MIT notices

December 2018 distribution

None of the distribution of 5.20 cents per unit paid by SAT1 on 14 February 2019 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 5.1933 cents consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to withholding tax at the appropriate rate under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953.

June 2018 distribution

None of the distribution of 5.10 cents per unit paid by SAT1 on 14 August 2018 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 5.0958 cents consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes may be subject to withholding tax at the appropriate rate under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953.

December 2017 distribution

None of the distribution of 5.45 cents per unit paid by SAT1 on 14 February 2018 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 5.4174 cents consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes may be subject to withholding tax at the appropriate rate under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953.

June 2017 distribution

None of the distribution of 5.35 cents per unit paid by SAT1 on 14 August 2017 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 5.3401 cents consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to withholding tax at the appropriate rate under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953.

December 2016 distribution

None of the distribution of 5.45 cents per unit paid by SAT1 on 14 February 2017 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. All of that distribution consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to withholding tax at the appropriate rate under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953.

June 2016 distribution

None of the distribution of 5.45 cents per unit paid by SAT1 on 12 August 2016 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 5.4100 cents consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to withholding tax at the appropriate rate under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953.

December 2015 distribution

None of the distribution of 5.55 cents per unit paid by SAT1 on 12 February 2016 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 5.5161 cents consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to withholding tax at the appropriate rate under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953.

June 2015 distribution

None of the distribution of 5.4 cents per unit paid by SAT1 on 14 August 2015 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 5.3907 cents consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to withholding tax at the appropriate rate under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953.

December 2014 distribution

None of the distribution of 5.45 cents per unit paid by SAT1 on 12 February 2015 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 5.4358 cents consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to withholding tax at the appropriate rate under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953.

June 2014 distribution

None of the distribution of 5.5 cents per unit paid by SAT1 on 15 August 2014 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. The whole of the 5.5 cents of the distribution consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to withholding tax at the appropriate rate under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953.

December 2013 distribution

This is a pro-forma notice using 1 unit as a basis. For example if you held 10,000 stapled securities, your fund payment for the distribution paid on 14 February 2014 is $117.46 [10,000 x 0.01174579].

Notice from managed investment trust re “fund payment”

The Trust Company (Sydney Airport) Limited (TTCSAL), the responsible entity for Sydney Airport Trust 1 (SAT1), considers that the trust is a managed investment trust¹ in relation to its income year ended 31 December 2013, and gives the following notice² to relevant recipients of a distribution payment of 9.5000 cents per unit paid by SAT1 on 14 February 2014:

  1. the fund payment, being the part of the payment from which an amount would have been required to be withheld under Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953 if the payment had been made to an entity covered by section 12-410 of that Schedule, is 1.174579 cents per unit
  2. the fund payment was not worked out by reference to any discount capital gain³
  3. the fund payment the subject of this notice relates to the income year of SAT1 ended on 31 December 2013.

TTCSAL also notes that, where the payment of 9.5000 cents per unit is being made by it direct to a foreign resident, TTCSAL is treating the following parts of the payment as being subject to withholding tax at appropriate rates under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953:

      Australian-sourced interest income       0.540572 cents per unit

¹ for the purposes of section 12-395 of Schedule 1 to the Taxation Administration Act 1953, as relevant for SAT1
² for the purposes of section 12-415 of Schedule 1 to the Taxation Administration Act 1953, as relevant for SAT1
³ capital gains derived by SAT1 during the year ended 31 December 2013 did not relate to taxable Australian property.

June 2013 distribution

None of the distribution of 11 cents per unit paid by SAT1 on 16 August 2013 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 7.2679 cents consists of Australian sourced interest income, and 0.2553 cents consists of Australian unfranked dividend income (non-CFI) which, when paid to a non-resident of Australia for tax purposes, are subject respectively to interest withholding tax at 10% and to dividend withholding tax at the rate relevant for the particular non-resident payee.

December 2012 distribution

None of the distribution of 10 cents per unit paid by SAT1 on 14 February 2013 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 7.4857 cents consists of Australian sourced interest income, and 0.2469 cents consists of Australian unfranked dividend income (non-CFI) which, when paid to a non-resident of Australia for tax purposes, are subject respectively to interest withholding tax at 10% and to dividend withholding tax at the rate relevant for the particular non-resident payee.

June 2012 distribution

None of the distribution of 11 cents per unit paid by SAT1 on 16 August 2012 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. Of that distribution, 7.1839 cents consists of Australian sourced interest income, and 0.2251 cents consists of Australian unfranked dividend income (non-CFI) which, when paid to a non-resident of Australia for tax purposes, are subject respectively to interest withholding tax at 10% and to dividend withholding tax at the rate relevant for the particular non-resident payee.

