Introduction
This page documents Class' assumptions and the recommended approach to process distribution events if you want to use Class' 2023 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 (WPR*)
Class has updated the accounting date of the June 2022 and June 2023 distributions to 1 July. Income that is automated by Class should have this reflected.
- The accounting date of the June 2022 distribution is 1 July 2022 so it can be included for 2023FY
- The accounting date of the June 2023 distribution is 1 July 2023 so it can be included for 2024FY
Group 2: June 2023 distribution includes a dividend component (CHC, DXS, GMG, TCL, LLC, CNI)
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 2023 distribution is reduced by the dividend component
- The dividend component is processed separately as a dividend event
Group 3: June 2023 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 2023 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 2023.
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 2023FY |
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WPR |
Waypoint REIT - Fully Paid Ordinary/Units Stapled Securities
Each WPR security consists of one unit in Waypoint REIT Trust and one share in Waypoint REIT Limited.
WPR's year-end for tax purposes is 31 December. |
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Group 2 Stapled Securities |
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Code |
Holding Description |
Income Details for 2023FY |
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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 9.2 cents (out of the Jun 2022 total distribution of 20.47c) should be processed as a fully franked dividend at a company tax rate of 30% in 2023FY. * The remaining 9.8 cents (out of the total distribution of 21.7c) will be processed as a fully franked dividend at a company tax rate of 30% in 2024FY. |
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DXS |
Dexus - Units Fully Paid Stapled Each DXS security comprises the stapled securities of Dexus Property Trust (DPT) and 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 DPT is a Division 6 flow-through trust. |
^ The 4.648718 cents (out of the Jun 2022 distribution of 25.2c) should be processed as a fully franked dividend in 2023FY. * The remaining 4.648718 cents (out of the Jun 2023 distribution of 23.6c) will be processed as a fully franked dividend in 2024FY. |
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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 Jun 2022 distribution of 26c) should be processed as a fully franked dividend in 2023FY. * The remaining 1.00 cents (out of the Jun 2023 distribution of 31.5c) will be processed as a fully franked dividend in 2024FY. |
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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 2024FY. |
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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 5.704257 cents (out of the Jun 2022 distribution of 11c) will be processed as a dividend (75% franked at a company tax rate of 30%) in 2023FY. * The remaining 4.656179 cents (out of the Jun 2023 distribution of 11.099959c) will be processed as fully franked dividend in 2024FY. |
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CNI |
Centuria Capital Group - Fully Paid Ordinary/Units Stapled Securities Each CNI security is made up of a fully paid ordinary share in Centuria Capital Limited and a fully paid ordinary unit in the Centuria Capital Fund. |
^ The 0.90 cents (out of the Jun 2022 distribution of 5.50c) should be processed as a fully franked dividend at a company tax rate of 30% in 2023FY. * The remaining 0.50 cents (out of the Jun 2023 distribution of 5.80c) should be processed as a fully franked dividend at a company tax rate of 30% in 2024FY. |
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Group 3 Stapled Securities |
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Code |
Holding Description |
Income Details for 2023FY |
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APA |
APA Group - Units Fully Paid Stapled Securities Each APA security consists of a unit in APA Infrastructure Trust (APA Infra) and a unit in APA Investment Trust (APA Invest). For tax purposes APA Infra is a Division 6C “public trading” trust, which is taxed as if it were a company while APA Invest is a Division 6 “pass-through” trust. |
^ The 26.8557 cents (out of the Jun 2022 total distribution of 28.00c) should be processed as a distribution in 2023FY. * The remaining 27.9715 cents (out of the Jun 2023 total distribution of 29.00c) will be processed as a distribution with accounting date as 01/07/2023 to bring the income to 2024FY. |
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