AIMS APAC REIT Announces Distribution and Tax Implications: What Investors Need to Know

Key Points:

• Distribution of 2.400 cents per unit for the period from 1 July 2024 to 30 September 2024.
• Record Date: 14 November 2024, Payment Date: 24 December 2024.
• Distribution comprises a taxable income component of 1.910 cents per unit and a capital distribution component of 0.490 cents per unit.
• Tax implications vary based on the type of unitholder.
• Important dates for form submission and record-keeping highlighted.

Details:

AIMS APAC REIT Management Limited has announced a distribution for AIMS APAC REIT (AA REIT) of 2.400 cents per unit for the period from 1 July 2024 to 30 September 2024. The distribution will be paid on 24 December 2024. The Record Date to determine unitholders’ entitlements is set for 14 November 2024 at 5.00 p.m.

The distribution consists of two components:

• Taxable Income Component: 1.910 cents per unit
• Capital Distribution Component: 0.490 cents per unit

The capital distribution component is considered a return of capital and is not subject to income tax. However, it will reduce the cost base of AA REIT units for unitholders liable to Singapore income tax on profits from the sale of AA REIT units.

The taxable income component will not have tax deducted at AA REIT’s level for certain types of unitholders, including individuals, Singapore-incorporated companies, Singapore branches of foreign companies, and specific non-corporate entities registered in Singapore. However, a 10% tax rate will apply to qualifying foreign non-individual unitholders and qualifying foreign funds, provided they meet specific criteria.

Unitholders are required to complete the appropriate sections of the “Declaration for Singapore Tax Purposes Form A” if they fall within certain categories. For units held through depository agents, “Form B” must be completed and submitted. These forms will be sent out on or around 18 November 2024 and must be received by the unit registrar by 5.00 p.m. on 3 December 2024.

Unitholders who hold units under the Central Provident Fund Investment Scheme (CPFIS) or the Supplementary Retirement Scheme (SRS) do not need to submit any forms and will receive a gross distribution paid to their respective accounts.

Important Dates:

• First day of “ex-distribution” trading: 9.00 a.m., 13 November 2024
• Close of AA REIT’s Transfer Books and Register of Unitholders (“Record Date”): 5.00 p.m., 14 November 2024
• Despatch of Form A and Form B: 18 November 2024
• Completed “Declaration for Singapore Tax Purposes Form A and Form B” must be received by: 5.00 p.m., 3 December 2024
• Payment of Distribution: 24 December 2024

Unitholders are advised to consult their tax agents for further clarification on their tax obligations. Should there be any queries, unitholders can contact Ms. Lim Joo Lee at 6309-1050 or via email at investorrelations@aimsapac.com.

Disclaimer:

The value of units of AIMS APAC REIT (“AA REIT”) and the income derived from them may fall as well as rise. The units are not obligations of, deposits in, or guaranteed by AIMS APAC REIT Management Limited (“Manager”) or any of its affiliates. An investment in units is subject to investment risks, including the potential loss of the principal amount invested. This article is for information only and does not constitute an invitation or offer to acquire, purchase, or subscribe for the units. The past performance of AA REIT is not necessarily indicative of future performance. Investors should not place undue reliance on forward-looking statements, which are based on the Manager’s view of future events.