December 2011 distribution

None of the distribution of 10 cents per unit paid by SAT1 (previously MAT1) on 16 February 2012 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. 5.1212 cents of the distribution consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to interest withholding tax at 10%.

June 2011 distribution

None of the distribution of 11 cents per unit paid by MAT1 on 18 August 2011 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. 5.7886 cents of the distribution consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to interest withholding tax at 10%.

December 2010 distribution

Note for custodians and other intermediaries: None of the distribution of 10 cents per security paid by MAp (8.3980 cents per MAT1 unit and 1.6020 cents per MAIL share) on 17 February 2011 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. 8.2254 cents of the MAT1 distribution consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to interest withholding tax at 10%.

October 2010 special distribution

Note for custodians and other intermediaries: As the distribution paid on 21 October 2010 of 12.5 cents per unit is paid by MAIL (a company), none of the distribution is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953.

June 2010 distribution

None of the distribution of 11 cents per unit paid by MAT1 on 18 August 2010 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953. 5.8972 cents of that distribution consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to interest withholding tax at 10%.

December 2009 distribution

Note for custodians and other intermediaries: As the distribution paid on 18 February 2010 of 8 cents per unit is paid by MAIL (a company), none of the distribution is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953.

June 2009 distribution

Note for custodians and other intermediaries: 4.6069 cents of the 13 cent per unit distribution paid by MAT1 on 19 August 2009 consists of Australian sourced interest income, which when paid to a non-resident of Australia for tax purposes is subject to interest withholding tax at 10%. None of the distribution of 13 cents per unit paid by MAT1 on 19 August 2009 is a fund payment for the purposes of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953.

December 2008 distribution

This is a proforma notice using 1 unit as a basis. For example if you held 10,000 stapled securities your fund payment for the distribution paid on 19 February 2009 is 1 cent [10,000 x 0.0001].

Please note: the notices below are historical and therefore include references to entities that have changed their names. MAML is now MAp Airports Limited and MAT(1) is now MAp Airports Trust 1.

Notice from managed investment trust re “fund payment”

Macquarie Airports Management Limited (MAML), the trustee of Macquarie Airports Trust (1) (MAT1), considers that the trust is a managed investment trust¹ in relation to its income year ended 31 December 2008, and gives the following notice² to relevant recipients of a distribution payment of 14.0000 cents per unit paid on 19 February 2009:

  1. the fund payment, being the part of the payment from which an amount would have been required to be withheld under Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953 if the payment had been made to an entity covered by section 12-410 of that Schedule, is 0.0001 cents per unit;
  2. the fund payment was not worked out by reference to any discount capital gain³
  3. the fund payment the subject of this notice relates to the income year of MAT(1) ended on 31 December 2008.

MAML also notes that, where the payment of 14.0000 cents per unit is being made by it direct to a foreign resident, MAML is treating the following parts of the payment as being subject to withholding tax at appropriate rates under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953:

Australian-sourced interest income 7.3802 cents per unit Unfranked parts of (non-CFI) Australian dividends 3.7247 cents per unit

June 2008 distribution

This is a proforma notice using 1 unit as a basis. For example if you held 10,000 stapled securities your fund payment for the distribution paid on 19 August 2008 is 1 cent [10,000 x 0.0001].

Notice from managed investment trust re “fund payment”

Macquarie Airports Management Limited (MAML), the trustee of Macquarie Airports Trust (1) (MAT1), considers that the trust is a managed investment trust¹ in relation to its income year ending 31 December 2008, and gives the following notice² to relevant recipients of a distribution payment of 13.0000 cents per unit paid on 19 August 2008:

  1. the fund payment, being the part of the payment from which an amount would have been required to be withheld under Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953 if the payment had been made to an entity covered by section 12-410 of that Schedule, is 0.0001 cents per unit;
  2. the fund payment was not worked out by reference to any discount capital gain;
  3. the fund payment the subject of this notice relates to the income year of MAT(1) ending on 31 December 2008.

MAML also notes that, where the payment of 13.0000 cents per unit is being made by it direct to a foreign resident, MAML is treating the following parts of the payment as being subject to withholding tax at appropriate rates under Subdivision 12-F of Schedule 1 to the Taxation Administration Act 1953:

Australian-sourced interest income             3.9624 cents per unit
Unfranked parts of (non-CFI) Australian dividends            0.2012 cents per unit

¹. for the purposes of section 12-395 of Schedule 1 to the Taxation Administration Act 1953, as relevant for MAT(1)
². for the purposes of section 12-415 of Schedule 1 to the Taxation Administration Act 1953, as relevant for MAT(1)
³. capital gains derived by MAT (1) during the year ended 31 December 2008 did not relate to taxable Australian property.