Also, with the demerged gas & oil assets going to Woodside, will any allotment of Woodside shares to NZ resident BHP holders be taxable as a dividend as happened with the previous S32 allotment to BHP shareholders?
Fair enough. Tax treatment of Kiwis owning Ossie shares is appalling enough if we look at the loss of tax credits for dividends. However in this case we would need to pay tax for "receiving" capital we already own, based on an Ossie focussed board making stupid decisions (just caring for themselves I guess). Clearly a good time to vote with the feet.
Discl: sold out some months ago and not looking back ...
That post from 1/5/2015 may be applicable.
Although not relating to BHP, with NZ businesses and companies being bought up, relocating HQ to Australia, or moving their primary listing to Australia, it will be natural for them to consider the needs of their Australian based shareholders in preference rather than the effect of NZ legislation for any remaining NZ resident shareholders.
Suspect the consolidation of the UK PLC listing is also having an effect....
BHP has 5.7% short interest on the ASX. Whereas peers who are more reliant on iron ore earnings have almost no shorts - RIO and FMG. So what’s possibly happened is hedge funds are shorting the ASX, buying UK PLC BHP at a discount and waiting for the PLC to be issued ASX shares to cover and make a small profit.
we never got close to 30 and now we are nearly back to 50. a $NZ2.23 per share payment coming out in a few days. and so we are nearly 10% divi on this broken hill proprietary !!
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