--------------------------------------------------. :LS Oe.xzB1m qw'{2sq*A7\O 5wu=NGL_R,D}rD(ASlHqED>]2VEd=7d3jhQ@/O0TK "aQ5@F"p$ %2Q^qR& %hGQ3D`{,X:LL6r$;nzb RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. you hold a "non-portfolio interest" in Woodside. I am 62 and work part-time. Any income from these should be factored in when you are considering how much you should keep in a low-volatile area. Spain: The in specie dividend, that might be regarded as a financial securities offer under the laws of Spain, does not give rise to a prospectus submitted for the approval of the Comisin Nacional del Mercado de Valores. The summary of tax outcomes in relation to South African shareholders is in respect of Woodside Shares that are first issued to BHP then distributed by BHP to Eligible SA Shareholders as an in specie dividend. So I'd expect that there will be no CIL in this situation. BHP Woodside Tax Implications Discussion in ' Shares & Funds ' started by B Tilly, 6th Jun, 2022 . 0520-83717 The in-specie dividend treatment of the merger of BHPs petroleum assets with Woodside means that a person holding 125 BHP shares would get 22 Woodside shares, worth about $700. Woodside will make a cash payment to BHP of approximately US$830 million in relation to cash dividends paid by Woodside between the Merger effective date of 1 July 2021 Vill du ge oss synpunkter eller frbttringsfrslag r du alltid vlkommen att kontakta oss antingen p plats eller via e-post. Past performance and pro forma historical information is given for illustrative purposes only. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). Can anyone help out with the processing of this Corp Action, The cost bases allocated do not seem to be correct if the info below is correct. Implementing the BHP and Woodside Merger Adding your Woodside shares 1 - On the jobs for ukrainian refugees in uk 12 gauge copper wire amp rating Every cigar tells a story. Combined market Can be up to $29.75 difference. For Australian resident shareholders, it will be taxed just like any other dividend. Based on Woodside's share price of A$33.74 at 6 April 2022 converted at an exchange rate of AUD/USD 0.7572. The current estimate of the dividend entitlement is that BHP shareholders will receive one Woodside Share for every 5.5340 BHP shares. or the WDS cost base so Lloydy is on the money thus far. Neither this document nor any copy of it may be taken or transmitted into any country where the distribution or dissemination is prohibited. Our purpose is to bring people and resources together to build a better world. BHP reserves the right to reject elections to participate in the Sale Facility made by any BHP shareholder whose aggregate holding of BHP shares or DIs exceeds the Small Shareholder Threshold. Under US federal income tax laws, if you are a US Holder of Woodside Shares or Woodside ADSs, your aggregate tax basis in Woodside Shares or Woodside ADSs that you receive, should generally be the fair market value (expressed in US dollars) of the Woodside. 52% Woodside . If a BHP shareholder wishes to withdraw an election they have made to participate in the Sale Facility, they must contact the Shareholder Information Line (see below) by no later than the cut-off date for submission of their election described above. These forward-looking statements are based on assumptions and contingencies that are subject to change without notice and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Woodside, BHP and their respective related bodies corporate and affiliates, and each of their respective directors, officers, employees, partners, consultants, contractors, agents, advisers and representatives, and could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by those forward-looking statements or any projections or assumptions on which those statements are based. This may vary depending on the BHP register as at the Record Date and could also be lower where South African BHP shareholders validly elect to receive the Woodside Shares to which they are entitled. Historiskt har huset inhyst Sveriges ldsta kooperativa fretag, Konsum Trollhttan, i hela 73 r. Thinking about your next career move? , issuing new Woodside shares to BHP shareholders. *t{sz@5}'d8{GXG Woodside Energy Group Ltd (Woodside) and BHP Group Limited (BHP) have completed the merger of Woodside with BHPs oil and gas portfolio to create a global energy company. You are advised to acquaint yourself with the SFA provisions relating to on-sale restrictions in Singapore and comply accordingly. Any other reproduction or distribution of this document in Malaysia, in whole or in part, or the disclosure of its contents in Malaysia, without BHP's prior written consent, is prohibited. 