Taxation Information

Westfield Group Restructure

The Westfield Group Restructure was implemented on 30 June 2014. This restructure resulted in the creation of two new listed property groups, Scentre Group and Westfield Corporation.

An overview of the taxation implications of the restructure was included the securityholder booklets.

Cost Base Information

For former Westfield Group securityholders;

How To Determine Your Cost Base In Scentre Group and Westfield Corporation Stapled Securities

Additional information for securityholders is contained in the following Australian Taxation Office (ATO) document;

For former Westfield Group securityholders;

ATO Class Ruling (CR 2014/78) – Westfield Group – Restructure and Merger with the Westfield Retail Trust

Fund Payment Notices

Stapled Securities and Capital Gains Tax

General information can be found at the ATO website.

Additional tax information can be found at “Frequently Asked Questions’ –Taxation Components and Tax Guides

Tax Guides and Taxation Components

The Westfield Corporation will produce an Annual Taxation Statement for all securityholders who received a distribution from the Group during the relevant financial year. The Tax Statements will be mailed to investors during July, along with a Tax Guide to assist in the completion of your tax return.

The taxation components of Westfield Corporation distributions from 2014 onward's and the corresponding annual Tax Guides will be available on this site, with Westfield Corporation’s first Taxation Guide and Taxation Statements issues in respect of the 2015 year.

2016 Westfield Corporation Tax Guide
2016 Westfield Corporation Taxation Components

2015 Westfield Corporation Tax Guide
2015 Westfield Corporation Taxation Components

2015 Westfield Group Tax Guide
2015 Westfield Group Taxation Components

Australian Capital Gains Tax considerations

A Westfield Corporation Stapled Security comprises three separate assets for capital gains tax purposes (one Westfield Corporation Limited share, one WFD Trust unit and one Westfield America Trust unit).

For capital gains tax purposes you need to apportion the cost of each Stapled Security and the proceeds on sale of each Stapled Security over the separate assets that make up the Stapled Security. This apportionment should be done on a reasonable basis.

One possible method of apportionment is on the basis of the relative Net Tangible Assets of the individual entities.

Date

Westfield Corporation
Limited

 

WFD Trust

Westfield America
Trust

Westfield Corporation
Total

30 Jun 14 12.63% 75.79% 11.58% 100%
31 Dec 14 13.48% 66.67% 19.85% 100%
30 Jun 15 16.38% 60.22% 23.40% 100%
31 Dec 15 17.98% 50.99% 31.03% 100%
30 Jun 16 19.55% 49.35% 31.10% 100%

 

If I sell my Stapled Securities, how do I calculate my capital gains tax?

Westfield Corporation Stapled Security comprises three separate assets for capital gains tax purposes (one Westfield Corporation Limited share, one WFD Trust unit and one Westfield America Trust unit). For capital gains tax purposes you need to apportion the cost of each Stapled Security and the proceeds on sale of each Stapled Security over the separate assets that make up the Stapled Security. This apportionment should be done on a reasonable basis. One possible method of apportionment is on the basis of the relative Net Tangible Assets of the individual entities.

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What is tax deferred income?

WFD and Westfield America Trust pay distributions which usually contain a tax deferred portion. We will confirm any tax deferred amounts paid to you in your annual taxation statement. More information about tax deferral is available from the ASX website.

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When will I receive the annual tax statement?

The annual tax statements will be forwarded to investors each year during the month of July. If you are searching for information about how to complete past tax returns, please refer to the relevant tax guides on this website at Taxation Information.

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Where can I get the breakdown of the taxation components on a percentage basis?

This information is available at Investor Services on the Westfield Corporation website at Taxation Information.

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Cost Base Information

For former Westfield Group securityholders;

How To Determine Your Cost Base In Scentre Group and Westfield Corporation Stapled Securities

Additional information for securityholders is contained in the following Australian Taxation Office (ATO) document;

For former Westfield Group securityholders;

ATO Class Ruling (CR 2014/78) – Westfield Group – Restructure and Merger with the Westfield Retail Trust

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