when the WDS shares are sold. Build Passive Income WITHOUT A $15k Buyers Agent?? The new Woodside Shares may not be publicly offered, directly or indirectly, in Switzerland within the meaning of the Swiss Financial Services Act ("FinSA") and no application has or will be made to admit the shares to trading on any trading venue (exchange or multilateral trading facility) in Switzerland. The South32 shares have since begun trading independently from BHP Billiton shares. 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.
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