The Charter Hall Long WALE REIT (ASX:CLW) (the REIT) Notice of Meeting to Securityholders dated 10 July 2018, stated that the Responsible Entity of the REIT was in the process of obtaining a Class Ruling and Private Ruling form the Australian Taxation Office (ATO) in relation to the simplification of CLW and the move from three stapled-trusts to two stapled-trusts.
Following discussions with the ATO, the Class Ruling and Private Ruling Applications have been withdrawn by the Responsible Entity.
The tax outcomes for investors as a result of the simplification transaction are contained in the Tax Information Sheet which is located here.
The taxation outcomes are consistent with those outlined in the Notice of Meeting, dated 10 July 2018.
These outcomes are only relevant for CLW investors who were unitholders on 22 August 2018. Securityholders who were not on the register on this date can disregard this Tax Information Sheet.
The Tax Information Sheet has been provided to the ATO and the ATO have given a written undertaking to the Responsible Entity that the ATO will not apply further compliance resources to review the taxation outcomes, in instances where Securityholders adopt the treatment in the Tax Information Sheet.
Investors should consult the Tax Information Sheet and seek independent taxation advice if they are unclear on the taxation outcomes.
Some examples have been prepared to assist investors in applying the tax implications outlined in the Tax Information Sheet. These can be accessed here
As at 30 June 2021.
This material has been prepared by Charter Hall WALE Limited (ABN 20 610 772 202; AFSL 486721) for information purposes only. This website is not an offer to sell or a solicitation or an offer to subscribe or purchase or a recommendation of any securities referred to herein and the information has not taken into account any potential investors' personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice. This document is not an offer or invitation for subscription or purchase of securities or other financial products. Indications of, and guidance on, future earnings and financial position and performance are “forward-looking statements”. Due care and attention has been used in the preparation of any forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Group, that may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Except as required by law, the Group does not undertake any obligation to publicly update or review any forward – looking statements, whether as a result of new information or future events. This information has been made available to the recipient for information purposes only.
Charter Hall WALE Limited does not receive fees in respect of the general financial product advice they may provide, however entities within the Charter Hall Group will receive fees for operating the stapled trusts comprising the Charter Hall Long WALE REIT (Stapled Trusts) which, in accordance with the constitutions, are calculated by reference to the value of the assets of the Stapled Trusts. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to the Stapled Trusts. For more detail on fees, see our latest annual report. To contact us, call 1300 365 585 (local call cost).