Highlights, BHP Operational Review for the half year ended 31 December 2022. [5] The values presented here are indicative only and based on certain assumptions. BHP Shareholders on the Australian principal share register with a registered address in New Zealand and who do not have any payment instructions recorded on their shareholding, will also have their sale proceeds paid into a separate bank account until valid New Zealand payment instructions have been provided to the BHP share registry. You also need to be carefull that the CA does not affect the BHP cost base. Our purpose is to bring people and resources together to build a better world. Mark Taylor: 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. 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. Along with Woodside equity, BHP shareholders will receive about $2.50 per share of franking attached to their Woodside stock. The sale proceeds may take up to 12 weeks to be remitted to BHP shareholders. Noel Whittaker is the author of Retirement Made Simple and numerous other books on personal finance. [26] The proceeds will be converted from Australian dollars to the relevant currency at the prevailing market exchange rate during the sale period. [13] CHESS is the electronic transfer and settlement system for securities quoted on the ASX under which transfers are effected in electronic form. 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. BHP DI holders will receive their entitlement in the form of Woodside DIs in the same ratio as BHP shareholders receive Woodside Shares on the Record Date (subject to the rounding treatment described above). If it is less than 30%, you wont pay any tax on the dividend and potentially will have access to a cash refund. above. 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 For BHP American Depository Shares (ADS) holders, you will receive 1 Woodside Share for every 2.7670 shares of BHP ASD held. 1 - On the portfolio overview page, click the blue Add a new holding button Build Passive Income WITHOUT A $15k Buyers Agent?? Summary of the merger. Choose your network to share this page with. Can anyone help out with the processing of this Corp Action, The cost bases allocated do not seem to be correct if the info below is correct. *t{sz@5}'d8{GXG 375 of 2017) (as amended) of Ireland, and the recipients of this document should seek independent legal and financial advice in determining their actions in respect of or pursuant to this document. 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. 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. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. Woodside and BHP also plan to file other documents with the SEC regarding the proposed Merger and in specie dividend. However, the trustee or nominee may not accept instructions from an underlying beneficiary to make an election unless it is in respect of all parcels of BHP shares held by the trustee or nominee on behalf of that beneficiary, and the underlying beneficiary has confirmed to the trustee or nominee that its aggregated beneficial and legal holding of BHP shares is less than the Small Shareholder Threshold. BHP shareholders entitlement to, and the payment of, the in specie dividend is subject to completion of the Merger. Step 1: Go to Transaction List and select Journal to record the Woodside shares and the In-Specie Dividends. 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. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). 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. 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. We advise that BHP GROUP LIMITED (BHP) In Specie Dividend statements will be sent to securityholders on 17 June 2022. 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) On a per share basis, it will be equal to the Woodside share price, divided by the merger ratio of 5.534. By reason of the foregoing, if you are in Malaysia, you may not distribute this document to anyone other than your own financial and legal advisors, nor may you make copies of this or any other document you receive, except to the extent necessary to consult with your financial and legal advisors who are advising you in connection with this potential investment (and only so long as such advisors agree to hold this information confidential and not use it for purposes other than advising you in connection herewith). Here is what shareholders of BHP and Woodside need to know. Step 2: Enter transaction details Enter Date as of 01/06/2022 There will be two entries in Accounting. Many BHP shareholders could be in for a shock at tax time. Lets unpack that. NAB Defence, your protection against fraud. Property is our speciality incl Trusts, Co and SMSF. Ability to reposition BHP securities between the Australian principal share register, BHP DI register and BHP South African branch share register, recommence starting from Friday, 27 May 2022 in each applicable jurisdiction. Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. For ineligible overseas shareholders and small BHP shareholders that have validly elected to participate in the sale facility, the in specie dividend entitlement has been transferred to the sale agent to be sold. Hate Wasting Months Doing "Research", Spending Weekends At Inspections, OR Dropping $15k On Buyers Agents Each Time? On completion of the Merger, the combined company is expected to have a high margin oil portfolio, long life LNG assets and the financial resilience to help supply the energy needed for global growth and development over the energy transition. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. 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. No offer of securities in the United States shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. No. Be prepared and put a strategy in place. Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. Stay in touch with the latest news, stories and insights from BHP. Accordingly, this document or any amendment or supplement hereto or any other document relating to this in specie dividend must not be distributed in Malaysia, directly or indirectly, for the purpose of any offer of any of the Consideration Shares and no person may offer or make available any of the Consideration Shares, directly or indirectly, to anyone in Malaysia. (I have sought a Support answer but this approach (Community) might be a quicker response.) Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. 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. 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. This information is provided by RNS, the news service of the London Stock Exchange. 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. 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. 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. 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. Inneservering 75 platser Mobile: +1 713 299 5342, Tel: +44 2078 027 144 Based on the assumptions described in this announcement, upon implementation, BHP ADS holders as of the Record Date for BHP ADS, which is expected to be 5:00pm on 26May 2022 (EDT), are expected to be entitled to receive approximately 0.3614 of a Woodside ADS in respect of each BHP ADS owned at that time (subject to payment of taxes and applicable fees and expenses of Citibank, N.A , acting as the depositary of each of the BHP and Woodside ADSs (the BHP ADS Depositary and the Woodside ADS Depositary, respectively)). 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. Hi Leslee BGL support could not tell me why we needed BHPXF ??? 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). Because while the world relies on the resources we find, BHP relies on people like you. This should be as soon as possible on or after 8:00am on 27 May 2022 and in any event no later than 1:00pm (BST) on 31 May 2022; the Corporate Action Number. 08 April 2022. Canada: Woodside is not, and does not intend to become, a reporting issuer in Canada. Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. Thanks for your post and we have also updated your support call. [7] The sale facility is the facility organised by BHP pursuant to a Share Sale Facility Agreement under which a sale agent, J.P. Morgan Securities Australia Limited or one of its affiliates, will sell the Woodside Shares represented by (i) the aggregate of all fractions of a Woodside Share that are subject to the rounding treatment described above to ensure each BHP shareholder receives a whole number of Woodside Shares; (ii) the dividend entitlement of Ineligible Overseas Shareholders; and (iii) Eligible Small BHP shareholders who have validly elected to have the Woodside Shares to which they are otherwise entitled sold via the Sale Facility. ?-&Y}*Iq_77QSsD Ru9@ `9 )'=cVYQ. 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. 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. hp 19a toner compatible printers menu menu Quote For further information, please contact, Update on BHP Petroleum and Woodside merger and share distribution information, This announcement contains information relevant for BHP shareholders in respect of the Merger and the proposed in specie dividend of Woodside ordinary shares (. Thinking about your next career move? 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 It is core to our strategy and sits at the heart of everything we do. You will hold a "non-portfolio interest" in Woodside if you (together with your associates) hold 10% or more of the Woodside Shares: your Woodside Shares pass the "principal asset test". 08 April 2022. 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). In this regard, you are referred in particular to those sections of the CREST Manual concerning practical limitations of the CREST system and timings. BHP ADS holders will receive a number of Woodside ADS that corresponds to the Woodside Shares received on the BHP Shares represented by BHP ADSs (subject to payment of taxes and applicable Woodside depositary and BHP depositary fees and expenses). This may vary depending on the BHP register as at the Record Date and could also be lower where South African BHP shareholders validly elect to receive the Woodside Shares to which they are entitled. The 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. Unlike Woodside shareholders, BHP shareholders arent being asked to approve the merger. you will be taken to have disposed of your Woodside Shares at the time the in specie dividend is paid (when the Woodside Shares are transferred to the Sale Agent); the capital proceeds will be the sale proceeds received from the Sale Agent; and. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. This did not impact BHP's half year financial report as the Petroleum Assets were assessed in aggregate for impairment testing purposes. consequences of disposals of Woodside Shares by. Woodside shareholders dont need to do anything. It will be fully franked, with franking credits of $2.48 per share. Singapore: This document has not been registered as a prospectus with the Monetary Authority of Singapore. [1] The Woodside disclosure documents described in this announcement have been issued by, and are the responsibility of, Woodside other than to the extent that another party has positively and expressly accepted responsibility for information in such documents. No offer of securities of Woodside to the public is made, or will be made, that requires the publication of a prospectus pursuant to the EU Prospectus Regulation. We provide the materials for essential infrastructure, enabling better standards of living and facilitating greater prosperity. Because while the world relies on the resources we find, BHP relies on people like you. 0520-83717 No fractional Woodside ADSs will be issued or delivered to holders of BHP ADSs. TIDMBHP. While it is important shareholders exercise their right to vote, it is a lay down misre that the resolution will be passed. The distribution ratio is 1 Woodside share for every 5.534 BHP shares owned. inclusion of intercompany and cash balances that were excluded from the BHP Petroleum net assets disclosed as 'held for sale' in BHP's half year financial report; additional depreciation expense of approximately US$150 million, as depreciation has not been recognised by the BHP Group from the point in time that BHP Petroleum was classified as 'held for sale' following the signing of the SSA in November 2021; and. Surely, the earlier they know about it the better they can be prepared to find the additional tax. Normal system timing and limitations will therefore apply in connection with a TTE instruction and