Balcatta, WA

Investor FAQs

What is the Trust’s main source of income?

The Trust’s main source of income is the rent paid by Bunnings and other customers for leasing their respective premises from the Trust. Rent is generally based on the area of the property leased by the tenant, and typically does not have reference to the tenant’s turnover at the premises. Growth in rental income typically comes from acquiring additional leased properties and from increases in rent from existing properties. Rents from existing properties grow as a result of annual incremental rent increases and periodic market reviews in accordance with the lease. Rental growth may also occur when there are upgrades to existing properties, which increase the lettable area.

What are the major expenses incurred by the Trust?

The main items of expense for the Trust are borrowing costs and the fee paid to the responsible entity for managing the Trust. The amount of borrowing costs will be determined by the level of borrowings the Trust has from time to time, and the interest rates and bank costs associated with those borrowings. The level of management fee paid by the Trust depends on the value of the gross assets of the Trust over the period.

How are investment properties valued?

Investment properties are revalued each six months to assess their fair value based on market conditions and the circumstances of each particular property. Changes in the fair value of properties as a result of revaluations are recorded as an unrealised revaluation gain or loss for the period and do not affect distributable profit.

When are Annual Tax Statements distributed to Unitholders?

Our practice is to send out the taxation statement with the annual report in late August at the same time the distribution payment is made.   This is later than most other listed companies because as an investment trust we are subject to different constraints. Due to the fact we pay out 100 per cent of our distributable profit each year, our final distribution can’t be finalised until our accounts are audited, signed off by directors and released to the ASX.   Thereafter we can produce the relevant taxation statements and distribute them. Most listed companies dividend information relates to the prior final dividend and interim dividend, tax statements can be produced immediately after year end.

What are the tax implications for a non-resident Unitholder?

In respect to distribution payments made to non-resident unitholders, the Trust is required to withhold tax under current tax legislation. The respective rate of withholding tax to be withheld varies depending on the type of payment being made and also the respective country of residence of the unitholder.

A brief summary of the withholding requirements and the respective rates can be found at the following ATO website link:

https://www.ato.gov.au/business/international-tax-for-business/in-detail/investing-in-australia/withholding-tax-arrangements-for-managed-investment-trust-fund-payments/

In general terms, the Trust’s distributions are comprised of three components for withholding tax purposes:

1. Interest income component- withholding tax of 10% to be withheld

2. Fund payments component (being all other taxable income, including rental income and capital gains). Withholding tax to be withheld based on the rates mentioned in the provided ATO link

3. Tax deferred component- no withholding tax withheld

In respect to the tax deferred component this is generally non-assessable for Australian income tax purposes, however it may have Australian capital gains tax implications. Generally the tax deferred amount will reduce the cost base of units. For foreign residents only certain assets are subject to CGT.

https://www.ato.gov.au/individuals/international-tax-for-individuals/in-detail/capital-gains/cgt-on-foreign-residents,-temporary-residents-and-changing-residency/?page=1#Foreign_residents

Please note that the above information is provided for general purposes, as we are unable to provide legal or taxation advice on specific circumstances and separate legal and accounting advice should be sought for each individual’s circumstances.

What are the head office contact details?

Responsible Entity - BWP Management Limited
Level 14, Brookfield Place, Tower 2, 123 St Georges Terrace, PERTH WA 6000
Telephone (+61 8) 9327 4356
Facsimile (+61 8) 9327 4344
Email: investorrelations@bwptrust.com.au

What is the name and contact details of the Unit Registry?

Level 11
172 St George's Terrace
Perth Western Australia 6000

GPO Box D182
Perth, Western Australia 6840

Telephone from within Australia: 1300 136 972
Facsimile from within Australia: 1800 783 447

Telephone from outside Australia: +61 3 9415 4323
Facsimile from outside Australia: +61 8 9473 2555

Who are the Company auditors?

KPMG

235 St Georges Terrace
PERTH WA 6000

When is the financial year end?

30 June each year, with the annual results typically announced to the ASX in early August. Refer to the Key Dates of the website for current reporting dates.

How can I obtain a copy of the annual report?

An electronic version of the annual report will be available on this website at the time it is announced to the ASX.

How can I obtain announcements made to the market?

These announcements are available in the ASX Announcements section of our website or by accessing the archive section of the Australian Stock Exchange.

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