3C>izcQYh'?>'"8jH|4+OsR}2=>EB@wa;Ass\{: 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. [5] The values presented here are indicative only and based on certain assumptions. {: di_ Many BHP shareholders could be in for a shock at tax time. 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. Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. A BHP spokesperson points out there are two key points to make relating to the merger. 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. Because the distribution is being implemented via the payment of a dividend, the capital implications are minimal. Sustainability is integral to how we contribute to social value creation. This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the Merger or otherwise, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. r du hungrig r kket redo fr dig. 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. Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. For a person earning more than $180,000, this means that an additional $170 tax needs to be paid. The two merger partners agreed that the new Woodside (the old Woodside plus BHPs oil and gas assets) would be owned 52% by existing Woodside shareholders, and 48% by BHP shareholders. Investors on both sides of the merger will retain their underlying shareholdings in each company. Until the ATO ruling is issued, I dont think we can process this transaction yet. It is core to our strategy and sits at the heart of everything we do. 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. Woodside Energy Group Ltd (WDS) is listed on the Australian Securities Exchange (ASX), with secondary listings on the 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. 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. With the merger complete, eligible BHP shareholders have received a dividend (in the form of Eligible Small Shareholders that wish to participate in the Sale Facility should: if they hold their BHP shares on the BHP Australian principal share register, submit their Sale Facility election online at www.bhppetroleumsharefacility.com.au or return a physical Sale Facility Election Form to BHP's share registry by no later than 5:00pm on 24 May 2022 (AEST). you hold a "non-portfolio interest" in Woodside. Email: noel@noelwhittaker.com.au, Merger deal may come with nasty tax surprise. 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. Know the non-concessional contributions cap? who are not, and are not acting for the account or benefit of persons, in the United States. I intend to follow Lloydys process. 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. Sustainability is integral to how we contribute to social value creation. 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. 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. Tel: +61 3 9609 3830 shareholders reflective of assets contributed. Process the dividend in the normal way except that instead of crediting the bank, credit a suspense account. 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. 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. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). Or are qualified dividends always taxed at the same rate as LT cap gains? Implementing the BHP and Woodside Merger Adding your Woodside shares 1 - On the The closing price of Woodside 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. Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. 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 document does not constitute investment advice or the provision of investment services within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. Are there tax implications for BHP shareholders on receipt of Woodside shares. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. Find one worth sharing. Please try again later. 28. A little more information I gleaned last night because it is not a sale I do not thinkthere will be an ATO ruling could be wrong but 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). and. [26] The proceeds will be converted from Australian dollars to the relevant currency at the prevailing market exchange rate during the sale period. For shareholders on the South African branch share register, if you do not communicate to your CSDP that you are an Eligible SA Shareholder (as defined below), you will be assumed to be ineligible. 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. Stay in touch with the latest news, stories and insights from BHP. Can be up to $29.75 difference. 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. 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. Some functionality will be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance. This is long term, so the tax rate is the same as a dividend. 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. 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. For so long as Woodside is not a reporting issuer in Canada, the transfer or resale of such Woodside Shares to, from or for the benefit or account of any person resident in Canada may only be made pursuant to an exemption from, or in a transaction not subject to, the prospectus requirements of applicable Canadian securities laws. Thank you to anyone who can answer this? We do this through our strategy to deliver long-term value and returns through the cycle. Switzerland: 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. Choose your network to share this page with. Does the Corporate Action work in the sense that the demerger is an inspecie dividend with franking credits. 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. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. [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. BHP ADS holders will be treated as eligible to participate. Thanks guys. 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. 