The following is intended to provide general information to investors with respect to the dividend paid on 27 October 2023, however investors should seek their own advice:
LCM is incorporated and registered in Australia.
Australian tax resident shareholders
Australian tax resident shareholders should not be subject to withholding tax where they have provided their Tax File Number (TFN). If no TFN is provided, TFN withholding tax at 47% would be withheld and the shareholder may be able to claim this tax as a credit in their tax return.
Foreign shareholders – tax resident of jurisdictions other than Australia
Where the company has sufficient franking credits, the dividend may be fully franked and not subject to withholding tax (WHT) for foreign shareholders. To the extent the dividend is unfranked, WHT is applicable to foreign shareholders at a 30% rate. The rate of withholding tax may be reduced under an applicable tax treaty and a refund obtained from the Australian Taxation Office. Alternatively, foreign shareholders may also be able to claim the WHT as a credit in their local tax return. Please seek independent advice in this regard.
For information on the tax treaty between Australia and the United Kingdom, information can be obtained at the following link Australia: tax treaties – GOV.UK (www.gov.uk)
If you wish to claim any overpaid tax please complete this form 45331_Refund_js33528.pdf (ato.gov.au) together with the required evidence (i.e. certificate of residency, dividend statements etc.) The following website provides guidance on how to apply for a certificate of residence How to apply for a certificate of residence to claim tax relief abroad – GOV.UK (www.gov.uk). LCM takes no responsibility for the process associated with personal tax related matters or any interaction with the tax office in any jurisdiction. Shareholders must seek their own advice with respect to their personal tax affairs and the circumstances which surround them.