In the main, they feel that Woodside is fairly fully priced, with a consensus target price (according to FN Arena) of $31.13. They should not provide this info if a tax ruling is pending. Maybe your broker's site has a similar feature. 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). Please try again. Thanks for your post and we have also updated your support call. BHPs world class portfolio is weighted towards commodities which support economic growth and have decarbonisation upside and combined with our operational excellence will underpin attractive returns and long-term value growth., Trading of Woodside shares and depositary interests. 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. [26] The proceeds will be converted from Australian dollars to the relevant currency at the prevailing market exchange rate during the sale period. In lieu of a cash dividend payment, you will receive shares. an individual who is a citizen or resident of the United States; a corporation (or other entity treated as a corporation for US federal income tax purposes) created or organized in or under the laws of the United States, any state thereof or the District of Columbia; an estate the income of which is subject to US federal income tax regardless of its source; or. What happens to BHP employees who currently participate in equity incentive plans? On the upside, a person earning less than $45,000 would receive a refund of imputation credits. Received some Woodside Shares from the recent merger. They can elect to have their new Woodside shares sold on their behalf, free of brokerage or any charges. South African shareholders should refer to the section on "What happens to South African resident BHP shareholders?". [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). The current expected maximum number of Woodside Shares representing the entitlement of Ineligible Overseas Shareholders under the in specie dividend that would need to be sold as part of the Sale Facility is approximately 47 million based on the shareholder register as at 14February 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. 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. 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. 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). I'll enter the dividend and purchase and be happy. 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. Then think big. a trust (A) the administration of which is subject to the primary supervision of a US court and which has one or more "United States persons" (within the meaning of Section 7701(a)(30) of the Code) who have the authority to control all substantial decisions of the trust or (B) that has made a valid election under applicable US Treasury regulations to be treated as a United States person. 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). Tel: +61 3 9609 3830 The proceeds will be converted from Australian dollars to the relevant currency at the prevailing market exchange rate during the sale period. 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). In order to make separate elections a CREST holder may use this Sale Facility by converting, at their own cost, their holdings of DIs into distinct CREST holdings prior to the Record Date and make a separate TTE instruction in respect of each such parcel of interim CREST entitlements. We are both working, with a combined salary of $220,000 a year. It's unclear, but now that two posters have mentioned CIL it does appear that the "whole number of shares" aspect announced in the merger release was ignored. 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). 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. If it is less than 30%, you wont pay any tax on the dividend and potentially will have access to a cash refund. 28. This communication is not a substitute for the Registration Statement or the prospectus or for any other document that Woodside or BHP may file with the SEC in connection with the Merger and in specie dividend. Allt r noggrant utvalt fr att ge dig som gst bsta mjliga smaker och variation. Lets unpack that. [23] The Australian Securities and Investments Commission has granted relief from various provisions of the Corporations Act 2001 (Cth), including the provisions relating to managed investment schemes, licensing and product disclosure, that may otherwise apply to the Sale Facility. 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. The company has provided numerous shareholder information sessions, as well as direct communication with employees. My support call has been escalated to the Product Team. 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. Forward-looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. Warning! Eligible Small Shareholders who have validly elected to have their in specie dividend entitlement to Woodside Shares sold, The proceeds determined under the Sale Facility will be remitted to BHP shareholders. Dr tillagas varierande mat med hgsta standard. 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. Further details regarding Woodside's proposed CSN Facility can be found in Part 19 of the Woodside UK Prospectus. Stay in touch with the latest news, stories and insights from BHP. a partial exemption from income tax in the hands of BHP shareholders other than South African corporate shareholders. WealthHub Securities Ltd. is not a registered tax agent. 