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 Thats the way I will process it as well! BHP Group ( BHP) and Woodside Petroleum Ltd ( Woodside) entered into a share sale agreement ( SSA) for the merger of BHPs oil and gas portfolio This document has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. On 22 November 2021, BHP and Woodside announced they had entered into a binding share sale agreement under which Woodside would acquire the entire share capital of BHP 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. Accordingly, no part of the in specie dividend should be assessable to you in Australia nor subject to dividend withholding tax (, an exemption from income tax in the hands of BHP shareholders who constitute South African corporate shareholders on the basis that the BHP shares in respect of which the foreign dividend is paid are listed on the JSE; and. South African shareholders should refer to the section on "What happens to South African resident BHP shareholders?". Would this be regarded as a deprived asset? 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. recognition of a US$210 million impairment charge in the BHP Petroleum balance sheet in the pro forma financial information for the combined group. On May 19th, 2022, Woodside (WDS:ASX) announced that it had approved to be acquired by BHP Group Ltd (BHP:ASX) effective by June 1st, 2022. This is my intended approach. What happens to South African resident BHP shareholders? 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. This did not impact BHP's half year financial report as the Petroleum Assets were assessed in aggregate for impairment testing purposes. This reflects the net cash flows generated by BHP Petroleum, less cash dividends paid by Woodside to BHP, between the Merger effective date of 1 July 2021 and completion. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. 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. I'm joined by Morningstar's Mat Hodge and Mark Taylor to discuss. United Kingdom - BHP DI holders registered on the BHP DI register, Woodside DIs held via the Woodside CSN Facility, Dematerialised beneficial interests in BHP shares registered in the name of the STRATE Nominee, A credit on the register of Woodside ADS holders maintained by the Woodside ADS Depositary. 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. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. BHP shareholders are expected to be entitled to one Woodside Share for every 5.5340BHP shares they hold on the Record Date. 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. Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. It is not intended to be a substitute for specialised taxation advice or an assessment of an individuals liabilities, obligations or claim entitlements that arises, or could arise, under taxation law, and we recommend that you consult a registered tax agent. Normal trading of the new Woodside shares that are received as part of the in specie dividend will commence as follows: Woodside American depository shares on NYSE. If you originally purchased your BHP shares (for say) $30.00, then after the merger, your cost base is still $30.00. I'll enter the dividend and purchase and be happy. .BHP has applied to the Commissioner of Taxation (Commissioner) for a class ruling confirming certain income tax implications of the implementation of the Merger for certain Eligible Shareholders. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. Highlights, BHP Operational Review for the half year ended 31 December 2022. Build Passive Income WITHOUT A $15k Buyers Agent?? Our purpose is to bring people and resources together to build a better world. 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. 52% Woodside . Happy to wait but enjoying the sharing of info. I also received $6.62 in lieu of fractional shares that I need to enter. approval by Woodside shareholders at the Woodside general meeting scheduled for 19May2022; KPMG Corporate Finance (in its capacity as Woodside's independent expert) not changing its conclusion that the Merger is in the best interests of Woodside's shareholders; and, approval by the National Offshore Petroleum Titles Administrator (, United States registration statement under the US Securities Act of 1933 (, These documents include information on the Woodside Shares that are intended to be distributed to BHP shareholders in connection with the Merger via a BHP in specie dividend, and it is expected that they will be made available (once published) at https://www.woodside.com.au/investors/woodside-and-bhp-proposed-merger. Rising Interest Rates & Inflation Ahead! 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. Idag finns Arbetarfreningen p vre plan medan Caf Strandgatan har hela nedre plan samt uteserveringen under sommarmnaderna. 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. 0520-83717 k 3{/,x |c#=G@? *;Nj7-4:Cr>&WXB't(TG&95g7YcL1a`9 or the WDS cost base so Lloydy is on the money thus far. Powered by Discourse, best viewed with JavaScript enabled. 375 of 2017) (as amended) of Ireland or otherwise. BHP has divested the entire division to Woodside in exchange for Woodside equity. 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. 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. You also need to be carefull that the CA does not affect the BHP cost base. NEWS RELEASE. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, Under US federal income tax laws, if you are a US Holder. No. This communication should not be construed in any manner as a recommendation to any reader of this document. [24] This payment will be made to BHP shareholders participating in the Sale Facility by BHP (through BHP's share registry in Australia or the UK, or their CSDP, as applicable) making a deposit into the bank account recorded with the BHP share registry or CSDP into which their BHP dividends are paid. 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). 