its settlement. Based on the assumptions described in this announcement, upon implementation, BHP ADS holders as of the Record Date for BHP ADS, which is expected to be 5:00pm on 26May 2022 (EDT), are expected to be entitled to receive approximately 0.3614 of a Woodside ADS in respect of each BHP ADS owned at that time (subject to payment of taxes and applicable fees and expenses of Citibank, N.A , acting as the depositary of each of the BHP and Woodside ADSs (the. '@p9T;889>Fnlh+mD:qDkza`NP`lVO~2;S$^4:l1M^|b# @\rY?ag,#-v*g!]"q5?JKK Z7Pkw8\KjPG^d 6'V. Join Australia's most dynamic and respected property investment community. Vnligen respektera vra Covid-19 regler. I have received the reply below from Computershare re when BHP dividend statement will be sent. Here's the published "tax outcomes" to US shareholders:: --------------------------------------------------------------------------------. Great information flowing here. A reference to "BHP shareholder" in this announcement is a reference to any person registered in the BHP register. I suggest you keep the investment property with an interest-only mortgage, to maintain any tax benefits it may be giving you. Woodside will make a cash payment to BHP of approximately US$830 million in relation to cash dividends paid by Woodside between the Merger effective date of 1 July 2021 Because not actual benefit has been received for this rounding amount, I assume we could simply reduce the in specie dividend to the value of the WDS shares received. [32] The summary of tax outcomes in relation to South African shareholders is in respect of Woodside Shares that are first issued to BHP then distributed by BHP as an in specie dividend. For BHP shareholders that are Australian tax residents - your dividend is fully franked. Happy to wait but enjoying the sharing of info. Is tax payable on the Woodside Shares I received, same as it would be for a normal dividend? 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. It is addressed only to the shareholders of BHP in connection with the proposed in specie dividend and participation in the Sale Facility. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. Thanks, Lloydy, you make a lot of sense.Will try your approach. 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. Because while the world relies on the resources we find, BHP relies on people like you. This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. , issuing new Woodside shares to BHP shareholders. The franking credits can generally be used to offset any tax payable on the dividend. 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. It should not be relied on and is not indicative of future performance, including future security prices. 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. Fre Lr 10.00 22.00. BHP has applied to the Commissioner of Taxation (, The US taxation summary is based upon the. In what form will BHP shareholders receive Woodside Shares? imT:}dZZU}_wAC /@V^u1H]{nNaom3n3Uq< Kz8>MS`O-d%]J$9E!m^|YZI89 This is open to BHP shareholder who own 1,000 BHP shares or less. A BHP spokesperson points out there are two key points to make relating to the merger. If you originally purchased your BHP shares (for say) $30.00, then after the merger, your cost base is still $30.00. It must not be delivered to, or relied on by, any person apart from the shareholders of BHP in connection with proposed in specie dividend and participation in the Sale Facility. 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. '_mqG"8atL~9#>3C>izcQYh'?>'"8jH|4+OsR}2=>EB@wa;Ass\{: This may vary depending on the BHP register as at the Record Date and could also be lower where South African BHP shareholders validly elect to receive the Woodside Shares to which they are entitled. 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. 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. Our purpose is to bring people and resources together to build a better world. [19] BHP ADS holders will receive a number of Woodside ADS that corresponds to the Woodside Shares received on the BHP Shares represented by BHP ADSs (subject to payment of taxes and applicable Woodside depositary and BHP depositary fees and expenses). Top up tax may arise for shareholders where the tax payable in relation to the dividend exceeds the franking credits attached. It looks like the CA would not give me (us) the answer. r du hungrig r kket redo fr dig. Woodside Energy Group Ltd (Woodside) and BHP Group Limited (BHP) have completed the merger of Woodside with BHPs oil and gas portfolio to create a global energy company. BHP DI holders who hold one or more parcels of BHP DIs as trustee or nominee for, or otherwise on account of, another person, may make separate elections in accordance with the election process in respect of each of those parcels. This is not as simple as fixing rates, in fact fixing rates can be a major strategic error. The company elaborated that its net profit after tax for the first half of 2022 will incorporate the contribution of the BHPs portfolio from completion and the accounting treatment of this portfolio will align with Woodsides policies. 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. It should also make Woodside more financially resilient. Email: noel@noelwhittaker.com.au, Merger deal may come with nasty tax surprise. Warning! Did your value come anywhere close to the $3.86 / BHP share that I suggested might apply? WealthHub Securities Ltd. is not a registered tax agent. I have a question regarding cash held in the fund. 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. [11] This is also the last date on which BHP shareholders can reposition securities between the Australian principal share register, BHP DI register and BHP South African branch share register. 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. Then think big. Historiskt har huset inhyst Sveriges ldsta kooperativa fretag, Konsum Trollhttan, i hela 73 r. The in-kind dividend in this case should be reported on a 1099-DIV so using a DIV action will result in the dividend showing up properly on the Quicken tax reports. 0520-83717 Superannuation, SMSF & Personal Insurance. 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.
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bhp woodside merger tax implications