Thursday, November 14th, 2024

Frasers Hospitality Trust Announces 1.1682 Cents Distribution for H2 2024 – Key Dates and Tax Information








Frasers Hospitality Trust Announces Distribution and Tax Implications

Frasers Hospitality Trust Announces Distribution and Tax Implications

Frasers Hospitality Trust (FHT), a stapled group comprising Frasers Hospitality Real Estate Investment Trust (FH-REIT) and Frasers Hospitality Business Trust (FH-BT), has announced important updates regarding its distribution for the period from April 1, 2024, to September 30, 2024.

Key Distribution Details

FHT will distribute 1.1682 Singapore cents per stapled security for the specified period. The distribution components are as follows:

  • Taxable income component: 0.4441 cents
  • Tax-exempt component: 0.3996 cents
  • Capital component: 0.3245 cents

It is important to note that there will be no distribution from FH-BT for this period.

Tax Implications for Shareholders

For Singapore income tax purposes, the components making up a stapled security are recognized separately. The tax-exempt and capital components are exempt from Singapore income tax, while the taxable income component may have tax deducted at source under certain conditions:

  • Individuals holding stapled securities in their sole names or jointly with other individuals.
  • Singapore-incorporated and tax-resident companies.
  • Singapore branches of foreign companies and various bodies of persons incorporated or registered in Singapore.
  • International organizations exempt from tax by specific orders.
  • Real estate investment trust exchange-traded funds with tax transparency treatment.

Qualifying foreign non-individual investors and foreign funds may receive distributions net of tax deducted at 10%, provided they complete the necessary tax declaration forms.

Important Dates and Deadlines

Shareholders should be aware of the following critical dates:

  • November 19, 2024: Stapled securities will be traded ex-distribution.
  • November 20, 2024: Transfer books and register of stapled securityholders will close at 5.00 p.m.
  • November 25, 2024: Dispatch of tax declaration forms.
  • December 5, 2024: Deadline for submitting completed tax declaration forms by 5.00 p.m.
  • December 27, 2024: Payment of distribution.

Shareholder Actions Required

Shareholders must complete and return the “Declaration for Singapore Tax Purposes Form A (and its annexes)” and “Declaration by Depository Agents for Singapore Tax Purposes Form B (and its annexes)” to Boardroom Corporate & Advisory Services Pte. Ltd. by December 5, 2024, to receive their distribution either gross or net of tax at 10%.

Distribution Policy

FH-REIT aims to distribute 100% of its distributable income until September 30, 2015, and at least 90% thereafter. FH-BT will distribute as much of its income as practicable, with the declaration and payment of distributions at the sole discretion of its Board of Directors.

Important Reminder

Boardroom Corporate & Advisory Services Pte. Ltd. will dispatch the relevant forms to stapled securityholders around November 25, 2024. Shareholders and depository agents must complete and return these forms by December 5, 2024, to receive the distribution at either gross or net (after deduction of tax at 10%) as described.

Disclaimer: The value of the stapled securities in FHT and the income derived from them may fall or rise. Investments are subject to risks, including the loss of the principal amount invested. Investors should seek independent advice if necessary.


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