Tax Information
Tax Information
Dexus Industria REIT (DXI) (formerly APN Industria REIT) was established and listed on the Australian Securities Exchange on 3 December 2013.
DXI is a stapled group and that means that each DXI Security comprises a unit or a share in each of the entities below that are stapled together, so that an individual unit or share in the entities may not be transferred or dealt with without the others.
- Industria REIT No. 1
- Industria REIT No. 2
- Industria REIT No. 3
- Industria REIT No. 4
- Industria Company No. 1 Limited
For Australian tax purposes the consequences of amounts paid to security holders on their DXI Securities and the consequences of a sale of their DXI Securities requires an analysis of what is happening in respect of each of the four stapled units and one stapled share that make up a DXI Security.
Distributions and tax
Dexus Industria REIT pays distributions quarterly. The Australian tax components of the distributions received each financial year and guidance for Australian tax payers about how to record the distributions received in their tax returns are described in the Attribution Managed Investment Trust Member Annual Statements. Components of your distributions are available below:
Fund Payment Notices
Managed Investment Trusts like Dexus Industria REIT are required to provide specific information about their distributions to the ASX to assist custodians to determine the amount of Australian withholding tax to deduct from on payment to investors. A historical record of these quarterly notices is available in our ASX Announcements section here.
AMIT Fund Payment Notices
31 December 2023 AMIT Fund Payment Notice
30 September 2023 AMIT Fund Payment Notice
30 June 2023 AMIT Fund Payment Notice
31 March 2023 AMIT Fund Payment Notice
31 December 2022 AMIT Fund Payment Notice
30 September 2022 AMIT Fund Payment Notice
30 June 2022 AMIT Fund Payment Notice
31 March 2022 AMIT Fund Payment Notice
Dexus Industria REIT Contact
Tax cost base information
The information below is designed to assist you in completing your tax return when you dispose of your Dexus Industria REIT stapled securities. As each security holder’s particular circumstances is different, we recommend you seek professional advice in relation to the taxation implications of your investment. Whilst every care has been taken in the preparation of this information, Dexus Industria REIT reserves the right to make amendments or corrections to the information.
| Date | Industria Trust No.1 | Industria Trust No.2 | Industria Trust No.3 | Industria Trust No.4 | Industria Company No.1 Limited |
|---|---|---|---|---|---|
| 31 December 2023 | 77.47% | 3.67% | 2.57% | 0.72% | 15.57% |
| 30 June 2023 | 76.61% | 3.55% | 2.77% | 1.88% | 15.19% |
| 31 December 2022 | 77.18% | 3.70% | 2.68% | 1.74% | 14.70% |
| 30 June 2022 | 78.27% | 4.25% | 1.82% | 1.70% | 13.96% |
| 31 December 2021 | 77.60% | 4.56% | 1.89% | 2.51% | 13.44% |
| 30 June 2021 | 76.14% | 4.99% | 2.92% | 2.28% | 13.67% |
| 30 June 2020 | 73.89% | 5.66% | 3.61% | 2.20% | 14.64% |
| 30 June 2019 | 71.82% | 6.32% | 4.12% | 2.48% | 15.26% |
| 30 June 2018 | 72.44% | 6.40% | 4.20% | 2.74% | 14.22% |
| 30 June 2017 | 70.57% | 7.10% | 4.52% | 3.40% | 14.41% |
| 30 June 2016 | 67.27% | 7.37% | 7.20% | 3.67% | 14.49% |
| 30 June 2015 | 66.16% | 7.13% | 6.53% | 4.66% | 15.52% |
| 30 June 2014 | 65.92% | 7.93% | 7.31% | 3.99% | 14.85% |
Cost base of Dexus Industria REIT securities acquired in the Initial Public Offer (IPO)
If you acquired Dexus Industria REIT (formerly APN Industria REIT) securities as part of the Institutional Offer, Broker Firm Offer or the Priority Offer, the cost base per stapled security acquired is $2.00. For capital gains tax purposes this cost base is required to be apportioned between each entity comprising Dexus Industria REIT on a reasonable basis. One possible method of apportionment is on the basis of the relative Net Tangible Assets of the individual entities comprising Dexus Industria REIT at IPO. This is set out below:
| Entity | Allocation ($ per security) |
|---|---|
| Industria Trust No.1 | 1.3564739410 |
| Industria Trust No.2 | 0.1618314471 |
| Industria Trust No.3 | 0.1618314471 |
| Industria Trust No.4 | 0.1014358420 |
| Industria Company No.1 Limited |
0.2750434196 |
| 2.0000000000 |
