Tax Information

Infigen Structure

Following the stapling restructure implemented on 22 November 2018, as a Securityholder in Infigen Energy (ASX: IFN), you own shares in an Australian company, Infigen Energy Limited (IEL) and units in a trust which is an Australian registered scheme, Infigen Energy Trust (IET). The share in IEL and the unit in IET form a “stapled security” the components of which cannot be separately dealt with or traded.

Taxation laws are complex. The taxation consequences of any investment in Infigen Energy stapled securities will depend on your particular circumstances.

 

Tax Advice

Infigen does not provide individual tax advice. Potential investors and Infigen security holders should obtain their own tax advice in relation to the taxation implications associated with their investment in Infigen. It is recommended that you consult your taxation adviser for advice relating to personal tax issues and in relation to the completion of your income tax returns.

You cannot rely upon the information provided on this site in managing your specific tax affairs.

For matters relating to your specific holdings, please contact Link Market Services on 1800 774 356 (within Australia) or +61 3 8416 6009 (outside Australia).

Tax and Distributions

On 20 June 2019, Infigen announced the recommencement of distributions with a H2/FY19 distribution of 1 cent per stapled security payable in September 2019.

Like previous Infigen distributions, the 2019 distribution paid by IET represents a ‘tax deferred’ amount from a Managed Investment Trust (MIT). Accordingly, there have been no taxable income components distributed to Securityholders as a result of holding an investment in Infigen Energy Stapled Securities during the current year or previous years when distributions have been paid.

If you are an Australian Tax Resident Security Holder the receipt of a tax deferred distribution will reduce the capital gains tax (CGT) cost base, or CGT reduced cost base, of your units in IET, by the amount of the tax deferred distribution. Any such reduction is generally triggered at the end of the income year in which the distribution is received.

The information on your 2019 annual taxation statement will be relevant if and when you dispose of any of your securities in Infigen. The Taxation Statement Guides are intended to assist Securityholders in meeting their Australian tax compliance obligations. Securityholders are not entitled to rely on information contained in the Guides in relation to managing their specific tax affairs and should obtain their own tax advice in relation to the taxation implications associated with their investment in Infigen.

The 2019 Taxation Statement Guide includes general information concerning the tax implications of receiving the 2019 distribution from IET.

Advice relating to your particular tax matters should be obtained from your accountant or other professional adviser.

Tax and the Distribution Reinvestment Plan

Participation in the Infigen Energy Distribution Reinvestment Plan (DRP) for a distribution gives rise to two separate transactions for income tax purposes; firstly, the receipt of a distribution and secondly, a subscription for new stapled securities.

The tax implications associated with receiving the distribution as described above are relevant in respect of the first transaction.

With respect to the issue of new stapled securities, participants in the DRP are taken to have acquired their securities on the date of their issue. The amount paid for the acquisition of the securities (which will become the cost base of the securities for tax purposes) is taken to be the amount of the distributions that would otherwise have been paid to the security holder.

Amount
Period
Declared Date
Ex Date
Record Date
Payment Date
DRP Participation Price

1.0c

FY20 Interim Distribution

16 Dec 2019

30 Dec 2019

31 Dec 2019

27 Mar 2020

$0.45

1.0c

FY19 Final Distribution

20 June 2019

27 June 2019

28 June 2019

27 Sep 2019

$0.64

1.0c

FY11 Interim Distribution

17 Dec 2010

23 Dec 2010

31 Dec 2010

17 Mar 2011

$0.34

2.0c

FY10 Final Distribution

27 April 2010

24 June 2010

30 June 2010

16 Sep 2010

$0.74

4.5c

FY09 Final Distribution

19 June 2009

24 June 2009

30 June 2009

17 Sep 2009

NA

4.5c

FY09 Interim Distribution

17 Dec 2008

23 Dec 2008

31 Dec 2008

18 Mar 2009

NA

7.25c

FY08 Final Distribution

19 June 2008

24 June 2008

30 June 2008

18 Sep 2008

$1.16

7.25c

FY08 Interim Distribution

14 Dec 2007

21 Dec 2007

31 Dec 2007

18 Mar 2008

$1.37

6.25c

FY07 Final Distribution

21 June 2007

25 June 2007

29 June 2007

14 Sep 2007

$1.62

6.25c

FY07 Interim Distribution

18 Dec 2006

21 Dec 2006

29 Dec 2006

9 Mar 2007

$1.63

5.1c

FY06 Final Distribution

21 June 2006

26 June 2006

30 June 2006

29 Sep 2006

$1.36

5.1c

FY06 Interim Distribution

20 Dec 2005

22 Dec 2005

30 Dec 2005

23 Mar 2006

NA

Tax and Capital Gains

As a security holder in Infigen (ASX: IFN), you own shares in an Australian company, Infigen Energy Limited (IEL) and units in a trust which is an Australian registered scheme, Infigen Energy Trust (IET). Each share in IEL and each unit in IET remain separate assets for Australian capital gains tax purposes.

To calculate your cost base for each separate capital gains tax asset, you will need to split the acquisition cost of each stapled security between the three assets. This split needs to be done on a reasonable basis. While it is for you to decide how to split the acquisition cost of your stapled securities you might decide to use the relative proportion of net assets of IEL and IET.

This means that technically you will need to apportion your acquisition cost and your sales proceeds between the shares in IEL and the units in IET. However, in most cases the aggregate of the two separate calculations will produce the same net result as if the disposal were treated as the disposal of a single asset.

The apportionments must be done on a reasonable basis. The information below is provided to assist you in performing the apportionments.

Note that prior to implementation of the stapling restructure on 22 November 2018, Infigen Energy stapled securities comprised three components: a share in IEL, a unit in IET and a share in Infigen Energy (Bermuda) Limited.  Further information regarding the stapling restructure was included in the AGM Notice of Meeting, dated 8 October 2018.

DATE
IEL NET ASSETS %
IEBL NET ASSETS %
IET NET ASSETS %
28 October 2005 0.00 0.46 99.54
31 December 2005 0.00 0.38 99.62
30 June 2006 0.00 0.38 99.62
31 December 2006 0.00 0.29 99.71
30 June 2007 0.00 0.26 99.74
31 December 2007 0.00 0.11 99.89
30 June 2008 0.00 0.00 100.00
31 December 2008 0.00 0.00 100.00
30 June 2009 5.93 0.01 94.06
31 December 2009 4.98 0.00 95.02
30 June 2010 0.00 0.00 100.00
31 December 2010 0.00 0.00 100.00
30 June 2011 0.00 0.00 100.00
31 December 2011 0.00 0.00 100.00
30 June 2012 0.00 0.00 100.00
31 December 2012 0.00 0.00 100.00
30 June 2013 0.00 0.00 100.00
31 December 2013 0.00 0.00 100.00
30 June 2014 0.00 0.00 100.00
31 December 2014 0.00 0.00 100.00
30 June 2015 0.00 0.00 100.00
31 December 2015 0.00 0.00 100.00
30 June 2016 0.00 0.00 100.00
31 December 2016 0.00 0.00 100.00
30 June 2017 0.00 0.00 100.00
31 December 2017 0.00 0.00 100.00
30 June 2018 0.00 0.00 100.00
31 December 2018 0.00 0.00 100.00
30 June 2019 0.00 0.00 100.00
30 June 2020 0.00 0.00 100.00

You should not rely on this information as taxation or financial advice as it may not be applicable to your specific circumstances. Advice relating to your particular tax issues should be obtained from your accountant or other professional adviser.

Receive the latest updates straight to your inbox