Introduction
This page documents Class's assumptions and the recommended approach to process distribution events if you want to use Class's 2019 Tax Statement Templates for stapled securities.
Recommended approach
After reviewing all the widely held stapled securities in Class, we have identified 8 stapled securities which require some adjustments to be made to the income event. Refer to the following details if you want the Class tax statement template.
Group 1: Update the accounting date of the distribution (GPT, SYD)
Class has updated the accounting date of the June-18 and June-19 distributions from 27 June to 1 July. Income that is automated by Class should have this reflected.
- The accounting date of the June-2018 distribution is 1 July 2018 so it can be included for 2019FY
- The accounting date of the June-2019 distribution is 1 July 2019 so it can be included for 2020FY
Group 2: June-19 distribution includes a dividend component (CHC, DXS, GMG, LLC, TCL)
Class automates the distribution and dividend component split so they can be taxed across the different financial year. Use Generate Income to create the distribution event and dividend event.
- The June-2019 distribution is reduced by the dividend component
- The dividend component is processed separately as a dividend event
Group 3: June-19 distribution includes a distribution from the Public Trading Trust (APA)
Class automates the distribution split so the different distribution component can be taxed across the different financial year. Use Generate Income to generate the two distribution events automatically.
- The June-2019 distribution is reduced by the distribution component that belongs to the public trading trust
- A separate distribution for the component that belongs the public trading trust is created with an accounting date 1 July 2019
Refer to the section below for the income details for each of these stapled securities.
Income details |
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Group 1 Stapled Securities |
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Code |
Holding Description |
Income Details for 2019FY |
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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 2019FY |
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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 6.5 cents (out of the total distribution of 17.2c) will be processed as a fully franked dividend at a company tax rate of 30% in 2020FY. |
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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 2018 distribution of 24.10c) should be processed as a fully franked dividend in 2019FY * The remaining 4.558477 cents (out of the Jun 2019 distribution of 23c) will be processed as a fully franked dividend in 2020FY. |
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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 2.50 cents (out of the June-18 distribution of 28c) will be processed as a fully franked dividend in 2019FY. * The remaining 2.00 cents (out of the June-19 distribution of 30c) will be processed as a fully franked dividend in 2020FY. |
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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 2020 FY. |
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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 30.3271 cents (out of the total distribution of 35c) should be processed as an unfranked dividend. * The remaining 9.50414 cents (out of the total distribution of 30c) will be processed as an unfranked dividend to be included in 2020FY. |
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Group 3 Stapled Securities |
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Code |
Holding Description |
Income Details for 2019FY |
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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 27/06/2018 needs to be updated to 01/07/2018. The APTIT Trust Distribution of 2.71c out of the total June-18 distribution of 24) was included in the 2018 tax statement. * The remaining 23.1322 cents (out of the total distribution of 25.50c) should be processed as another distribution with accounting date as 01/07/2019 to bring the income in 2020FY. |
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