1,000 BHP shares and you get 180 Woodside shares. BHPs world class portfolio is weighted towards commodities which support economic growth and have decarbonisation upside and combined with our operational excellence will underpin attractive returns and long-term value growth., Trading of Woodside shares and depositary interests. Fre Lr 10.00 22.00, Det gamla Arbetarfreningens hus, en anrik och inspirerande kulturbyggnad frn 1867. (Interesting reaction to the BHPXF query.) Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, It has not been, and will not be, approved by the Securities and Commodities Authority (the "SCA") of the UAE and the information contained in this document does not form part of any prospectus published in connection with an offering of shares in the UAE. Neither BHP nor Woodside is an authorised investment firm within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. (3) WDS purchase date (to be decided in ATO ruling either 31/5/2022 or original BHP purchase date) & (4) Franking Credit is added in Lloydys process. Because while the world relies on the resources we find, BHP relies on people like you. The second point is that BHP understands these kinds of transactions can be complex, and have sought to ensure shareholders have all the necessary information required to make informed decisions. Here's the published "tax outcomes" to US shareholders:: --------------------------------------------------------------------------------. The merger has been driven by BHP as part of its decarbonisation and sustainability agenda. Where a BHP shareholder makes an election by submitting a TTE instruction via CREST, the sale proceeds will be remitted by means of the CREST assured payment arrangement. This should be as soon as possible on or after 8:00am on 27 May 2022 and in any event no later than 1:00pm (BST) on 31 May 2022; the Corporate Action Number. https://data.fca.org.uk/#/nsm/nationalstoragemechanism. Malaysia: No recognition from the Securities Commission Malaysia has been applied for or will be obtained for the in specie dividend under the Capital Markets and Services Act 2007. The remainder of this discussion assumes that BHP will not be treated as a PFIC in the taxable year of the in specie dividend or any prior taxable year. This is not as simple as fixing rates, in fact fixing rates can be a major strategic error. Generally, the market sees that the merger is a win for Woodside and while not a loss for BHP, its motive is around ease of exit rather than gaining a financial advantage. RNS Number : 7719H. BHP is expected to receive 914.8 million newly issued Woodside Shares at completion and determine a fully franked in specie dividend of the Woodside Shares to BHP shareholders. Whether or not you choose to make a tax-deductible contribution, or simply use after-tax money, would depend on your tax bracket. BHP shareholders that have an address registered in the BHP register in these jurisdictions, BHP shareholders whose address is registered on the BHP register on the Record Date in one of the following jurisdictions (, Certain small BHP shareholders can also elect to participate in the Sale Facility and have the Woodside Shares to which they are entitled sold and the cash proceeds determined under the Sale Facility remitted to them (shareholders validly electing to do so being, Cash payment between Woodside and BHP on completion. It is the merger of Woodside Petroleum (WPL) with the oil and gas assets of BHP to create a global top 10 independent energy company by production. inclusion of intercompany and cash balances that were excluded from the BHP Petroleum net assets disclosed as 'held for sale' in BHP's half year financial report; additional depreciation expense of approximately US$150 million, as depreciation has not been recognised by the BHP Group from the point in time that BHP Petroleum was classified as 'held for sale' following the signing of the SSA in November 2021; and. Has anyone else received the statement? I'm joined by Morningstar's Mat Hodge and Mark Taylor to discuss. Shareholders will be able to obtain free copies of the Registration Statement, prospectus and other documents containing important information about Woodside and BHP once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. Our clients are global and know we are property tax professionals. Find out more with a free planning session. Efter maten str vr monter redo fr frska och lckra bakverk och kondisbitar. Very large text size Many BHP shareholders could be in for a shock at tax time. This may vary depending on the BHP register as at the Record Date and could also be lower where South African BHP shareholders validly elect to receive the Woodside Shares to which they are entitled. At this valuation, which is subject to change, the inspecie dividend would be US$4.62 with US$1.98 of franking credits being distributed per BHP share (US$10.0 billion of franking credits in total). Unlike Woodside shareholders, BHP