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. CHESS is the electronic transfer and settlement system for securities quoted on the ASX under which transfers are effected in electronic form. Are there tax implications for BHP shareholders on receipt of Woodside shares? Thats the way I will process it as well! Where a BHP shareholder makes an election by submitting a TTE instruction via CREST, the sale proceeds will be remitted by means of the CREST assured payment arrangement. If your tax rate is higher than 30%, you will have to pay some tax, but at an effectively reduced rate. It is addressed only to the shareholders of BHP in connection with the proposed in specie dividend and participation in the Sale Facility. BHP received 914,768,948 Woodside shares as consideration for the sale of BHP Petroleum. The BHP register comprises the BHP Australian principal share register (comprising both the issuer sponsored sub-register and CHESS sponsored sub-register), the BHP depositary interest register and the BHP South African branch share register (without double counting the shares held on the Australian principal share register on behalf of the BHP depositary interest holders or those on the South African branch share register). [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. [26] The proceeds will be converted from Australian dollars to the relevant currency at the prevailing market exchange rate during the sale period. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. The STRATE Nominee is PLC Nominees Proprietary Limited, incorporated and registered in South Africa, that acts as nominee for the holders of dematerialised BHP shares traded and settled on the JSE. 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. Wrote my last post before seeing Erics response. The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. {: di_ , dividends paid by Woodside will generally be subject to US federal income taxation. Woodside's board unanimously recommended that the company's shareholders vote in favour of the merger. I have not received a dividend statement from BHPs share registry (Computershare) not can I find anything on Computershares web site. To treat BHP employees fairly and restore the value of the unvested equity awards to their pre-completion value, BHP will grant those employees with additional BHP equity awards on the same substantive terms as the original unvested incentive awards or matching entitlements. If you want to buy BHP shares to get the entitlement to the special dividend (and Woodside shares), you will need to do so by Tuesday 24 May. Important additional information and where to find it. They can elect to have their new Woodside shares sold on their behalf, free of brokerage or any charges. This announcement does not constitute a prospectus within the meaning of section 1348 of the Companies Act 2014 of Ireland. 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. Surely, the earlier they know about it the better they can be prepared to find the additional tax. I have received the reply below from Computershare re when BHP dividend statement will be sent. 1,000 BHP shares and you get 180 Woodside shares. 28. .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. 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. 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. 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. [3] A CSN Facility is the corporate sponsored nominee facility arranged by the relevant company with Computershare Investor Services PLC to hold DIs in the company for and on behalf of participants in, and on terms and conditions that govern, the facility. Malaysia: No recognition from the Securities Commission Malaysia has been applied for or will be obtained for the in specie dividend under the Capital Markets and Services Act 2007. 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 communication is not a substitute for the Registration Statement or the prospectus or for any other document that Woodside or BHP may file with the SEC in connection with the Merger and in specie dividend. Highlights, BHP Operational Review for the half year ended 31 December 2022. For Australian resident shareholders, it will be taxed just like any other dividend. Know the non-concessional contributions cap? #$r{h`}Xp$3t/[6b8X`-,B- ;%Z]*S{glj^p"*r hI DRMf]5CkH+Tva (W~Gm\}J-035f"xwwF:SNc`|KN 20 May 2022. Tel: +61 3 9609 3830 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. We will wait further for the ATO Ruling if available at a later stage before providing any further updates on this issue. 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. These are the only market participants who can liaise directly with the STRATE Nominee which allows for electronic settlement of BHP shares on the JSE. Here's the published "tax outcomes" to US shareholders:: --------------------------------------------------------------------------------. Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. hold their BHP shares (and will hold their Woodside Shares) on capital account. A new window will open. Our advisers are qualified and experienced and we don't outsource. 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). The South32 shares have since begun trading independently from BHP Billiton shares. If you wish to use this facility, you must apply by Tuesday 24 May. I suggest you keep the investment property with an interest-only mortgage, to maintain any tax benefits it may be giving you. f3h;xt[N*OJisO~*9gr_z~/\I!MZPE|qB The closing price of Woodside shares on ASX on 31 May 2022 was A$29.761. [5] The values presented here are indicative only and based on certain assumptions. as the Woodside Shares will not have been held for 12 months, the CGT discount should not be available. 