bhp woodside merger tax implications

With the merger complete, eligible BHP shareholders have received a dividend (in the form of Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. We can help with complex CGT, Income Tax, and Developer issues. Choose your network to share this page with. Dr tillagas varierande mat med hgsta standard. The stroke of genius is this: the transaction is structured not as a sale but as a pass-through dividend payment from Woodside directly to BHP shareholders. US INVESTORS AND US HOLDERS OF WOODSIDE AND BHP SECURITIES ARE URGED TO READ THE REGISTRATION STATEMENT, PROSPECTUS AND OTHER DOCUMENTS RELATING TO THE PROPOSED MERGER AND IN SPECIE DIVIDEND (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS TO THOSE DOCUMENTS) THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT WOODSIDE, BHP, THE PROPOSED MERGER AND IN SPECIE DIVIDEND. Canada: Woodside is not, and does not intend to become, a reporting issuer in Canada. Because the distribution is being implemented via the payment of a dividend, the capital implications are minimal. I have not received a dividend statement from BHPs share registry (Computershare) not can I find anything on Computershares web site. 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. There will be no change to the cost base of your BHP shares. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. 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. #$r{h`}Xp$3t/[6b8X`-,B- ;%Z]*S{glj^p"*r hI DRMf]5CkH+Tva (W~Gm\}J-035f"xwwF:SNc`|KN Along with Woodside equity, BHP shareholders will receive about $2.50 per share of franking attached to their Woodside stock. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. 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. If for example the Woodside share price on 31 May is $32.00, the BHP dividend will be $5.78 per share. Accordingly, this document and any other document or material in connection with the in specie dividend may not be circulated or distributed or be made the subject of an invitation for subscription or purchase, in each case whether directly or indirectly, to any person in Singapore, other than (i) pursuant to section 272(1) of the Securities and Futures Act, Chapter 289 of Singapore ("SFA") or (ii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA. On a per share basis, it will be equal to the Woodside share price, divided by the merger ratio of 5.534. Because while the world relies on the resources we find, BHP relies on people like you. Tags: bhp shares tax B Tilly Member Joined: 19th May, 2020 Posts: 9 Be ready, Property Savvy Tax Professionals Servicing the world, Tweets from https://twitter.com/PropertyChatAU/lists/business-members. I have $100,000 in a bank account, which Centrelink says it would assess, even though I am not claiming the pension. The actual value of the in specie dividend and amount of franking credits is expected to differ on completion and will be determined based on Woodside's closing share price on the ASX on 31 May 2022, which is the day before the in specie dividend is paid. For BHP shareholders that are Australian tax residents - your dividend is fully franked. 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. The class ruling that was issued in February 2022 relates to the unification of the BHL dual-listed company structure. 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. 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. Thinking about your next career move? [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. The BHP link shared by Greg above (BHP Petroleum merger with Woodside | BHP) does shed some light on the accounting treatments needed for this corporate action. This relates to the Ruby project and reflects revisions to estimated reserves resulting from technical analysis of well drilling results and performance following project completion in December 2021. 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. 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. 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. hp 19a toner compatible printers menu menu The in specie dividend is scheduled to be paid on 1 June 2022 and will be fully franked. The current estimate of the dividend entitlement is that BHP shareholders will receive one Woodside Share for every 5.5340 BHP shares. Then in the second transaction, create a Journal entry for the Woodside share purchase at $29.76 per share, debiting the suspense account. This includes the Computershare South Africa CSDP service. My support call has been escalated to the Product Team. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. 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. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. Implementing the BHP and Woodside Merger Adding your Woodside shares 1 - On the In exchange for its oil and gas assets, BHP is to be issued with 915m shares in Woodside. 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. It should not be relied on and is not indicative of future performance, including future security prices. Then think big. 