Distribution / Tax

Distributions Information

As required by its constitution, BWP distributes all its “profit attributable to unitholders of the BWP Trust” as per the statutory accounts every six months, excluding unrelated movements in the fair value of investment properties, as well as other items determined by the directors.  The record dates for these distributions are normally 31 December for the interim distribution and 30 June for the final distribution.

As a result of the NPR acquisition announcement in January 2024, and consistent with the terms of the DRP, the directors determined to suspend the DRP in respect of the interim distribution for the six-month period ended 31 December 2023. The DRP was reinstated for the final distribution for the year ended 30 June 2024.

The below table summarises the tax free and tax deferred components of the distributions in the corresponding financial years. Depending on when the units were held by unitholders in the respective financial year, the actual taxable components may vary so unitholders should refer to the information provided on the Attribution Managed Investment Trust Member Annual statement (“AMMA”). Independent tax advice should be sought when completing your tax return. Copies of the AMMA can be obtained from the Trust’s unit registry website, using the following link. Click here

¹ Tax Deferred Component calculated on full-year results when no capital gains events have occurred in a distribution period

² For the final distribution for year ended 30 June 2024, an upwards adjustment to the cost base of the units may be available, this information will be provided on the Attribution Managed Investment Trust Member Annual statement (“AMMA”) subject to when the units have been held during the year. Independent tax advice should be sought when completing your tax return. Copies of the AMMA can be obtained from the Trust’s unit registry website, using the following link. Click here.  

³ For the final distribution for year ended 30 June 2021, an upwards adjustment to the cost base of the units may be available, this information will be provided on the Attribution Managed Investment Trust Member Annual statement (“AMMA”) subject to when the units have been held during the year. Independent tax advice should be sought when completing your tax return. Copies of the AMMA can be obtained from the Trust’s unit registry website, using the following link. Click here.

⁴ For the year ended 30 June 2019, an upwards adjustment to the cost base of the units may be available, this information will be provided on the Attribution Managed Investment Trust Member Annual statement ("AMMA"). Independent tax advice should be sought when completing your tax return. Copies of the AMMA can be obtained from the Trust’s unit registry website, using the following link. Click here

Tax Treatment for one-off distributions

⁵ For the year ended 30 June 2019, an upwards adjustment to the cost base of the units may be available, this information will be provided on the Attribution Managed Investment Trust Member Annual statement (“AMMA”). Independent tax advice should be sought when completing your tax return. Copies of the AMMA can be obtained from the Trust’s unit registry website, using the following link. Click here

Information on the tax treatment of distributions

BWP Trust has elected into the Attribution Managed Investment Trust (“AMIT”) regime with effect from the year ended 30 June 2019. As such, the Attribution Managed Investment Trust Member Annual statement (“AMMA”) has replaced the annual tax statements that unitholders received in previous years.

Prior to the 1 July 2001, distributions paid by the Trust had a tax-free and a tax-deferred component. Due to legislative changes, from 1 July 2001 the tax-free component of the distribution is now effectively treated as a tax-deferred component.

The tax-deferred components of the distribution are not assessable for income tax purposes, although these may have capital gains tax implications for unitholders. Also, under the AMIT regime, where a member receives a distribution of cash that is less than their allocated share of the taxable trust components, members will be entitled to make upward adjustments to the cost base of their units. Independent tax advice should be sought when completing your tax return.

In the statement of interim distribution issued to unitholders, a preliminary estimate of the tax-deferred components of the distribution is provided. However, the preliminary estimate is superseded by the actual calculation of the tax-deferred components of the distribution made at year end.

An Attribution Managed Investment Trust Member Annual statement is forwarded to all unitholders at the end of each financial year. This provides a breakdown of each of the taxable and non-taxable components of the distributions paid or payable for the respective financial year.

Copies of previous years' tax statements can be obtained from the Trust's unit registry website, using the following link. Click here