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. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. 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. [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. 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. Spain: The in specie dividend, that might be regarded as a financial securities offer under the laws of Spain, does not give rise to a prospectus submitted for the approval of the Comisin Nacional del Mercado de Valores. Menyn komponeras och kvalitetsskras av vr duktiga kock som i sin tur verfr kunskaperna till vrig kkspersonal. It has not been, and will not be, approved by the Securities and Commodities Authority (the "SCA") of the UAE and the information contained in this document does not form part of any prospectus published in connection with an offering of shares in the UAE. Any other reproduction or distribution of this document in Malaysia, in whole or in part, or the disclosure of its contents in Malaysia, without BHP's prior written consent, is prohibited. WealthHub Securities Ltd. is not a registered tax agent. My support call has been escalated to the Product Team. Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. 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. 1,000 BHP shares and you get 180 Woodside shares. (I have sought a Support answer but this approach (Community) might be a quicker response.) The franking credits can generally be used to offset any tax payable on the dividend. He shares his three tips on finding FIFO happiness. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. 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. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. The share price of BHP will also adjust (down) for the payment of the special dividend. I suggest you keep the investment property with an interest-only mortgage, to maintain any tax benefits it may be giving you. 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. 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. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. ?-&Y}*Iq_77QSsD Ru9@ `9 )'=cVYQ. 08 April 2022. Hi Leslee BGL support could not tell me why we needed BHPXF ??? Along with Woodside equity, BHP shareholders will receive about $2.50 per share of franking attached to their Woodside stock. Quote 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. 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. 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. The words 'anticipate', 'believe', 'aim', 'estimate', 'expect', 'intend', 'may', 'target', 'plan', 'forecast', 'project', 'schedule', 'will', 'should', 'seek' and other similar words or expressions are intended to identify forward-looking statements. 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. Kevin Mitnick Iq, Mobile Homes For Rent In Clinton, Nc, City Of Hollywood Inspection Route, Articles B
If you enjoyed this article, Get email updates (It’s Free) No related posts.'/> 3C>izcQYh'?>'"8jH|4+OsR}2=>EB@wa;Ass\{: 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. [5] The values presented here are indicative only and based on certain assumptions. {: di_ Many BHP shareholders could be in for a shock at tax time. 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. Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. A BHP spokesperson points out there are two key points to make relating to the merger. 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. Because the distribution is being implemented via the payment of a dividend, the capital implications are minimal. Sustainability is integral to how we contribute to social value creation. This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the Merger or otherwise, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. r du hungrig r kket redo fr dig. 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. Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. For a person earning more than $180,000, this means that an additional $170 tax needs to be paid. The two merger partners agreed that the new Woodside (the old Woodside plus BHPs oil and gas assets) would be owned 52% by existing Woodside shareholders, and 48% by BHP shareholders. Investors on both sides of the merger will retain their underlying shareholdings in each company. Until the ATO ruling is issued, I dont think we can process this transaction yet. It is core to our strategy and sits at the heart of everything we do. 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. Woodside Energy Group Ltd (WDS) is listed on the Australian Securities Exchange (ASX), with secondary listings on the 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. 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. With the merger complete, eligible BHP shareholders have received a dividend (in the form of Eligible Small Shareholders that wish to participate in the Sale Facility should: if they hold their BHP shares on the BHP Australian principal share register, submit their Sale Facility election online at www.bhppetroleumsharefacility.com.au or return a physical Sale Facility Election Form to BHP's share registry by no later than 5:00pm on 24 May 2022 (AEST). you hold a "non-portfolio interest" in Woodside. Email: noel@noelwhittaker.com.au, Merger deal may come with nasty tax surprise. 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. Know the non-concessional contributions cap? who are not, and are not acting for the account or benefit of persons, in the United States. I intend to follow Lloydys process. 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. Sustainability is integral to how we contribute to social value creation. 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. 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. Tel: +61 3 9609 3830 shareholders reflective of assets contributed. Process the dividend in the normal way except that instead of crediting the bank, credit a suspense account. 