Cost base of Dexus Industria REIT securities for Australand Wholesale Property Fund 6 (AWPF6) investors who elected to retain securities
If you were an AWPF6 investor that elected to retain some or all of your securities, the establishment steps to create Dexus Industria REIT will mean that you are required to allocate your existing cost base of AWPF6 across each entity comprising Dexus Industria REIT. This is illustrated via the following steps:
Step 1 – Return of capital and subscription for new securities
AWPF6 investors that elected to retain some or all of their securities received a return of capital from Industria Trust No.1 (formerly Australand Wholesale Property Trust No.6 (AWPT6)) and Industria Trust No.2 (formerly Australand Wholesale Property Trust No.6A (AWPT6A)) which was then compulsorily applied to subscribe for new units in Industria Trust No.3 and Industria Trust No.4 and new shares in Industria Company No.1 Limited. This step is set out below:
| Entity | Return of capital per AWPT6 Unit ($ per security) |
Return of capital per AWPT6A Unit ($ per security) |
Compulsory acquisition of Dexus Industria REIT securities ($ per security) |
|---|---|---|---|
| Industria Trust No.1 (formerly AWPT6) | -0.2115541042 | ||
| Industria Trust No.2 (formerly AWPT6A) | -0.0252390450 | ||
| Industria Trust No.3 (formerly WDPP) | 0.0517221358 | ||
| Industria Trust No.4 (formerly BTPC) | 0.0498641917 | ||
| Industria Company No.1 Limited (formerly ADHPL) | 0.1352068216 | ||
| -0.2115541042 | -0.0252390450 | 0.2367931492 |
As a result of the above step you may have realised a capital gain on the formation of Dexus Industria REIT if the aggregate of the capital return made (refer above) exceeded the reduced tax cost base of your investment in AWPT6 and AWPT6A units. Your reduced tax cost base is determined as the acquisition price paid for AWPT6 and AWPT6A units, less any tax deferred distributions or capital returns previously paid. We recommend that you contact your accountant or taxation adviser on this matter.
Step 2 – Subdivision of Units in the Trusts and Shares in Industria Company No.1 Limited
Following the completion of Step 1 above, a number of unit and share subdivision and consolidation steps occurred such that AWPF6 investors ultimately received 0.4915835539 units (rounded up) in Dexus Industria REIT for every AWPF6 security an investor elected to retain. As an example, if you elected to ‘roll over’ 10,000 AWPF6 securities you will have received 4,916 Dexus Industria REIT stapled securities.
As a result of the completion of the subdivision and consolidation steps described above, the resultant tax cost base will need to be reallocated proportionately across the revised number of units and shares in Dexus Industria REIT. This can be determined by dividing the tax cost base of each Trust or Company calculated after the completion of Step 1 by 0.4915835539.
Illustrative example
The above steps 1 and 2 are set out in the following illustrative example:
| Assumptions | |
|---|---|
| Initial holding (stapled AWPF6 securities all converted to Dexus Industria REIT securities) | 10,000 |
| Dexus Industria REIT securities owned post conversion | 4,916 |
| Acquisition value (per stapled AWPF6 security) | $1.0000 |
| Tax Cost Base assumptions | AWPT6 | AWPT6A | |
|---|---|---|---|
| Assumed relative NTA allocation on acquisition date | A | $0.9000 | $0.1000 |
| Assumed tax deferred distributions and returns of capital received | B | $0.2037 | $0.0258 |
| Assumed reduced tax cost base | C = A-B | $0.6963 | $0.0742 |
| Illustrative Tax Cost Base calculation | AWPT6 (renamed to Industria Trust No.1) | AWPT6A (renamed to Industria Trust No.2) | Industria Trust No.3 | Industria Trust No.4 | Industria Company No.1 Limited | |
|---|---|---|---|---|---|---|
| Acquisition | $0.9000 | $0.1000 | - | - | - | |
| Assumed tax deferred distributions received | ($0.2037) | ($0.0258) | - | - | - | |
| $0.6963 | $0.0742 | - | - | - | ||
| Step 1: Returns of Capital and subscription for new securities | ($0.2116) | ($0.0252) | $0.0517 | $0.0499 | $0.1352 | |
| D | $0.4848 | $0.0489 | $0.0517 | $0.0499 | $0.1352 | |
| Step 2: Unit and share subdivision / consolidation – division factor | E | 0.4915835539 | 0.4915835539 | 0.4915835539 | 0.4915835539 | 0.4915835539 |
| F = D/E | $0.9862 | $0.0995 | $0.1052 | $0.1014 | $0.2750 |