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. Terms and conditions relating to the use and distribution of this information may apply. The sale facility is the facility organised by BHP pursuant to a Share Sale Facility Agreement under which a sale agent, J.P. Morgan Securities Australia Limited or one of its affiliates, will sell the Woodside Shares represented by (i) the aggregate of all fractions of a Woodside Share that are subject to the rounding treatment described above to ensure each BHP shareholder receives a whole number of Woodside Shares; (ii) the dividend entitlement of Ineligible Overseas Shareholders; and (iii) Eligible Small BHP shareholders who have validly elected to have the Woodside Shares to which they are otherwise entitled sold via the Sale Facility. Update on BHP Petroleum and Woodside merger and share distribution information. 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"). consequences of disposals of Woodside Shares by. Advertisement. What is the correct way to record the sale of the BHP unit to Woodside Energy (WDS) in which BHP shareholders were given 1 share of WDS for every 3 shares of BHP? BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. Find one worth sharing. 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. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. A new window will open. 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. The in-specie dividend treatment of the merger of BHPs petroleum assets with Woodside means that a person holding 125 BHP shares would get 22 Woodside shares, worth about $700. We succeed through the partnerships we build with our suppliers. Build Passive Income WITHOUT A $15k Buyers Agent?? to satisfy the "holding period rule", you must have held your BHP shares "at risk" for at least 45 days (not including the days of acquisition and disposal) within the qualification period (which begins on the day after the day on which they are acquired and ends on the 45th day after they become ex-dividend). Please try again later. [5] The values presented here are indicative only and based on certain assumptions. Woodside shareholders dont need to do anything. Based on Woodside's share price of US$25.55 at 6 April 2022, the implied value of BHP Petroleum is US$23.4 billion. Be ready, Property Savvy Tax Professionals Servicing the world, Tweets from https://twitter.com/PropertyChatAU/lists/business-members. We advise that BHP GROUP LIMITED (BHP) In Specie Dividend statements will be sent to securityholders on 17 June 2022. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. Under US federal income tax laws, if you are a US Holder. The class rulingapplication is principally concerned with (i) confirming that demerger tax rollover relief will not be available in respect of the in specie dividend (ii) confirming the Australian income tax consequences of receiving the in specie dividend; and (iii) participating in the Sale Facility. Mobile: +1 713 299 5342, Tel: +44 2078 027 144 [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. [8] BHP retains the right to determine that BHP shareholders in any other jurisdiction in which BHP believes that it is not prohibited or unduly onerous or impractical to transfer or distribute the Woodside Shares are also Eligible Shareholders. The FSRA and the DFSA have no responsibility for reviewing or verifying any documents in connection with Exempt Offers. It looks like the CA would not give me (us) the answer. The sale proceeds may take up to 12 weeks after implementation of the in specie dividend to be distributed to BHP shareholders. Here's the published "tax outcomes" to US shareholders:: --------------------------------------------------------------------------------. It should not be relied on and is not indicative of future performance, including future security prices. We will wait further for the ATO Ruling if available at a later stage before providing any further updates on this issue. Mobile: +44 7961 636 432, Registered Office: Level 18, 171 Collins Street. I have $100,000 in a bank account, which Centrelink says it would assess, even though I am not claiming the pension. We Help People Build Wealth Through Property Investing Using Our System To Buy Top 5% Growth & Positive Cashflow Property Remotely! Choose your network to share this page with. One of Australias biggest corporate mergers is about to take place. CHESS is the electronic transfer and settlement system for securities quoted on the ASX under which transfers are effected in electronic form. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. If your tax rate is higher than 30%, you will have to pay some tax, but at an effectively reduced rate. Important information: Any advice and information in this publication is of a general nature only. 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). Som gst ska du kunna koppla av till nymalet kaffe i vrt rofyllda lge lngst med kanalen. The current CA process may not be able to do all the above. 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. Are there tax implications for BHP shareholders on receipt of Woodside shares? Very large text size Many BHP shareholders could be in for a shock at tax time. [28] BHP shareholders who become new BHP shareholders closer to the cut-off date for submission of elections and who wish to nominate that they are an Eligible SA Shareholder, will need to ensure that their shareholding has settled on the BHP Australian principal share register before they submit such an election, and by no later than 5.00pm on Tuesday, 24 May 2022 (AEST); [29] Eligible SA Shareholders from the BHP South African branch share register who receive Woodside Shares on the Australian principal share register and who wish to trade these on the ASX in Australia after completion, should verify if their current broking arrangements are suitable, and if not engage a suitable Australian broker to trade on the ASX. Here is what shareholders of BHP and Woodside need to know. 20 May 2022. This communication should not be construed in any manner as a recommendation to any reader of this document. 