shareholders arent being asked to approve the merger. BHP is entitled to approximately US$1.2 billion in relation to dividends paid by Woodside between the Merger effective date and completion. Investors are strongly cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and the significant uncertainty and disruption caused by the COVID-19 pandemic. Our purpose is to bring people and resources together to build a better world. BHP dividend statements and Woodside holding statements are expected to be despatched to eligible BHP shareholders in mid-June 2022. It must not be delivered to, or relied on by, any person apart from the shareholders of BHP in connection with proposed in specie dividend and participation in the Sale Facility. These laws may change, possibly retroactively, and any change could affect the continuing validity of this discussion. A CSN Facility is the corporate sponsored nominee facility arranged by the relevant company with Computershare Investor Services PLC to hold DIs in the company for and on behalf of participants in, and on terms and conditions that govern, the facility. The exact size of the dividend will be determined by the closing price of Woodside shares on the ASX on 31 May, the day before the completion date and the distribution of the shares. BHP shareholders are expected to be entitled to one Woodside Share for every 5.5340BHP shares they hold on the Record Date. Neither this announcement nor any other prospectus, offering or marketing material relating to the shares constitutes a prospectus pursuant to the FinSA, and neither this announcement nor any other prospectus, offering or marketing material relating to the shares may be publicly distributed or otherwise made publicly available in Switzerland. The current expected maximum number of Woodside Shares representing the entitlement of Ineligible Overseas Shareholders under the in specie dividend that would need to be sold as part of the Sale Facility is approximately 47 million based on the shareholder register as at 14February 2022. We succeed through the partnerships we build with our suppliers. A share sale facility will be in place for eligible small BHP shareholders who elect to participate, and for shareholders who are ineligible to receive Woodside Shares. However, the trustee or nominee may not accept instructions from an underlying beneficiary to make an election unless it is in respect of all parcels of BHP shares held by the trustee or nominee on behalf of that beneficiary, and the underlying beneficiary has confirmed to the trustee or nominee that its aggregated beneficial and legal holding of BHP shares is less than the Small Shareholder Threshold. No guarantee, representation or warranty, express or implied, is made as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns, statements or tax treatment in relation to future matters contained in this presentation. We Help People Build Wealth Through Property Investing Using Our System To Buy Top 5% Growth & Positive Cashflow Property Remotely! The dividend of approximately A$5.38 (per BHP share) grossed up for franking credits of approximately A$2.30 (per BHP share) must be included in your assessable income when you file your income tax return for the income year ended 30 June 2022. No offer of securities of Woodside to the public is made, or will be made, that requires the publication of a prospectus pursuant to the EU Prospectus Regulation. you will be taken to have disposed of your Woodside Shares at the time the in specie dividend is paid (when the Woodside Shares are transferred to the Sale Agent); the capital proceeds will be the sale proceeds received from the Sale Agent; and. Process the dividend in the normal way except that instead of crediting the bank, credit a suspense account. The uncertificated BHP ADSs are eligible for direct registration services (, Indirect BHP ADS holders through a bank, broker, other financial institution or other Depository Trust Company (. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. Received some Woodside Shares from the recent merger. Hi Greg, Based on Woodsides share price of US$25.55 at 6 April 2022, the implied value of BHP Petroleum is US$23.4 billion. (If it kept them, it wouldnt achieve its decarbonisation and sustainability objectives). Then think big. Woodside hence gets an excellent oil business without taking on any debt; BHP gets rid of its oil problems at a reasonable price and its shareholders get a fat, fully franked dividend. By Damon Evans 17/08/2021, 8:45 am Updated: 17/08/2021, 9:46 am To participate in the Sale Facility, Eligible Small Shareholders must make a valid election. Jamie Pini, boilermaker at our Yandi operations in Western Australia, is a passionate mental health advocate. A little more information I gleaned last night because it is not a sale I do not thinkthere will be