Introduction
This page documents Class's assumptions and the recommended approach to process distribution events if you want to use Class's 2018 Tax Statement (TS) templates for Stapled Securities.
Recommended approach
After reviewing all the widely held stapled securities in Class, we have identified 10 stapled securities that require some manual adjustments to be made to the income event. If you want to use the Class Tax Statement template, refer to the steps below.
Group 1: Update the accounting date of the distribution (GPT, SYD)
Recommended steps:
- Use income generation to generate income.
- Update the accounting date of the June-2017 distribution to 1 July 2017 so it can be included for 2018FY.
- Update the accounting date of the June-2018 distribution to 1 July 2018 so it can be excluded for 2018FY.
This will allow the distribution to be reported correctly for 2018FY.
Group 2: June-18 distribution includes a dividend component (CHC, DXS, ENN, GMG, LLC, LTN, TCL)
Recommended steps:
- Use income generation to generate income
- Reduce the June-2018 distribution by the dividend component
- Process the dividend component separately as a dividend event
This will allow the distribution and dividend to be reported correctly for 2018FY.
Group 3: June-18 distribution includes a distribution from the Public Trading Trust (APA)
Recommended steps:
- Use income generation to generate income
- Process a distribution event for the June-2017 income component that belongs to 2018FY with an accounting date 1 July 2017
- Reduce the June-2018 distribution by the distribution component that belongs to the 2019FY
- Process another distribution for the component that belongs to 2019FY with an accounting date 1 July 2018
This will allow the distribution from trading trust and distribution from flow-through trust be reported correctly for 2018FY.
Refer to the section below for the income details for each of the Stapled Securities.
Income details |
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Group 1 Stapled Securities |
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Code |
Holding Description |
Income Details for 2018FY |
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GPT |
GPT Group - Stapled Securities Fully Paid
Each GPT security is made up of a unit in GPT Trust and a share in the GPT Management Holdings Limited. GPT's year end for tax purposes is 31 December. |
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SYD |
Sydney Airport - Fully Paid Stapled Securities Us Prohibited
Each SYD security consists of a unit in Sydney Airport Trust and a share in Sydney Airport Limited. SYD's year end for tax purposes is 31 December. |
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Group 2 Staple Securities |
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Code |
Holding Description |
Income Details for 2018FY |
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CHC |
Charter Hall Group - Stapled Securities Us Prohibited
Each CHC security is made up of a unit in Charter Hall Property Trust, and a share in Charter Hall Limited. |
* The remaining 5.5 cents (out of the total distribution of 16.2c) will be processed as a fully franked dividend in 2019FY. |
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DXS |
Dexus - Units Fully Paid Stapled
Each DXS security comprises three of its listed property trusts, Dexus Diversified Trust (DDF), Dexus Office Trust (DOT) and Dexus Industrial Trust (DIT) with a public trading trust, Dexus Operations Trust (DXO). For tax purposes, DXO is a Division 6C “public trading” trust, which is taxed as if it were a company while DDF, DOT and DIT is a Division 6 flow-through trust.
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^ The 4.916579 cents (out of the Jun 2017 distribution of 23.76c) should be processed as a fully franked dividend in 2018FY * The remaining 4.915469 cents (out of the Jun 2018 distribution of 24.1c) will be processed as a fully franked dividend in 2019FY. |
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ENN |
Elanor Investors Group - Stapled Securities Fully Paid
Each ENN security is comprised of a share in Elanor Investment Limited and a unit in Elanor Investment Fund. |
^ The remaining 1.034370 cents (out of the Jun 2017 distribution of 5.01c) should be processed as a fully franked dividend in 2018FY. * The remaining 3.470194 cents (out of the Jun 2018 distribution of 8.606524c) will be processed as a fully franked dividend in 2019FY. |
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GMG |
Goodman Group - Stapled Securities Fully Paid
Each GMG security consists of an interest in the CDI which represents a fully paid share in Goodman Logistics (HK) Limited (GLHK), a share in Goodman Limited (GL) and a unit in Goodman Industrial Trust (GIT). |
* The remaining 5 cents is distributed by GLHK, will be processed as a foreign income (foreign dividend) in 2019FY. |
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LLC |
Lendlease Group - Unit/Ordinary Fully Paid Stapled Securities
Each LLC security consists of a share in Lendlease Corporation Limited and a unit in Lendlease Trust. |
^ The 28.419521 cents (out of the total distribution of 33c) should be processed as an unfranked dividend. * The remaining 30.3271 cents (out of the total distribution of 35c) will be processed as an unfranked dividend to be included in 2019FY. |
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LTN |
Lantern Hotel Group - Units/Ordinary Fully Paid Stapled Securities
Each LTN security consists of a unit in the Lantern Real Estate Trust and its controlled entities, and Lantern Hotel Group Limited and its controlled entities. |
* The 0.232 cents (out of the total distribution of 0.9c from 2017 distribution) should be processed as a fully franked dividend. |
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TCL |
Transurban Group - Ordinary Shares/Units Fully Paid Triple Stapled
Each TCL security consists of a share in Transurban Holdings Limited, a unit in Transurban Holding Trust and a share in Transurban International Limited. |
^ The remaining 3.5 cents (out of the June-17 distribution of 26.5c) will be processed as a fully franked dividend in 2018FY. * The remaining 2.5 cents (out of the June-18 distribution of 28c) will be processed as a fully franked dividend in 2019FY. |
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Group 3 Stapled Securities |
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Code |
Holding Description |
Income Details for 2018FY |
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APA |
APA Group - Units Fully Paid Stapled Securities
Each APA security consists of a unit in Australian Pipeline Trust (APT) and a unit in APT Investment Trust (APTIT). For tax purposes APT is a Division 6C “public trading” trust, which is taxed as if it were a company while APTIT is a Division 6 “pass through” trust. |
^ The accounting date of 28/06/2017 needs to be updated to 01/07/2017. The APTIT Trust Distribution of 3.0857c (out of the total June-17 distribution of 23c) was included in the 2017 tax statement. * The remaining 21.29 cents (out of the total distribution of 24c) should be processed as another distribution with accounting date as 01/07/2018 to bring the income in 2019FY. |
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