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. 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. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). Or are qualified dividends always taxed at the same rate as LT cap gains? Implementing the BHP and Woodside Merger Adding your Woodside shares 1 - On the The closing price of Woodside 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. Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. 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 document does not constitute investment advice or the provision of investment services within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. Are there tax implications for BHP shareholders on receipt of Woodside shares. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. Find one worth sharing. Please try again later. 28. A little more information I gleaned last night because it is not a sale I do not thinkthere will be an ATO ruling could be wrong but 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). and. [26] The proceeds will be converted from Australian dollars to the relevant currency at the prevailing market exchange rate during the sale period. For shareholders on the South African branch share register, if you do not communicate to your CSDP that you are an Eligible SA Shareholder (as defined below), you will be assumed to be ineligible. 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. Stay in touch with the latest news, stories and insights from BHP. Can be up to $29.75 difference. 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. 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. Some functionality will be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance. This is long term, so the tax rate is the same as a dividend. 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. 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. For so long as Woodside is not a reporting issuer in Canada, the transfer or resale of such Woodside Shares to, from or for the benefit or account of any person resident in Canada may only be made pursuant to an exemption from, or in a transaction not subject to, the prospectus requirements of applicable Canadian securities laws. Thank you to anyone who can answer this? We do this through our strategy to deliver long-term value and returns through the cycle. Switzerland: 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. Choose your network to share this page with. Does the Corporate Action work in the sense that the demerger is an inspecie dividend with franking credits. 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. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. [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. BHP ADS holders will be treated as eligible to participate. Thanks guys. 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. 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 Thats the way I will process it as well! BHP Group ( BHP) and Woodside Petroleum Ltd ( Woodside) entered into a share sale agreement ( SSA) for the merger of BHPs oil and gas portfolio This document has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. On 22 November 2021, BHP and Woodside announced they had entered into a binding share sale agreement under which Woodside would acquire the entire share capital of BHP 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. Accordingly, no part of the in specie dividend should be assessable to you in Australia nor subject to dividend withholding tax (, an exemption from income tax in the hands of BHP shareholders who constitute South African corporate shareholders on the basis that the BHP shares in respect of which the foreign dividend is paid are listed on the JSE; and. South African shareholders should refer to the section on "What happens to South African resident BHP shareholders?". Would this be regarded as a deprived asset? 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. recognition of a US$210 million impairment charge in the BHP Petroleum balance sheet in the pro forma financial information for the combined group. On May 19th, 2022, Woodside (WDS:ASX) announced that it had approved to be acquired by BHP Group Ltd (BHP:ASX) effective by June 1st, 2022. This is my intended approach. What happens to South African resident BHP shareholders? 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. This did not impact BHP's half year financial report as the Petroleum Assets were assessed in aggregate for impairment testing purposes. This reflects the net cash flows generated by BHP Petroleum, less cash dividends paid by Woodside to BHP, between the Merger effective date of 1 July 2021 and completion. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. 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. I'm joined by Morningstar's Mat Hodge and Mark Taylor to discuss. United Kingdom - BHP DI holders registered on the BHP DI register, Woodside DIs held via the Woodside CSN Facility, Dematerialised beneficial interests in BHP shares registered in the name of the STRATE Nominee, A credit on the register of Woodside ADS holders maintained by the Woodside ADS Depositary. 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. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. BHP shareholders are expected to be entitled to one Woodside Share for every 5.5340BHP shares they hold on the Record Date. 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. Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. It is not intended to be a substitute for specialised taxation advice or an assessment of an individuals liabilities, obligations or claim entitlements that arises, or could arise, under taxation law, and we recommend that you consult a registered tax agent. Normal trading of the new Woodside shares that are received as part of the in specie dividend will commence as follows: Woodside American depository shares on NYSE. If you originally purchased your BHP shares (for say) $30.00, then after the merger, your cost base is still $30.00. I'll enter the dividend and purchase and be happy. .BHP has applied to the Commissioner of Taxation (Commissioner) for a class ruling confirming certain income tax implications of the implementation of the Merger for certain Eligible Shareholders. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. Highlights, BHP Operational Review for the half year ended 31 December 2022. Build Passive Income WITHOUT A $15k Buyers Agent?? Our purpose is to bring people and resources together to build a better world. 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. 52% Woodside . Happy to wait but enjoying the sharing of info. I also received $6.62 in lieu of fractional shares that I need to enter. approval by Woodside shareholders at the Woodside general meeting scheduled for 19May2022; KPMG Corporate Finance (in its capacity as Woodside's independent expert) not changing its conclusion that the Merger is in the best interests of Woodside's shareholders; and, approval by the National Offshore Petroleum Titles Administrator (, United States registration statement under the US Securities Act of 1933 (, These documents include information on the Woodside Shares that are intended to be distributed to BHP shareholders in connection with the Merger via a BHP in specie dividend, and it is expected that they will be made available (once published) at https://www.woodside.com.au/investors/woodside-and-bhp-proposed-merger. Rising Interest Rates & Inflation Ahead! 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. Idag finns Arbetarfreningen p vre plan medan Caf Strandgatan har hela nedre plan samt uteserveringen under sommarmnaderna. 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. 0520-83717 k 3{/,x |c#=G@? *;Nj7-4:Cr>&WXB't(TG&95g7YcL1a`9 or the WDS cost base so Lloydy is on the money thus far. Powered by Discourse, best viewed with JavaScript enabled. 375 of 2017) (as amended) of Ireland or otherwise. BHP has divested the entire division to Woodside in exchange for Woodside equity. 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. 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. You also need to be carefull that the CA does not affect the BHP cost base. NEWS RELEASE. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, Under US federal income tax laws, if you are a US Holder. No. This communication should not be construed in any manner as a recommendation to any reader of this document. [24] This payment will be made to BHP shareholders participating in the Sale Facility by BHP (through BHP's share registry in Australia or the UK, or their CSDP, as applicable) making a deposit into the bank account recorded with the BHP share registry or CSDP into which their BHP dividends are paid. 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). 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. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. 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. [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. 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. Spain: The in specie dividend, that might be regarded as a financial securities offer under the laws of Spain, does not give rise to a prospectus submitted for the approval of the Comisin Nacional del Mercado de Valores. Menyn komponeras och kvalitetsskras av vr duktiga kock som i sin tur verfr kunskaperna till vrig kkspersonal. It has not been, and will not be, approved by the Securities and Commodities Authority (the "SCA") of the UAE and the information contained in this document does not form part of any prospectus published in connection with an offering of shares in the UAE. Any other reproduction or distribution of this document in Malaysia, in whole or in part, or the disclosure of its contents in Malaysia, without BHP's prior written consent, is prohibited. WealthHub Securities Ltd. is not a registered tax agent. My support call has been escalated to the Product Team. Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. 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. 1,000 BHP shares and you get 180 Woodside shares. (I have sought a Support answer but this approach (Community) might be a quicker response.) The franking credits can generally be used to offset any tax payable on the dividend. He shares his three tips on finding FIFO happiness. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. 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. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. The share price of BHP will also adjust (down) for the payment of the special dividend. I suggest you keep the investment property with an interest-only mortgage, to maintain any tax benefits it may be giving you. 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. 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. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. ?-&Y}*Iq_77QSsD Ru9@ `9 )'=cVYQ. 08 April 2022. Hi Leslee BGL support could not tell me why we needed BHPXF ??? Along with Woodside equity, BHP shareholders will receive about $2.50 per share of franking attached to their Woodside stock. Quote 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. 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. 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. The words 'anticipate', 'believe', 'aim', 'estimate', 'expect', 'intend', 'may', 'target', 'plan', 'forecast', 'project', 'schedule', 'will', 'should', 'seek' and other similar words or expressions are intended to identify forward-looking statements. 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. Kevin Mitnick Iq, Mobile Homes For Rent In Clinton, Nc, City Of Hollywood Inspection Route, Articles B