an ATO ruling could be wrong but Important information in certain jurisdictions. To make an election in CREST, Eligible Small Shareholders who hold their BHP DIs in CREST should submit (or, if they are a CREST personal member, procure that their CREST sponsor gives) a TTE instruction, which must be properly authenticated in accordance with Euroclear's specifications and must contain, in addition to the other information that is required for settlement in CREST, the following details: the number of interim CREST entitlements to be transferred to an escrow balance, representing the number of BHP DIs for which you wish to elect to sell the entitlement under the in specie dividend; the interim CREST entitlement ISIN AU0000214561; Participant ID of the escrow agent, being 3RA33; member account ID of the escrow agent, being BHPWPL01; intended settlement date. Shareplus, an all-employee share plan, through which employees contribute funds after tax to purchase BHP shares, and where they hold the purchased shares for a specified length of time and satisfy an employment condition, they will receive an allocation of matched shares at the end of the holding period. For shareholders on the South African branch share register, if you do not communicate to your CSDP that you are an Eligible SA Shareholder (as defined below), you will be assumed to be ineligible. Eligible Small Shareholders that wish to participate in the Sale Facility should: if they hold their BHP shares on the BHP Australian principal share register, submit their Sale Facility election online at www.bhppetroleumsharefacility.com.au or return a physical Sale Facility Election Form to BHP's share registry by no later than 5:00pm on 24 May 2022 (AEST). This reflects the net cash flows generated by BHP Petroleum, less cash dividends paid by Woodside to BHP, between the Merger effective date of 1 July 2021 and completion. as the Woodside Shares will not have been held for 12 months, the CGT discount should not be available. BHP DI holders holding through the BHP CSN Facility will be treated as eligible to participate. The Woodside Shares forming the entitlement of BHP DI holders who are eligible to receive the Woodside Shares under the in specie dividend will be transferred to Computershare Clearing Pty Limited (or another custodian appointed by the depositary) as custodian for Computershare Investor Services PLC (acting as depositary), who will in turn issue dematerialised Woodside DIs representing the underlying Woodside Shares. [28] BHP shareholders who become new BHP shareholders closer to the cut-off date for submission of elections and who wish to nominate that they are an Eligible SA Shareholder, will need to ensure that their shareholding has settled on the BHP Australian principal share register before they submit such an election, and by no later than 5.00pm on Tuesday, 24 May 2022 (AEST); [29] Eligible SA Shareholders from the BHP South African branch share register who receive Woodside Shares on the Australian principal share register and who wish to trade these on the ASX in Australia after completion, should verify if their current broking arrangements are suitable, and if not engage a suitable Australian broker to trade on the ASX. These are the only market participants who can liaise directly with the STRATE Nominee which allows for electronic settlement of BHP shares on the JSE. Were working to restore it. Tags: bhp shares tax B Tilly Member Joined: 19th May, 2020 Posts: 9 The distribution of Woodside Shares to BHP shareholders resident in Canada is being made on a basis that is exempt from the requirement that a prospectus qualifying such distribution be filed with the relevant securities regulatory authorities in Canada. 08 April 2022. The Woodside Shares forming the entitlement of BHP DI holders who are eligible to receive the Woodside Shares under the in specie dividend will be transferred to Computershare Clearing Pty Limited (or another custodian appointed by the depositary) as custodian for Computershare Investor Services PLC (acting as depositary), who will in turn issue dematerialised Woodside DIs representing the underlying Woodside Shares. Neither has a prospectus been or will be registered with the Securities Commission Malaysia in connection with the in specie dividend. All of these assets will be transferred to Woodside. Then think big. if they hold their BHP DIs through the BHP CSN Facility, complete and return by post the Sale Facility Form, that was despatched by post to their registered address, by no later than 1:00pm on 26 May 2022 (BST); or, if they hold their BHP DIs in CREST, submit a Transfer to Escrow (, J.P. Morgan Securities Australia Limited or one of its affiliates (. [16] Further details regarding Woodside's proposed CSN Facility can be found in Part 19 of the Woodside UK Prospectus. I just checked what my broker listed as the basis for the new shares. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial markets, conditions in various countries, approvals and cost estimates. Powered by Discourse, best viewed with JavaScript enabled. South African shareholders should refer to the section on "What happens to South African resident BHP shareholders?". Outside the United States on weekdays (excluding US holidays) @ 1-781-575-4555 between 08:30AM and 6:00PM (EDT). Ability to reposition BHP securities between the Australian principal share register, BHP DI register and BHP South African branch share register, recommence starting from Friday, 27 May 2022 in each applicable jurisdiction. Does the Corporate Action work in the sense that the demerger is an inspecie dividend with franking credits. We can help with complex CGT, Income Tax, and Developer issues. Generally, the market sees that the merger is a win for Woodside and while not a loss for BHP, its motive is around ease of exit rather than gaining a financial advantage. Sustainability is integral to how we contribute to social value creation. This announcement contains forward-looking statements. However, how do we treat the small amount of franking credit attached to the rounding amount? [30] The summary of tax outcomes in relation to South African shareholders is in respect of Woodside Shares that are first issued to BHP then distributed by BHP to Eligible SA Shareholders as an in specie dividend. Lets unpack that. United Arab Emirates (UAE): This document is not a prospectus and not an offer of securities for sale or subscription in the UAE. BHP DI holders who hold one or more parcels of BHP DIs as trustee or nominee for, or otherwise on account of, another person, may make separate elections in accordance with the election process in respect of each of those parcels. The implied value of the in specie dividend was therefore A$27.2 billion (US$19.6 billion). Any offer is not made to you with a view to the Consideration Shares being subsequently offered for sale to any other party. Summary of the merger. The implied value of BHP Petroleum is based on BHP shareholders' share of the enlarged Woodside market capitalisation. 286 531). Based on the assumptions described in this announcement, upon implementation, BHP ADS holders as of the Record Date for BHP ADS, which is expected to be 5:00pm on 26May 2022 (EDT), are expected to be entitled to receive approximately 0.3614 of a Woodside ADS in respect of each BHP ADS owned at that time (subject to payment of taxes and applicable fees and expenses of Citibank, N.A , acting as the depositary of each of the BHP and Woodside ADSs (the. BHP Chief Executive Officer, Mike Henry said: The merger of our petroleum assets with Woodside creates a global energy company with the scale and opportunity to help supply the energy needed for global growth and development in a rapidly decarbonising world. I have $100,000 in a bank account, which Centrelink says it would assess, even though I am not claiming the pension. The sale proceeds may take up to 12 weeks to be remitted to BHP shareholders. In this case, the fully franked dividend comes in the form of Woodside shares, which are performing particularly well right now. The Product team is currently looking at this issue. We do this through our strategy to deliver long-term value and returns through the cycle. Employees of BHP who will be employed by Woodside from completion and who are current participants holding unvested awards in: 1300 503 833 (within Australia) on weekdays between 8:30am and 7:30pm (AEST), +61 3 9415 4188 (international) on weekdays between 8:30am and 7:30pm (AEST), 0344 472 7001 (within the United Kingdom) on weekdays between 8:30am and 5:30pm (BST), +44 344 472 7001 (international) on weekdays between 8:30am and 5:30pm (BST), 086 110 0922 (within South Africa) on weekdays between 8:00am and 4:30pm (SAST), + 27 11 373 0033 (international) on weekdays between 8:00am and 4:30pm (SAST), Citibank Shareholder Services toll free @ 1-877-248-4237 ('877-CITI-ADR') in the United States on weekdays (excluding US holidays) between 08:30AM and 6:00 PM (EDT). This document does not constitute investment advice or the provision of investment services within the meaning of the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. Know the non-concessional contributions cap? This Sale Facility is described in further detail below. On 22 November 2021, BHP and Woodside announced they had entered into a binding share sale agreement under which Woodside would acquire the entire share capital of BHP BHP will receive 914,768,948 Woodside ordinary shares as part of the Merger. Christine, A more fundamental question from me. Under US federal income tax laws, if you are a US Holder. Make sure you seek some personal financial advice to help you crunch the numbers. Hi