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. For a person earning more than $180,000, this means that an additional $170 tax needs to be paid. Some functionality will be unavailable between 02:00 and 06:30 on Sunday 15th of January for scheduled maintenance. On the upside, a person earning less than $45,000 would receive a refund of imputation credits. I received 11 shares of WDS and I had a little over 30 shares of BHP. BHP Group will transfer a smaller-than-expected $3.9 billion in oil and gas decommissioning liabilities to Woodside when it merges its petroleum business with the independent Australian gas producer. 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. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. With the merger complete, eligible BHP shareholders have received a dividend (in the form of Is tax payable on the Woodside Shares I received, same as it would be for a normal dividend? 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. A new window will open. To participate in the Sale Facility, Eligible Small Shareholders must make a valid election. Italy: By reading this announcement, you agree to be bound by the following limitations and qualifications: (i) this announcement is only intended to provide information on the distribution by BHP to its shareholders of shares of Woodside; (ii) this announcement is for informational purposes only and is not intended to and does not constitute an offer or invitation to exchange or sell or solicitation of an offer to subscribe for or buy, or an invitation to exchange, purchase or subscribe for, any securities, any part of the business or assets described herein, or any other interests or the solicitation of any vote or approval in any jurisdiction in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law; (iii) this announcement should not be construed in any manner as a recommendation to any reader of this document; and (iv) this announcement is not a prospectus, product disclosure statement or other offering document for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14th 2017. The current CA process may not be able to do all the above. Mark Taylor: BHP Group (BHP) and Woodside Petroleum Ltd (Woodside) entered into a share sale agreement (SSA) for the merger of BHP's oil and gas portfolio with Woodside by an all-stock merger (Merger) on 22 November 2021.On completion of the Merger, the Email: noel@noelwhittaker.com.au, Merger deal may come with nasty tax surprise. Som gst ska du kunna koppla av till nymalet kaffe i vrt rofyllda lge lngst med kanalen. [22] BHP shareholders who become new BHP shareholders close to the cut-off date for submission of elections and who wish to participate in the Sale Facility, will need to ensure that their shareholding has settled on the BHP Australian principal share register before they submit a Sale Facility election and by no later than 5.00pm on 24 May 2022 (AEST). Investors on both sides of the merger will retain their underlying shareholdings in each company. [10] BHP is entitled to approximately US$1.2 billion in relation to dividends paid by Woodside between the Merger effective date and completion. 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. 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. 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. 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. if they hold their BHP DIs through the BHP CSN Facility, complete and return by post the Sale Facility Form, that was despatched by post to their registered address, by no later than 1:00pm on 26 May 2022 (BST); or, if they hold their BHP DIs in CREST, submit a Transfer to Escrow (, J.P. Morgan Securities Australia Limited or one of its affiliates (. No. The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. What happens to South African resident BHP shareholders? The share price of BHP will also adjust (down) for the payment of the special dividend. In what form will BHP shareholders receive Woodside Shares? contact name and telephone number in the shared note field. A reference to "BHP shareholder" in this announcement is a reference to any person registered in the BHP register. 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. Does the amount of cash held include dividends received in any given year, or are the dividends in addition to the cash amount? This would enable you to maximise the amount you are salary sacrificing to super. This form can be requested by contacting the telephone numbers set out in the Shareholder Information Line section further below or by logging into www.investorcentre.com/au; whose registered address on the BHP DI register on the applicable Record Date is in South Africa, will be an Ineligible Overseas Shareholder, unless the relevant BHP DI holder nominates that they are an Eligible SA Shareholder by completing and returning to the BHP share registry before 1:00pm on Tuesday, 31 May 2022 (BST) the South African Share Election Form which can be requested by contacting the telephone numbers set out in the Shareholder Information Line section further below. It is core to our strategy and sits at the heart of everything we do. For most shareholders, there will be rounding down of up to $29.76. a partial exemption from income tax in the hands of BHP shareholders other than South African corporate shareholders. 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. The release explains that eligible BHP shareholders will receive one newly issued Woodside share for every 5.534 BHP shares they hold at the close of play on Thursday 26 May 2022.

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