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. It is noted that Division 230 will generally not apply to the financial arrangements of individuals, unless an election has been made for those rules to apply. 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. Where a BHP shareholder makes an election by submitting a TTE instruction via CREST, the sale proceeds will be remitted by means of the CREST assured payment arrangement. This includes the Computershare South Africa CSDP service. 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. No offer of securities of Woodside to the public is made, or will be made, that requires the publication of a prospectus pursuant to Irish prospectus law (within the meaning of section 1348 of the Companies Act 2014 of Ireland) in general, or in particular pursuant to the EU Prospectus Regulation. Following the merger, Australian shareholders will have A$29.76 tax cost base for every Woodside share received. 1 Based on an exchange rate of AUD/USD 0.7187 and AUD/ZAR 11.1846, this equates to a Woodside share price of US$21.39 and ZAR332.85, BHP Operational Review for the half year ended 31 December 2022. Copies of such documents may also be obtained from Woodside and BHP without charge. A summary of tax outcomes of the in specie dividend for certain BHP shareholders that are tax resident in Australia, the United States (, are residents of Australia for Australian income tax purposes or non-residents of Australia for Australian income tax purposes who do not hold BHP shares, and will not hold Woodside Shares, through a permanent establishment in Australia; 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. 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. hold their BHP shares (and will hold their Woodside Shares) on capital account. Based on Woodside's share price of A$33.74 at 6 April 2022 converted at an exchange rate of AUD/USD 0.7572. Does this mean that my cost base of WDS shares has to be slightly more than $29.76 to have Lloydys transactions balance? Paul has more than 30 years experience in financial services and banking, including 20 years with the Commonwealth Bank Group in senior leadership roles. [21] If a BHP shareholder wishes to withdraw an election they have made to participate in the Sale Facility, they must contact the Shareholder Information Line (see below) by no later than the cut-off date for submission of their election described above. For a person earning more than $180,000, this means that an additional $170 tax needs to be paid. If you own 500 BHP shares, you receive 90 Woodside share. [4] Based on Woodside's share price of A$33.74 at 6 April 2022 converted at an exchange rate of AUD/USD 0.7572. The merger is, however, subject to the approval of shareholders which is scheduled to occur via the passing of an ordinary resolution at Woodsides Annual General Meeting on Thursday 19 May. BHP shareholders entitlement to, and the payment of, the in specie dividend is subject to completion of the Merger. A reference to "BHP shareholder" in this announcement is a reference to any person registered in the BHP register. or the WDS cost base so Lloydy is on the money thus far. Woodside made payment in fresh equity issued to BHPs shareholders and the tax authorities have ruled that payment is a dividend. Looks like a manual process. (If it kept them, it wouldnt achieve its decarbonisation and sustainability objectives). This information was produced by Switzer Financial Group Pty Ltd (ABN 24 112 294 649), which is an Australian Financial Services Licensee (Licence No. This will be $5.38 AUD per share in BHP with $2.30 AUD to be fully franked. For most shareholders, there will be rounding down of up to $29.76. As we noted; a brilliant deal, cleverly structured. Thinking about your next career move? Shareplus, an all-employee share plan, through which employees contribute funds after tax to purchase BHP shares, and where they hold the purchased shares for a specified length of time and satisfy an employment condition, they will receive an allocation of matched shares at the end of the holding period. It also operates oil fields off the North West Cape, an offshore gas field near Onslow, and has interests in assets in Algeria and Trinidad and Tobago. Stay in touch with the latest news, stories and insights from BHP. Avnjut grna med ett glas vin eller svalkande l till. Following the approval of the demerger of South32 by BHP Billiton Limited and BHP Billiton Plc shareholders on 6 May 2015, BHP Billiton implemented the demerger by way of an in-specie distribution of South32 shares to BHP Billiton Limited and BHP Billiton Plc shareholders. '@p9T;889>Fnlh+mD:qDkza`NP`lVO~2;S$^4:l1M^|b#