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bhp woodside merger tax implications

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We succeed through the partnerships we build with our suppliers. This will be $5.38 AUD per share in BHP with $2.30 AUD to be fully franked. The Product team is currently looking at this issue. Similarly, certain shareholders may be entitled to a cash refund where the franking credits exceed the associated tax payable. [27] 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. Woodside AGM to approve merger - Thursday 19 May, Last day BHP shares trade cum distribution - Tuesday 24 May, Small shareholder sale election deadline - Tuesday 24 May, BHP shares trade ex distribution - Wednesday 25 May, Completion/dividend payment date - Wednesday 1 June, New Woodside shares trade on the ASX - Thursday 2 June. It is addressed only to the shareholders of BHP in connection with the proposed in specie dividend and participation in the Sale Facility. 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. In what form will BHP shareholders receive Woodside Shares? The acquisition date will be 1 June. 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. The values presented here are indicative only and based on certain assumptions. Going forward, the analysts are less enthusiastic. 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. Vill du ge oss synpunkter eller frbttringsfrslag r du alltid vlkommen att kontakta oss antingen p plats eller via e-post. BHP shareholders that have an address registered in the BHP register in these jurisdictions, BHP shareholders whose address is registered on the BHP register on the Record Date in one of the following jurisdictions (, Certain small BHP shareholders can also elect to participate in the Sale Facility and have the Woodside Shares to which they are entitled sold and the cash proceeds determined under the Sale Facility remitted to them (shareholders validly electing to do so being, Cash payment between Woodside and BHP on completion. 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. 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. Shareholders will be able to obtain free copies of the Registration Statement, prospectus and other documents containing important information about Woodside and BHP once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. 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. So it sounds to me like you record a cash dividend based on the FMV of the stock received, then turn around and immediately buy the same number of share received at that same FMV to eliminate the cash. Vr vision r enkel. While each BHP ADS represent two BHP shares, each Woodside ADS represents one Woodside Share. BHP received 914,768,948 Woodside shares as consideration for the sale of BHP Petroleum. Woodside and BHP also plan to file other documents with the SEC regarding the proposed Merger and in specie dividend. '_mqG"8atL~9#>3C>izcQYh'?>'"8jH|4+OsR}2=>EB@wa;Ass\{: 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. [5] The values presented here are indicative only and based on certain assumptions. {: di_ Many BHP shareholders could be in for a shock at tax time. 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. Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. A BHP spokesperson points out there are two key points to make relating to the merger. 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. Because the distribution is being implemented via the payment of a dividend, the capital implications are minimal. Sustainability is integral to how we contribute to social value creation. This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the Merger or otherwise, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. r du hungrig r kket redo fr dig. 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. Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. For a person earning more than $180,000, this means that an additional $170 tax needs to be paid. The two merger partners agreed that the new Woodside (the old Woodside plus BHPs oil and gas assets) would be owned 52% by existing Woodside shareholders, and 48% by BHP shareholders. Investors on both sides of the merger will retain their underlying shareholdings in each company. Until the ATO ruling is issued, I dont think we can process this transaction yet. It is core to our strategy and sits at the heart of everything we do. 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. Woodside Energy Group Ltd (WDS) is listed on the Australian Securities Exchange (ASX), with secondary listings on the 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. 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. With the merger complete, eligible BHP shareholders have received a dividend (in the form of Eligible Small Shareholders that wish to participate in the Sale Facility should: if they hold their BHP shares on the BHP Australian principal share register, submit their Sale Facility election online at www.bhppetroleumsharefacility.com.au or return a physical Sale Facility Election Form to BHP's share registry by no later than 5:00pm on 24 May 2022 (AEST). you hold a "non-portfolio interest" in Woodside. Email: noel@noelwhittaker.com.au, Merger deal may come with nasty tax surprise. 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. Know the non-concessional contributions cap? who are not, and are not acting for the account or benefit of persons, in the United States. I intend to follow Lloydys process. 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. Sustainability is integral to how we contribute to social value creation. 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. 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. Tel: +61 3 9609 3830 shareholders reflective of assets contributed. Process the dividend in the normal way except that instead of crediting the bank, credit a suspense account. 