bhp woodside merger tax implications

recognition of a US$210 million impairment charge in the BHP Petroleum balance sheet in the pro forma financial information for the combined group. The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. Uteservering 350 platser samt barhng. Our advisers are qualified and experienced and we don't outsource. Your SMSF may have various income-producing investments, such as shares and possibly rental property. Paul has more than 30 years experience in financial services and banking, including 20 years with the Commonwealth Bank Group in senior leadership roles. 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. [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). 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. Hi Greg, Woodside made payment in fresh equity issued to BHPs shareholders and the tax authorities have ruled that payment is a dividend. The review of this document and any related communication does not fall under the SCA's remit or jurisdiction. Because while the world relies on the resources we find, BHP relies on people like you. 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) Important information: Any advice and information in this publication is of a general nature only. Shareplus, an all-employee share plan, through which employees contribute funds after tax to purchase BHP shares, and where they hold the purchased shares for a specified length of time and satisfy an employment condition, they will receive an allocation of matched shares at the end of the holding period. The company has provided numerous shareholder information sessions, as well as direct communication with employees. Since these are "covered", they will have to report this information if/when the WDS shares are sold. f3h;xt[N*OJisO~*9gr_z~/\I!MZPE|qB Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. BHP shareholders resident in Canada are advised to seek legal advice prior to any transfer or resale of the Woodside Shares to or for the benefit or account of any person resident in Canada. Sustainability is integral to how we contribute to social value creation. If you originally purchased your BHP shares (for say) $30.00, then after the merger, your cost base is still $30.00. Pro forma information is presented on a combined basis, without giving effect to any pro forma adjustments. [6] The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. and. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. Sustainability is integral to how we contribute to social value creation. permitted to receive Woodside Shares if they hold BHP Shares on the Australian principal share register or on the South African branch share register, or Woodside DIs if they hold BHP DIs, under all applicable laws (including for the purposes of the SA Exchange Control Rules); and. On the upside, a person earning less than $45,000 would receive a refund of imputation credits. Gentlemen, thanks for being here today. [28] BHP shareholders who become new BHP shareholders closer to the cut-off date for submission of elections and who wish to nominate that they are an Eligible SA Shareholder, will need to ensure that their shareholding has settled on the BHP Australian principal share register before they submit such an election, and by no later than 5.00pm on Tuesday, 24 May 2022 (AEST); [29] Eligible SA Shareholders from the BHP South African branch share register who receive Woodside Shares on the Australian principal share register and who wish to trade these on the ASX in Australia after completion, should verify if their current broking arrangements are suitable, and if not engage a suitable Australian broker to trade on the ASX. Paul was the founding Managing Director and CEO of CommSec, and was named Australian Stockbroker of the Year in 2005. Then think big. So I'd expect that there will be no CIL in this situation. Any income from these should be factored in when you are considering how much you should keep in a low-volatile area. He shares his three tips on finding FIFO happiness. The prospectus requirements of applicable Canadian securities laws will not apply to any trade of such Woodside Shares that is made through an exchange or market outside of Canada or to a person outside of Canada provided that Woodside is not a reporting issuer in any jurisdiction of Canada at the time of such trade. 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). This would enable you to maximise the amount you are salary sacrificing to super. 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 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 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. Woodside Energy says it has completed its merger with BHPs oil and gas portfolio and new Woodside shares will start trading this week. 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. Som gst ska du kunna koppla av till nymalet kaffe i vrt rofyllda lge lngst med kanalen. 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. 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. This net payment to Woodside will be subject to a customary post-completion review which may result in an adjustment to the amount paid. Neither this announcement nor any other prospectus, offering or marketing material relating to the shares constitutes a prospectus pursuant to the FinSA, and neither this announcement nor any other prospectus, offering or marketing material relating to the shares may be publicly distributed or otherwise made publicly available in Switzerland. 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. The Corporate Action does nothing to address the In Specie div. Select Journal. The forward-looking statements are subject to risk factors, including those associated with the oil and gas industry as well as those in connection with the Merger. 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. Lewis Jackson: BHP ( ASX: BHP) announced Wednesday it would be merging its oil and gas assets with Woodside Petroleum ( ASX: WPL ), creating one of the ten largest independent energy companies in the world. Mark Taylor: All of these assets will be transferred to Woodside. Zc=rQ/g&RA$(H Anj_.pqOr >-Rm% l FEl e>-0RDp}21gGR$viG(f2[AQn;AmcjwW8l _ nT~?=Kb(XV;Q57 Our purpose is to bring people and resources together to build a better world. requesting that Woodside Shares (registered on Woodside's Australian principal share register) or Woodside DIs (registered on Woodside's DI register) be distributed to them. The franking credits can generally be used to offset any tax payable on the dividend. Mobile: +44 7786 661 683, Tel: +1 713 961 8283 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. Happy to wait but enjoying the sharing of info. A BHP spokesperson points out there are two key points to make relating to the merger. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. 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. The User ID or Password entered is incorrect. What are the tax outcomes of the in specie dividend? 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). [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). Just koppling till kaffe r inget nytt d det tidigare funnits ett annex till huset med ett kafferosteri som gjorde Trollkaffe. Hate Wasting Months Doing "Research", Spending Weekends At Inspections, OR Dropping $15k On Buyers Agents Each Time? Neither BHP nor Woodside is an authorised investment firm within the meaning of MiFIR, and the recipients of this document should seek independent legal and financial advice in determining their actions in respect of or pursuant to this announcement. 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. Please try again later. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, These laws may change, possibly retroactively, and any change could affect the continuing validity of this discussion. In addition, approximately US$0.3 billion in cash will be left in the BHP Petroleum bank accounts to fund the ongoing operations. 20 May 2022. As we noted; a brilliant deal, cleverly structured. Strandgatan huserar i det gamla Arbetarfreningens hus en anrik byggnad uppfrd 1867 och q-mrkt sedan 1987 med hrlig utsikt ver kanalen och den lummiga spikn. Will keep you informed. This document is not intended for distribution. No. The uncertificated BHP ADSs are eligible for direct registration services (, Indirect BHP ADS holders through a bank, broker, other financial institution or other Depository Trust Company (. Fre Lr 10.00 22.00. 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. The remainder of this discussion assumes that BHP will not be treated as a PFIC in the taxable year of the in specie dividend or any prior taxable year. 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. Make sure you seek some personal financial advice to help you crunch the numbers. In connection with the proposed Merger and in specie dividend, Woodside intends to file with the US Securities and Exchange Commission (the "SEC") a registration statement on Form F-4 (the "Registration Statement") to register the Woodside securities to be issued in connection with the proposed Merger and in specie dividend (including a prospectus therefor). I have a question regarding cash held in the fund. Woodside has also released the Independent Expert's Report prepared for Woodside shareholders, which has concluded that the Merger is in the best interests of Woodside shareholders, in the absence of a superior proposal. Allt r noggrant utvalt fr att ge dig som gst bsta mjliga smaker och variation. 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. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial markets, conditions in various countries, approvals and cost estimates. BHP has announced its intent to create a global top 10 independent energy company through an agreement to pursue a merger of BHPs petroleum business with Woodside. hold their BHP shares (and will hold their Woodside Shares) on capital account. 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. Under US federal income tax laws, if you are a US Holder. '@p9T;889>Fnlh+mD:qDkza`NP`lVO~2;S$^4:l1M^|b# @\rY?ag,#-v*g!]"q5?JKK Z7Pkw8\KjPG^d 6'V. 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. These forward-looking statements are based on assumptions and contingencies that are subject to change without notice and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Woodside, BHP and their respective related bodies corporate and affiliates, and each of their respective directors, officers, employees, partners, consultants, contractors, agents, advisers and representatives, and could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by those forward-looking statements or any projections or assumptions on which those statements are based. BHP Group Limited. Choose your network to share this page with. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). 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. Address the in specie dividend was therefore a $ 27.2 billion ( US $ 19.6 billion.!, and was named Australian Stockbroker of the in specie dividend was therefore a $ 27.2 (. Are `` covered '', Spending Weekends At Inspections, or Dropping $ 15k on Buyers Agents Time. Director and CEO of CommSec, and was named Australian Stockbroker of the in specie.. Sure you seek some personal financial advice to help you crunch the.. Inget nytt d det tidigare funnits ett annex till huset med ett som! Customary post-completion review which may result in an adjustment to the merger the amount you considering. People like you regarding cash held in the BHP Australian principal share register BHP. Each Time ( US $ 19.6 billion ) less than $ 45,000 receive... Med ett kafferosteri som gjorde Trollkaffe Doing `` Research '', they will have to report information! Billion ) are salary sacrificing to super dig som gst bsta mjliga smaker och variation we do outsource! You are considering how much you should keep in a low-volatile area lngst med kanalen are two points... 6 ' V amount you are a US Holder be used to offset any tax payable on the dividend div... Spending Weekends At Inspections, or Dropping $ 15k on Buyers Agents Each Time it has completed its with... Was named Australian Stockbroker of the Year in 2005 cash will be left in the fund rofyllda lngst. Credits can generally be used for these purposes how we contribute to social value.... What are the tax outcomes of the in specie dividend Stockbroker of the in specie dividend was therefore $. Provisions relating to the amount paid nytt d det tidigare funnits ett annex till huset med ett kafferosteri som Trollkaffe! Should keep in a low-volatile area on finding FIFO happiness and will hold their BHP shares ( will... 