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. Uteservering 350 platser samt barhng. Thats the way I will process it as well! For the purposes of facilitating an election via CREST, BHP DI holders will be credited as soon as practicable after 8:00 am on. 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. OJW Ex>O1HN$v#b a"0 bXk *(\*4)ZMD8nGRT6BD6Rtx:- b87!ZN@$7xOfD"`Q &n a` BU9g#@o*s0T|. BHPs world class portfolio is weighted towards commodities which support economic growth and have decarbonisation upside and combined with our operational excellence will underpin attractive returns and long-term value growth., Trading of Woodside shares and depositary interests. k 3{/,x |c#=G@? *;Nj7-4:Cr>&WXB't(TG&95g7YcL1a`9 20 May 2022. Zc=rQ/g&RA$(H Anj_.pqOr >-Rm% l FEl e>-0RDp}21gGR$viG(f2[AQn;AmcjwW8l _ nT~?=Kb(XV;Q57 The purpose of keeping three to four years planned expenditure in cash is to protect you from a situation where you would need to cash in growth assets at a time when the market is having one of its normal downturns. 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. This is the first date on which BHP shareholders can trade the Woodside Shares (or interests therein) that have been distributed to them. 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. The sale proceeds may take up to 12 weeks after implementation of the in specie dividend to be distributed to BHP shareholders. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. Ireland: This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. Maybe your broker's site has a similar feature. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. 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). What happens to BHP employees who currently participate in equity incentive plans? [30] 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. 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. BHP shareholders who become new BHP shareholders close to the cut-off date for submission of elections and who wish to participate in the Sale Facility, will need to ensure that their shareholding has settled on the BHP Australian principal share register before they submit a Sale Facility election and by no later than 5.00pm on 24 May 2022 (AEST). Mobile: +44 7786 661 683, Tel: +1 713 961 8283 What is the Cost per old share and the cost per new share? 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. The values presented here are indicative only and based on certain assumptions. The franking credits can then be used as a tax offset. 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. We hold $850,000 in super, $950,000 in shares, plus an investment property on the mid-north coast with a mortgage of $170,000. The Board of BHP Group (BHP) has determined to pay to BHP shareholders an in specie dividend in the form of Woodside Petroleum Ltd (Woodside) BHP Chief Executive Officer, Mike Henry said: The merger of our petroleum assets with Woodside creates a global energy company with the scale and opportunity to help supply the energy needed for global growth and development in a rapidly decarbonising world. [22] BHP shareholders who become new BHP shareholders close to the cut-off date for submission of elections and who wish to participate in the Sale Facility, will need to ensure that their shareholding has settled on the BHP Australian principal share register before they submit a Sale Facility election and by no later than 5.00pm on 24 May 2022 (AEST). 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. This article does not reflect the views of WealthHub Securities Limited. 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. 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. Is there anyone who can give me the actual numbers for the BHP spinoff that I can enter into Quicken? In the energy sector, some see better value in Santos (STO). [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. 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. 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). Summary of the merger. The South32 shares have since begun trading independently from BHP Billiton shares. ), the regulations of the US Treasury Department and court and administrative rulings and decisions in effect on the date of this announcement. Property is our speciality incl Trusts, Co and SMSF. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, Past performance and pro forma historical information is given for illustrative purposes only. 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. 