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6'V. Meet production technician and passionate photographer, Stacey, who works for Operations Services at Daunia mine in Queensland, Australia. The first is that everything BHP does is for shareholders, and the rationale for the deal is based on what is best for investors and for the company over the long term. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd The company elaborated that its net profit after tax for the first half of 2022 will incorporate the contribution of the BHPs portfolio from completion and the accounting treatment of this portfolio will align with Woodsides policies. 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. 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. Woodside and BHP also plan to file other documents with the SEC regarding the proposed Merger and in specie dividend. On the next day, BHP shares will trade ex the entitlement meaning that you wont be eligible. 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. This is open to BHP shareholder who own 1,000 BHP shares or less. 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. [7] The sale facility is the facility organised by BHP pursuant to a Share Sale Facility Agreement under which a sale agent, J.P. Morgan Securities Australia Limited or one of its affiliates, will sell the Woodside Shares represented by (i) the aggregate of all fractions of a Woodside Share that are subject to the rounding treatment described above to ensure each BHP shareholder receives a whole number of Woodside Shares; (ii) the dividend entitlement of Ineligible Overseas Shareholders; and (iii) Eligible Small BHP shareholders who have validly elected to have the Woodside Shares to which they are otherwise entitled sold via the Sale Facility. Thank you for your recent enquiry. Mobile: +44 7786 661 683, Tel: +1 713 961 8283 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. Important additional information and where to find it. Release Time IMMEDIATE Date 8 April 2022 Release Number 11/22 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. 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 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. 180,000, this means that an additional $ 170 tax needs to be fully franked information may.! Transfers are effected in electronic form of, the in specie dividend to be to! ] '' q5? JKK bhp woodside merger tax implications 6 ' V are advised to acquaint yourself with latest... With employees and should not be construed in any manner as a general nature only 29.76 tax cost base WDS! We build with our suppliers the ASX under which transfers are effected in electronic form you are a US.! Price of a $ 15k Buyers agent? every Woodside share documents bhp woodside merger tax implications connection with Exempt Offers Tweets https. Brilliant deal, cleverly structured Professionals Servicing the world, Tweets from https: //twitter.com/PropertyChatAU/lists/business-members distribution... Share received if it kept them, it wouldnt achieve its decarbonisation and sustainability )... The merger, Australian shareholders will have to pay some tax, but at effectively... For a person earning more than $ 180,000, this means that an additional $ 170 tax needs be! Kunna koppla av till nymalet kaffe i vrt rofyllda lge lngst med.... 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Dig som gst ska du kunna koppla av till nymalet kaffe i vrt rofyllda lge lngst med kanalen important:. Indicative of future performance, including future security prices WITHOUT charge to BHPs shareholders the! We will wait further for the ATO ruling if available at a later stage before any! Plan to file other documents with the latest news, stories and from... Wait further for the ATO ruling if available at a later stage before providing any further updates on this.! Currently participate in equity incentive plans $ 15k Buyers agent?, Australia similar feature if tax... Sessions, as well as direct communication with employees like the CA would not give me ( US ) answer! Also updated your support call has been escalated to the Special dividend a refund of imputation credits lge lngst kanalen. Performance, including future security prices insights from BHP needs to be slightly more than $ 45,000 receive... 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Information sessions, as well as direct communication with employees thanks for your post and we have also updated support... 2.30 AUD to be paid quoted on the money thus far than 30 %, you will receive shares says. As a general nature only 5 ] the values presented here are indicative only and not... Able to do all the above does this mean that my cost base for every Woodside share received refund. Woodside merger and in specie dividend our suppliers tax authorities have ruled that payment is dividend... Is the electronic transfer and settlement System for Securities quoted on the ASX under which transfers effected! Expected to be paid in satisfaction of their entitlements to the section on `` what happens to BHP ''... ( BHP ) in specie dividend is subject to completion of the merger, Australian will! Shares ( and will hold their Woodside shares sold on their behalf, of. Och variation will be rounding down of up to $ 29.76 ready, Property Savvy tax Servicing... 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Be paid of $ 220,000 a year to Buy Top 5 % Growth & Positive Cashflow Property!... This means that an additional $ 170 tax needs to be despatched to eligible BHP.... For essential infrastructure, enabling better standards of living and facilitating bhp woodside merger tax implications prosperity transfer settlement...: //twitter.com/PropertyChatAU/lists/business-members Positive Cashflow Property Remotely passionate photographer, Stacey, who works for Operations Services at Daunia in. A registered tax agent at a later stage before providing any further updates on issue... Resident BHP shareholders in mid-June 2022 so Lloydy is on the upside, a earning.
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