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Distributions and Taxation

Distribution Policy

SCA Property Group intends to distribute approximately 85-95% of funds from operations each year. “Distribution earnings” represents the Directors’ view of the cash available for distribution.

Distribution Payment Frequency

Distributions are announced and declared in December and June for each financial year on the Australian Stock Exchange. Distributions will be paid on a six-monthly basis at the end of January and at the end of August In respect of those announcements.

Distributions are only paid by direct credit

Distributions will be paid by SCA Property Group by direct credit only. Unless you have provided your direct credit instructions, you will not receive payment of any distributions declared.

Go on-line to www.investorcentre.com to provide your bank account or financial institution account information and other details including your Tax File Number.

Alternatively contact the SCP Information Line on 1300 318 976 (within Australia) (or +61 1300 318 976 outside Australia) to request the forms to be sent to you.

Distribution Reinvestment Plan (DRP)

SCA Property Group does have a DRP that from time to time is available to participate in.

Unitholders can elect to participate in the plan by logging on to www.investorcentre.com or calling the SCA Property Group Information Line on 1300 318 976 (or +61 1300 318 976 outside Australia) and completing the DRP Election Form.

Details of when the DRP is activated will be made as part of the distribution announcement to the Australian Stock Exchange (ASX).

Further information can be accessed:

DRP Rules

DRP Q&A

Distribution History

Period Ended Date Paid Distribution (cpu) DRP Price ($)
30 June 2013 28 August 2013 5.60 N/A
31 December 2013 30 January 2014 5.40 N/A
30 June 2014 28 August 2014 5.60 N/A
31 December 2014 30 January 2015 5.60 $1.85
30 June 2015 28 August 2015 5.80 $2.09
31 December 2015 29 January 2016 6.00 $2.04
30 June 2016 31 August 2016 6.20 N/A
31 December 2016 30 January 2017 6.40 $2.18

Taxation

Distributions

SCA Property Group is a stapled group comprising a unit in the Shopping Centres Australasia Property Retail Trust (ARSN 160 612 788) (SCA Retail Trust) and a unit in the Shopping Centres Australasia Property Management Trust (ARSN 160 612 626) (SCA Management Trust).

In respect of each income tax year, you will be required to include your share of the net income of the SCA Retail Trust in your assessable income for tax purposes. SCA Property Group will provide unitholders with annual taxation statements in August for the prior tax year.

You should not complete your tax return for the prior tax year before you receive this annual taxation statement.

Distributions from the SCA Retail Trust may include various components, the tax treatment of which may differ. If you are an Australian tax resident and an individual, distributions from the SCA Retail Trust received in August will generally need to be included your tax return for the preceding tax year.

Distributions from SCA Management Trust will be taxed as dividends and may be franked.

Annual Taxation Statement

If you are an Australian tax resident and an individual you will receive an Annual Taxation Statement in August each year. Amounts in this Annual Taxation Statement will generally need to be included in your tax return for the preceding taxation year. Unitholders are advised to rely on the information in the Annual Taxation Statement rather than information that may be displayed in the pre-filling service of the Australian Taxation Office. In particular SCP is aware that for at least some security holders some of the information displayed in the resident pre-filling service of the Australian Taxation Office, including the pre filling information available mainly during the period up to the end of October 2016, for the year ended 30 June 2016, is or maybe incorrect.

You should not complete your tax return for the preceding taxation year until you receive the Annual Taxation Statement.

To obtain your Annual Taxation Statement go to www.investorcentre.com or contact the SCP Information Line on 1300 318 976 (within Australia) (or +61 1300 318 976 outside Australia) to request the Annual Taxation Statement to be sent to you.

Resident withholding tax deductions

If you are classified as an Australian tax resident for Australian tax purposes you will have resident withholding tax deducted on the full amount of your distributions unless you provide your Tax File Number (TFN) or Australian Business Number (ABN). The rate at which TFN withholding tax is deducted can vary from year to year and is currently around 49%.

TFN withholding tax is a refundable credit. That is, if the credit exceeds the tax liability you would otherwise have, it will be refunded to you by the Australian Taxation Office. For further information you should contact your own tax advisor.

Go to www.investorcentre.com in order to provide your TFN or ABN or your bank account or financial institution account information and other details online for your holding. Alternatively contact the SCP Information Line on 1300 318 976 (within Australia) (or +61 1300 318 976 outside Australia) to request the forms to be sent to you.

ATO Fact Sheet

Unitholders may find the ATO fact sheet on the creation of SCA Property Group helpful. Click here to find out more.

Woolworths Limited;VWAP

Registered shareholders in Woolworths Limited on 30 November 2012 received one stapled unit in Shopping Centres Australasia Property Group (SCA Property Group stapled units) for every five Woolworths shares held. The Class Ruling obtained from the ATO in respect of the distribution of SCA Property Group stapled units by Woolworths stated that the value of that distribution for tax purposes was the volume weighted average price (VWAP) of SCA Property Group stapled units over the first five days of trading. This VWAP was $1.4397.

A copy of the Class Ruling is available on the Australian Taxation Office website: http://law.ato.gov.au/pdf/pbr/cr2012-121.pdf

Cost base allocation

A SCA Property Group stapled unit comprises two separate assets for capital gains tax purposes - one unit in Shopping Centres Australasia Property Management Trust and one unit in Shopping Centres Australasia Property Retail Trust. For capital gains tax purposes you need to apportion the cost base of each stapled unit and the proceeds of sale of each stapled unit over the separate assets that make up the stapled unit on a reasonable basis. One generally accepted method of apportionment is on the basis of the relative net assets of the individual entities.

The relative net asset split of the entities is below:

SCA Property Management Trust SCA Property Retail Trust
11 December 2012 0.6% 99.4%
30 June 2013 0.5% 99.5%
31 December 2013 0.0% 100.0%
30 June 2014 0.4% 99.6%
31 December 2014 0.4% 99.6%
30 June 2015 0.1% 99.9%
31 December 2015 0.4% 99.6%
30 June 2016 0.4% 99.6%
31 December 2016 0.4% 99.6%

Australian Tax Guide

Period ended 30 June 2016

Period ended 30 June 2015

Period ended 30 June 2014

Period ended 30 June 2013

November 2012 IPO - Woolworths Limited shareholders

Registered shareholders in Woolworths Limited on 30 November 2012 received one stapled unit in Shopping Centres Australasia Property Group (SCA Property Group stapled units) for every five Woolworths shares held on that date.

Under the relevant privacy legislation neither Woolworths Limited nor the unit registrar were able to provide SCA Property Group with any personal information they previously held for you.

Accordingly if your holding in SCA Property Group is derived from a holding in Woolworths Limited, you must go to www.investorcentre.com in order to provide SCA Property Group with details of your:

  • TFN or ABN
  • bank account or financial institution account information
  • contact details
  • other details online for your holding

Alternatively contact the SCP Information Line on 1300 318 976 (within Australia) (or +61 1300 318 976 outside Australia) to request the forms to be sent to you.