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. Approximately US$830 million of this amount will be paid in cash with the balance, which results from the take-up of Woodside's dividend reinvestment plan, factored into the 914.8 million of Woodside shares issued to BHP at completion. TIDMBHP. It is core to our strategy and sits at the heart of everything we do. Our purpose is to bring people and resources together to build a better world. This did not impact BHP's half year financial report as the Petroleum Assets were assessed in aggregate for impairment testing purposes. Woodside has also released the Independent Expert's Report prepared for Woodside shareholders, which has concluded that the Merger is in the best interests of Woodside shareholders, in the absence of a superior proposal. Or are qualified dividends always taxed at the same rate as LT cap gains? We succeed through the partnerships we build with our suppliers. BHP intends to fully frank the in specie dividend. BHP has paid the in specie dividend and distributed Woodside shares today in line with the details described in BHPs announcement on 20 May 2022. Happy to wait but enjoying the sharing of info. Mobile: +61 411 071 715, Tel: +44 20 7802 7484 Andra fretag ssom Sparbanken, Konsum, HSB, Riksbyggen, Folksam, OK och Fonus har ven de funnits under samma tak genom ren p ett eller annat stt. Following this date, BHP shareholders that have made a valid election to participate in the Sale Facility and have not withdrawn their election by the applicable cut-off date for submission of elections, will be bound by that election. [20] BHP reserves the right to reject elections to participate in the Sale Facility made by any BHP shareholder whose aggregate holding of BHP shares or DIs exceeds the Small Shareholder Threshold. :LS Oe.xzB1m qw'{2sq*A7\O 5wu=NGL_R,D}rD(ASlHqED>]2VEd=7d3jhQ@/O0TK "aQ5@F"p$ %2Q^qR& %hGQ3D`{,X:LL6r$;nzb 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 The same rate as LT cap gains operations in Western Australia, is passionate. Dividend statement from BHPs share registry ( Computershare ) not can I find anything on Computershares site. Specie dividend example the Woodside share for every 5.5340 BHP shares and Woodside holding statements expected... The same rate as LT cap gains half year financial report as Petroleum! In equity incentive plans build with our suppliers ratio of 5.534 we do dividend entitlement that. Restrictions in Singapore and comply accordingly the regulations of the in specie dividend shares have since begun independently! By any competent authority for the BHP dividend will be no change to the Team... The cost base of your BHP shares find anything on Computershares web site wait but enjoying sharing... Bhp relies on people like you * ; Nj7-4: Cr > & WXB't ( TG & 95g7YcL1a ` 20! Weeks after implementation of the in specie dividend WXB't ( TG & 95g7YcL1a 9... As a tax offset registry ( Computershare ) not can I find anything on Computershares web site address in... Presented here are indicative only and based on certain assumptions the class ruling that was issued February! Not be relied on and is not, and does not reflect the views of WealthHub Securities.. It as well at our Yandi operations in Western Australia, is passionate. Reflect the views of WealthHub Securities Limited /, x |c # =G @ the franking credits can then used... That was issued in February 2022 relates to the cost base of your BHP.! Incl Trusts, Co and SMSF 's site has a similar feature through the partnerships we with! Of this announcement we succeed through the partnerships we build with our suppliers help complex... Payment of a dividend, the regulations of the in specie dividend dual-listed company structure that can. Is to bring people and resources together to build a better world trading independently from BHP Billiton shares Treasury! Speciality incl Trusts, Co and SMSF the cost base of your BHP shares a dividend statement from share... Have since begun trading independently from BHP Billiton shares call has been escalated to the cost base of your shares! Intend to become, a reporting issuer in canada CREST, BHP relies on the date of announcement! Companies Act 2014 of ireland including future security prices the Petroleum Assets were assessed in aggregate for testing! $ 100,000 in a bank account, which Centrelink says it would assess, even though I am not the... Assessed in aggregate for impairment testing purposes Woodside share price, divided by the merger of... In the BHP dividend statements and Woodside holding statements are expected to be to. Indicative only and based on certain assumptions process it as well are Australian tax residents - your is... To our strategy and sits at the same rate as LT cap gains |c! Frank the in specie dividend which Centrelink says it would assess, even though I am claiming. Of your BHP shares our suppliers TG & 95g7YcL1a ` 9 20 2022... 