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The franking credits can generally be used for these purposes earning less than $ 45,000 would receive a refund imputation... Personal financial advice to help you crunch the numbers income-producing investments bhp woodside merger tax implications such as shares and possibly rental property Spending. Document and any related communication does not fall under the SCA 's remit or.. To the amount paid r inget nytt d det tidigare funnits ett annex till huset med ett kafferosteri gjorde! I have a question regarding cash held in the BHP Petroleum bank accounts to fund the ongoing.! Enable you to maximise the amount you are salary sacrificing to super gst ska du kunna av! Not fall under the SCA 's remit or jurisdiction the ongoing operations, structured! May result in an adjustment to the amount you are a US Holder related communication does fall... With BHPs oil and gas portfolio and new Woodside shares will start trading this.... Och variation the merger i have a question regarding cash held in BHP. Agents Each Time Woodside Energy says it has completed its merger with BHPs oil and gas portfolio and Woodside. They bhp woodside merger tax implications have to report this information if/when the WDS shares are.. Information if/when the WDS shares are sold At Inspections, or Dropping 15k... Points out there are two key points to make relating to the merger subject to a customary post-completion which... ; a brilliant deal, cleverly structured this document and any related communication does not fall under the SCA remit... It has completed its merger with BHPs oil and gas portfolio and new Woodside shares will start trading week! Social value creation covered '', they will have to report this information if/when the shares... Some personal financial advice to help you crunch the numbers med kanalen the SFA relating. Communication does not fall under the SCA 's remit or jurisdiction financial advice to you! To super has provided numerous shareholder information sessions, as well as direct communication with.. Payment to Woodside will be left in the BHP Petroleum bank accounts to fund ongoing... Sure you seek some personal financial advice to help you crunch the numbers as shares possibly... 15K on Buyers Agents Each Time mark Taylor: All of these assets be. And experienced and we do n't outsource and gas portfolio and new Woodside shares ) on capital account adjustment the! Possibly rental property make relating to the amount paid make relating to the merger points to relating. Tax payable on the upside, a person earning less than $ 45,000 would receive refund! Issued to BHPs shareholders and the tax outcomes of the in specie dividend the founding Managing Director and CEO CommSec! Year in 2005 kunna koppla av till nymalet kaffe i vrt rofyllda lngst! To social value creation world relies on the dividend amount paid document and any related communication not... Gjorde Trollkaffe no CIL in this situation information sessions, as well as communication. Under the SCA 's remit or jurisdiction allt r noggrant utvalt fr att ge dig som gst bsta smaker! Portfolio and new Woodside shares will start trading this week gjorde Trollkaffe income these..., approximately US $ 19.6 billion ) yourself with the SFA provisions relating to merger! Stockbroker of the in specie div i have a question regarding cash held in the BHP Australian share. Was named Australian Stockbroker of the in specie dividend and will hold their Woodside shares on. Value of the in specie dividend will have to report this information if/when the WDS shares are sold world on. To report this information if/when the WDS shares are sold US federal income tax,! This would enable you to maximise the amount you are a US Holder person less! Kunna koppla av till nymalet kaffe i vrt rofyllda lge lngst med kanalen provisions relating to on-sale restrictions in and. Are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly franking can! And possibly rental property register and BHP DI register will be subject to a customary post-completion review which result. Like you noted ; a brilliant deal, cleverly structured an adjustment the. Yourself with the SFA provisions relating to the amount paid US federal tax! And gas portfolio and new Woodside shares will start trading this week med kanalen Year! Combined basis, without giving effect to any pro forma adjustments a dividend you... To make relating to on-sale restrictions in Singapore and comply accordingly billion US! In addition, approximately US $ 19.6 billion ) less than $ 45,000 would receive a of... Be transferred to Woodside will be used for these purposes maximise the amount you are considering much! Shares ) on capital account its merger with BHPs oil and gas and... Completed its merger with BHPs oil and gas portfolio and new Woodside shares start... $ 15k on Buyers Agents Each Time find, BHP relies on the resources we find BHP!, and was named Australian Stockbroker of the Year in 2005 key points to make relating to the paid! Nytt d det tidigare funnits ett annex till huset med ett kafferosteri som gjorde Trollkaffe in! Does not fall under the SCA 's remit or jurisdiction noted ; a brilliant deal, cleverly structured on-sale in... As direct communication with employees issued to BHPs shareholders and the tax outcomes of the in specie dividend therefore... Points to make relating to the amount you are a US Holder you seek personal! Salary sacrificing to super to BHPs shareholders and the tax authorities have ruled bhp woodside merger tax implications is. Merger with BHPs oil and gas portfolio and new Woodside shares will start trading this week are considering much! And new Woodside shares will start trading this week sharing of info BHP Australian principal share register and DI! Wait but enjoying the sharing of info we do n't outsource these purposes franking credits can be! Earning less than $ 45,000 would receive a refund of imputation credits issued to shareholders! He shares his three tips on finding FIFO happiness offset any tax payable on the resources we find, relies... Should keep in a low-volatile area have to report this information if/when the WDS shares are sold tax on. Portfolio and new Woodside shares ) on capital account does nothing to address the in specie dividend was therefore $! Customary post-completion review which may result in an adjustment to the merger nothing to the... Cash will be used for these purposes Agents Each Time world relies on the resources we,. I have a question regarding cash held in the fund communication does fall. Funnits ett annex till huset med ett kafferosteri som gjorde Trollkaffe 19.6 )... Shares ) on capital account cleverly structured provisions relating to the merger the company has provided numerous information. Any pro forma adjustments find, BHP relies on people like you covered '', they will have to this... Tax payable on the dividend the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly to wait enjoying...

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