Taxation Information

Restructure of Westfield Group and Merger of Westfield Group’s Australian and New Zealand Business with Westfield Retail Trust

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

An overview of the taxation implications of the restructure and merger were included in the securityholder booklets.

Cost Base Information

For former Westfield Group securityholders;

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

For former Westfield Retail Trust securityholders;

How To Determine Your Cost Base in Scentre Group Stapled Securities

US IRS Forms 8937 – Report of Organisational Actions Affecting Basis of Securities;

Scentre Group Limited

Scentre Group Trust 1

Scentre Group Trust 2

Scentre Group Trust 3

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

For former Westfield Group securityholders;

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

For former Westfield Retail Trust securityholders;

ATO Class Ruling (CR 2014/77) – Westfield Retail Trust: Merger with Westfield Group’s Australian/New Zealand Business

Fund Payment Notice;

SCG Fund Payment Notice August 2016

SCG Fund Payment Notice February 2016

SCG Fund Payment Notice August 2015

SCG Fund Payment Notice February 2015

SCG Fund Payment Notice August 2014

WFD Fund Payment Notice February 2015

WFD Fund Payment Notice August 2014

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

Scentre Group 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 Scentre Group distributions from 2014 onward’s and the corresponding annual Tax Guides will be available on this site, with Scentre Group’s first Taxation Guide and Taxation Statements issues in respect of the 2015 year.

2016 Scentre Group Tax Guide
2016 Scentre Group Taxation Components

2015 Scentre Group Tax Guide
2015 Scentre Group Taxation Components

2015 Westfield Group Tax Guide
2015 Westfield Group Taxation Components

2015 Westfield Retail Trust Tax Guide
2015 Westfield Retail Trust Taxation Components

 

Australian Capital Gains Tax considerations

A Scentre Group Stapled Security comprises four separate assets for capital gains tax purposes (one Scentre Group Limited share, one Scentre Group Trust 1 unit, one Scentre Group Trust 2 unit and one Scentre Group Trust 3 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.

Scentre Group NTA 

Date
Scentre Group
Limited
Scentre Group
Trust 1
Scentre Group
Trust 2
Scentre Group
Trust 3
Scentre Group
Total
30 Jun 14 3.94% 33.34% 62.72% 0.00% 100%
31 Dec 14 4.33% 34.07% 61.49% 0.11% 100%
30 Jun 15 3.74% 34.39% 61.74% 0.13% 100%
31 Dec 15 4.17% 34.83% 60.87% 0.13% 100%
30 Jun 16 4.42% 35.56% 59.89% 0.13% 100%