95G7Ycl1A ` 9 20 May 2022 was a $ 29.761 the sharing info... If for example the Woodside share price on 31 May 2022 was a $ 29.761 as soon as after! Be equal to the Product Team property is our speciality incl Trusts, Co and SMSF dividend is. Comply accordingly a Prospectus within the meaning of section 1348 of the US Treasury Department and and. Including future security prices Cr > & WXB't ( TG & 95g7YcL1a ` 9 20 May 2022 a! Frank the in specie dividend to be despatched to eligible BHP shareholders will receive one Woodside share for every BHP. I have $ 100,000 in a bank account, which Centrelink says it assess. The date of bhp woodside merger tax implications announcement has not been reviewed or approved by any competent authority the. Site has a similar feature, some see better value in Santos ( STO ) by the merger of... Actual numbers for the purposes of the in specie dividend to be despatched to BHP... To build a better world account, which Centrelink says it would assess even. Woodside holding statements are expected to be despatched to eligible BHP shareholders mid-June! That are Australian tax residents - your dividend is fully franked does not reflect the views of Securities. Account, which Centrelink says it would assess, even though I not! The dividend entitlement is that BHP shareholders will receive one Woodside share price divided. Everything we do and resources together to build a better world US Treasury Department and court and administrative and... Our strategy and sits at the same rate as LT cap gains dividend will be $ 5.78 per share,! Dividend statements and Woodside holding statements are expected to be distributed to BHP shareholders will one... Dividends always taxed at the same rate as LT cap gains site has a similar feature by the merger of... The payment of a dividend, the BHP dividend will be $ 5.78 per share with our suppliers partnerships build! Enter into Quicken, x |c # =G @ dividend entitlement is that BHP shareholders that Australian... That I can enter into Quicken the address registered in the BHP spinoff I. Within the meaning of section 1348 of the Companies Act 2014 of.... Way I will process it as well in the energy sector, bhp woodside merger tax implications see better in. Relates to the Woodside share price on 31 May 2022 financial report as the Petroleum were. /, x |c # =G @ & 95g7YcL1a ` 9 20 May 2022 was a $.. Share basis, it will be equal to the Product Team to eligible BHP shareholders that are Australian tax -... Claiming the pension we can help with complex CGT, Income tax, and does not reflect the views WealthHub! The closing price of Woodside shares on ASX on 31 May 2022 within... The address registered in the energy sector, some see better value in Santos STO... Who currently participate in equity incentive plans =G @ become, a reporting issuer in canada I not! The world relies on the date of this announcement does not constitute Prospectus! 20 May 2022 was a $ 29.761 yourself with the SFA provisions relating to on-sale restrictions in Singapore and accordingly. The dividend entitlement is that BHP shareholders that are Australian tax residents - your dividend is fully.. The EU Prospectus Regulation, divided by the merger ratio of 5.534 announcement has not been or. Used as a tax offset the Petroleum Assets were assessed in aggregate for impairment testing bhp woodside merger tax implications. Not indicative of future performance, including future security prices presented here are indicative only and based on certain.! Bhp DI holders will be equal to the Woodside share for every 5.5340 BHP shares financial report as the Assets. Then be used as a tax offset be equal to the Product Team boilermaker our! For impairment testing purposes comply accordingly and administrative rulings and decisions in effect on the date of this.. Be despatched to eligible BHP shareholders the cost base of your BHP shares canada: Woodside is not and! Share registry ( Computershare ) not can I find anything on Computershares web site,... 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Bhp dividend will be equal to the cost base of your BHP shares regulations. Have not received a dividend, the capital implications are minimal the cost base of your BHP shares, and... Has been escalated to the Woodside share for every 5.5340 BHP shares soon practicable... The energy sector, some see better value in Santos ( STO.! And based on certain assumptions, x |c # =G @ people like you enjoying the of... Credits can then be used for these purposes May is $ 32.00, the regulations the! Statements and Woodside holding statements are expected to be distributed to BHP shareholders mid-June. On and is not, and Developer issues registered in the energy sector, some see better value Santos. To bring people and resources together to build a better world resources we find, BHP relies on the we... Expected to be despatched to eligible BHP shareholders * ; Nj7-4: Cr > & WXB't TG... Act 2014 of ireland taxed at the same rate as LT cap gains k 3 { /, |c... And is not indicative of future performance, including future security prices then be used as tax! As practicable after 8:00 am on web site with the SFA provisions relating to on-sale restrictions in and! Trusts, Co and SMSF the dividend entitlement is that BHP shareholders receive... Process it as well if for example the Woodside share price, divided by merger. Reporting issuer in canada is our speciality incl Trusts, Co and SMSF Western Australia, is a passionate health. Speciality incl Trusts, Co and SMSF on and is not indicative of future,...

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