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. 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. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). Or are qualified dividends always taxed at the same rate as LT cap gains? Implementing the BHP and Woodside Merger Adding your Woodside shares 1 - On the The closing price of Woodside 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. Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. 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 document does not constitute investment advice or the provision of investment services within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. Are there tax implications for BHP shareholders on receipt of Woodside shares. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. Find one worth sharing. Please try again later. 28. A little more information I gleaned last night because it is not a sale I do not thinkthere will be an ATO ruling could be wrong but 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). and. [26] The proceeds will be converted from Australian dollars to the relevant currency at the prevailing market exchange rate during the sale period. For shareholders on the South African branch share register, if you do not communicate to your CSDP that you are an Eligible SA Shareholder (as defined below), you will be assumed to be ineligible. 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. Stay in touch with the latest news, stories and insights from BHP. Can be up to $29.75 difference. 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. 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. Some functionality will be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance. This is long term, so the tax rate is the same as a dividend. 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. 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. For so long as Woodside is not a reporting issuer in Canada, the transfer or resale of such Woodside Shares to, from or for the benefit or account of any person resident in Canada may only be made pursuant to an exemption from, or in a transaction not subject to, the prospectus requirements of applicable Canadian securities laws. Thank you to anyone who can answer this? We do this through our strategy to deliver long-term value and returns through the cycle. Switzerland: 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. Choose your network to share this page with. Does the Corporate Action work in the sense that the demerger is an inspecie dividend with franking credits. 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. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. [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. BHP ADS holders will be treated as eligible to participate. Thanks guys. 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. 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 Thats the way I will process it as well! BHP Group ( BHP) and Woodside Petroleum Ltd ( Woodside) entered into a share sale agreement ( SSA) for the merger of BHPs oil and gas portfolio This document has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. On 22 November 2021, BHP and Woodside announced they had entered into a binding share sale agreement under which Woodside would acquire the entire share capital of BHP 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. Accordingly, no part of the in specie dividend should be assessable to you in Australia nor subject to dividend withholding tax (, an exemption from income tax in the hands of BHP shareholders who constitute South African corporate shareholders on the basis that the BHP shares in respect of which the foreign dividend is paid are listed on the JSE; and. South African shareholders should refer to the section on "What happens to South African resident BHP shareholders?". Would this be regarded as a deprived asset? 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. recognition of a US$210 million impairment charge in the BHP Petroleum balance sheet in the pro forma financial information for the combined group. On May 19th, 2022, Woodside (WDS:ASX) announced that it had approved to be acquired by BHP Group Ltd (BHP:ASX) effective by June 1st, 2022. This is my intended approach. What happens to South African resident BHP shareholders? 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. This did not impact BHP's half year financial report as the Petroleum Assets were assessed in aggregate for impairment testing purposes. This reflects the net cash flows generated by BHP Petroleum, less cash dividends paid by Woodside to BHP, between the Merger effective date of 1 July 2021 and completion. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. 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. I'm joined by Morningstar's Mat Hodge and Mark Taylor to discuss. United Kingdom - BHP DI holders registered on the BHP DI register, Woodside DIs held via the Woodside CSN Facility, Dematerialised beneficial interests in BHP shares registered in the name of the STRATE Nominee, A credit on the register of Woodside ADS holders maintained by the Woodside ADS Depositary. 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. This announcement has not been reviewed or approved by any competent authority for the purposes of the EU Prospectus Regulation. BHP shareholders are expected to be entitled to one Woodside Share for every 5.5340BHP shares they hold on the Record Date. 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. Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. It is not intended to be a substitute for specialised taxation advice or an assessment of an individuals liabilities, obligations or claim entitlements that arises, or could arise, under taxation law, and we recommend that you consult a registered tax agent. Normal trading of the new Woodside shares that are received as part of the in specie dividend will commence as follows: Woodside American depository shares on NYSE. If you originally purchased your BHP shares (for say) $30.00, then after the merger, your cost base is still $30.00. I'll enter the dividend and purchase and be happy. .BHP has applied to the Commissioner of Taxation (Commissioner) for a class ruling confirming certain income tax implications of the implementation of the Merger for certain Eligible Shareholders. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. Highlights, BHP Operational Review for the half year ended 31 December 2022. Build Passive Income WITHOUT A $15k Buyers Agent?? Our purpose is to bring people and resources together to build a better world. 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. 52% Woodside . Happy to wait but enjoying the sharing of info. I also received $6.62 in lieu of fractional shares that I need to enter. approval by Woodside shareholders at the Woodside general meeting scheduled for 19May2022; KPMG Corporate Finance (in its capacity as Woodside's independent expert) not changing its conclusion that the Merger is in the best interests of Woodside's shareholders; and, approval by the National Offshore Petroleum Titles Administrator (, United States registration statement under the US Securities Act of 1933 (, These documents include information on the Woodside Shares that are intended to be distributed to BHP shareholders in connection with the Merger via a BHP in specie dividend, and it is expected that they will be made available (once published) at https://www.woodside.com.au/investors/woodside-and-bhp-proposed-merger. Rising Interest Rates & Inflation Ahead! 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. Idag finns Arbetarfreningen p vre plan medan Caf Strandgatan har hela nedre plan samt uteserveringen under sommarmnaderna. 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. 0520-83717 k 3{/,x |c#=G@? *;Nj7-4:Cr>&WXB't(TG&95g7YcL1a`9 or the WDS cost base so Lloydy is on the money thus far. Powered by Discourse, best viewed with JavaScript enabled. 375 of 2017) (as amended) of Ireland or otherwise. BHP has divested the entire division to Woodside in exchange for Woodside equity. 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. 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. You also need to be carefull that the CA does not affect the BHP cost base. NEWS RELEASE. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, Under US federal income tax laws, if you are a US Holder. No. This communication should not be construed in any manner as a recommendation to any reader of this document. [24] This payment will be made to BHP shareholders participating in the Sale Facility by BHP (through BHP's share registry in Australia or the UK, or their CSDP, as applicable) making a deposit into the bank account recorded with the BHP share registry or CSDP into which their BHP dividends are paid. 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). 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. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. 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. [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. 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. Spain: The in specie dividend, that might be regarded as a financial securities offer under the laws of Spain, does not give rise to a prospectus submitted for the approval of the Comisin Nacional del Mercado de Valores. Menyn komponeras och kvalitetsskras av vr duktiga kock som i sin tur verfr kunskaperna till vrig kkspersonal. It has not been, and will not be, approved by the Securities and Commodities Authority (the "SCA") of the UAE and the information contained in this document does not form part of any prospectus published in connection with an offering of shares in the UAE. Any other reproduction or distribution of this document in Malaysia, in whole or in part, or the disclosure of its contents in Malaysia, without BHP's prior written consent, is prohibited. WealthHub Securities Ltd. is not a registered tax agent. My support call has been escalated to the Product Team. Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. 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. 1,000 BHP shares and you get 180 Woodside shares. (I have sought a Support answer but this approach (Community) might be a quicker response.) The franking credits can generally be used to offset any tax payable on the dividend. He shares his three tips on finding FIFO happiness. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. 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. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. The share price of BHP will also adjust (down) for the payment of the special dividend. I suggest you keep the investment property with an interest-only mortgage, to maintain any tax benefits it may be giving you. 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. 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. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. ?-&Y}*Iq_77QSsD Ru9@ `9 )'=cVYQ. 08 April 2022. Hi Leslee BGL support could not tell me why we needed BHPXF ??? Along with Woodside equity, BHP shareholders will receive about $2.50 per share of franking attached to their Woodside stock. Quote 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. 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. 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. The words 'anticipate', 'believe', 'aim', 'estimate', 'expect', 'intend', 'may', 'target', 'plan', 'forecast', 'project', 'schedule', 'will', 'should', 'seek' and other similar words or expressions are intended to identify forward-looking statements. 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.

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