Introduction
This page documents Class' assumptions and the recommended approach to process distribution events if you want to use Class' 2020 Tax Statement Templates for stapled securities.
Recommended approach
After reviewing all the widely held stapled securities in Class, we have identified the following 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 (SYD, VVR)
Class has updated the accounting date of the June 2019 and June 2020 distributions to 1 July. Income that is automated by Class should have this reflected.
- The accounting date of the June 2019 distribution is 1 July 2019 so it can be included for 2020FY
- The accounting date of the June 2020 distribution is 1 July 2020 so it can be included for 2021FY
Group 2: June 2020 distribution includes a dividend component (CHC, DXS, GMG, TCL, LLC, APD)
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 2020 distribution is reduced by the dividend component
- The dividend component is processed separately as a dividend event
Group 3: June 2020 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 2020 distribution is reduced by the distribution component that belongs to the public trading trust
- A separate distribution for the component that belongs to the public trading trust is created with an accounting date of 1 July 2020.
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 2020FY |
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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. |
Boards of SAL and SAT1 did not declare an interim dividend or a trust distribution for the half year period ended 30 June 2020. | ||||||||||||||||||||||||||||
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VVR |
Viva Energy REIT - Fully Paid Ordinary/Units Stapled Securities Each VVR security consists of one unit in Viva Energy REIT Trust and one share in Viva Energy REIT Limited. VVR'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 2020FY |
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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 6.5 cents (out of the June 2019 total distribution of 17.2c) should be processed as a fully franked dividend at a company tax rate of 30% in 2020FY. * The remaining 10.5 cents (out of the total distribution of 18.22c) will be processed as a fully franked dividend at a company tax rate of 30% in 2021FY. |
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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. |
^ The 4.558477 cents (out of the Jun 2019 distribution of 23c) should be processed as a fully franked dividend in 2020FY * The remaining 4.582102 cents (out of the Jun 2020 distribution of 23.3c) will be processed as a fully franked dividend in 2021FY. |
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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 2.00 cents (out of the June 2019 distribution of 30c) should be processed as a fully franked dividend in 2020FY. * No dividend was paid for the six months ending 30 June 2020 from either Transurban Holdings Limited or Transurban International Limited |
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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 4 cents is distributed by GLHK, will be processed as a foreign income (foreign dividend) in 2021FY. |
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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 9.50414 cents (out of the total distribution of 30c) should be processed as an unfranked dividend to be included in 2020FY. * No dividend was paid for the six months ending 30 June 2020 from Lendlease Corporation Limited |
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APD |
Apn Property Group - Fully Paid Ordinary/Units Stapled Securities APD stapled group was created by stapling each fully paid ordinary share in APN Property Group Limited to each fully paid ordinary unit in APD Trust, be effective on 13 December 2019. |
^ The 1.1300 cents (out of the Feb 2020 distribution of 1.60c) should be processed as a fully franked dividend at a company tax rate of 27.5% in 2020FY. * The remaining 0.8000 cents (out of the June 2020 distribution of 1.55c) will be processed as a fully franked dividend at a company tax rate of 26% in 2021FY. |
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Group 3 Stapled Securities |
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Code |
Holding Description |
Income Details for 2020FY |
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APA |
APA Group - Units Fully Paid Stapled Securities Each APA security consists of a unit in the 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 23.1322 cents (out of the June 2019 total distribution of 25.50c) should be processed as a distribution in 2020FY. * The remaining 24.9248 cents (out of the June 2020 total distribution of 27.00c) will be processed as a distribution with accounting date as 01/07/2020 to bring the income to 2021FY. |
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