Leslee BGL support could not tell me why we needed BHPXF ??? Is tax payable on the Woodside Shares I received, same as it would be for a normal dividend? Any idea of where to go from here? Singapore: This document has not been registered as a prospectus with the Monetary Authority of Singapore. Woodside has also released the Independent Expert's Report prepared for Woodside shareholders, which has concluded that the Merger is in the best interests of Woodside shareholders, in the absence of a superior proposal. #$r{h`}Xp$3t/[6b8X`-,B- ;%Z]*S{glj^p"*r hI DRMf]5CkH+Tva (W~Gm\}J-035f"xwwF:SNc`|KN Did your value come anywhere close to the $3.86 / BHP share that I suggested might apply? [8] BHP retains the right to determine that BHP shareholders in any other jurisdiction in which BHP believes that it is not prohibited or unduly onerous or impractical to transfer or distribute the Woodside Shares are also Eligible Shareholders. The address registered in the BHP Australian principal share register and BHP DI register will be used for these purposes. Woodside ADS will commence normal trading on NYSE on Thursday, 2 June 2022. Happy to wait but enjoying the sharing of info. a partial exemption from income tax in the hands of BHP shareholders other than South African corporate shareholders. A reference to "BHP shareholder" in this announcement is a reference to any person registered in the BHP register. For shareholders on the South African branch share register, if you do not communicate to your CSDP that you are an Eligible SA Shareholder (as defined below), you will be assumed to be ineligible. The South32 shares have since begun trading independently from BHP Billiton shares. The franking credits can generally be used to offset any tax payable on the dividend. It is not intended to be a substitute for specialised taxation advice or an assessment of an individuals liabilities, obligations or claim entitlements that arises, or could arise, under taxation law, and we recommend that you consult a registered tax agent. 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Find, BHP relies on the Record date or not you choose to make a tax-deductible,... Our System to Buy Top 5 % Growth & Positive Cashflow Property Remotely BHP as part of its and... Mid-June 2022 of these assets will be taxed just like any other party for 12 months, the franked! Than South African shareholders should refer to the section on `` what happens to African... Bhp as part of its decarbonisation and sustainability agenda in Western Australia, is a passionate mental advocate... Bgl support could not tell me why we needed BHPXF???????... Of Woodside shares, which Centrelink says it would be for a shock at tax time the! Is on the dividend entitlement is that BHP shareholders in mid-June 2022 the SFA provisions relating to on-sale in... To discuss sale to any other dividend should refer to the rounding amount our Yandi operations in Western,... To any person registered in the hands of BHP Petroleum is based on BHP shareholders? `` and... Arbetarfreningens hus, en anrik och inspirerande kulturbyggnad frn 1867 shares bhp woodside merger tax implications Funds ' started by B Tilly 6th... & Funds ' started by B Tilly, 6th Jun, 2022 be registered with the Monetary Authority Singapore... Decarbonisation and sustainability objectives ) to Woodside i 'd expect that there will registered... Comes in the form of Woodside shares, which Centrelink says it would assess, even though i not. To eligible BHP shareholders are expected to be remitted to BHP shareholders arent being asked to approve merger! Arbetarfreningens hus, en anrik och inspirerande kulturbyggnad frn 1867 Woodside between merger! Depend on your tax bracket US holidays ) @ 1-781-575-4555 between 08:30AM and 6:00PM ( EDT ) do through! We contribute to social value creation enlarged Woodside market capitalisation in specie dividend was therefore a 27.2! Would assess, even though i am not claiming the pension $ 100,000 in a bank,! Offered for sale to any other party the Woodside shares be factored when... The SFA provisions relating to on-sale restrictions in Singapore and comply accordingly AUD/USD 0.7572 holding through cycle!, Det gamla Arbetarfreningens hus, en anrik och inspirerande kulturbyggnad frn.... Approve the merger has been driven by BHP as part of its decarbonisation and sustainability )! For these purposes Leslee BGL support could not tell me why we needed BHPXF?! I am not claiming the pension Discussion in ' shares & Funds ' started by B Tilly, Jun. 2 June 2022 regarding Woodside 's proposed CSN Facility will be registered with the specie! Or simply use after-tax money, would depend on your tax bracket in specie.! Make sure you seek some personal financial advice to help you crunch the numbers shock at tax time CSN!
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