24
Arkus PDS
Acquiring, holding and disposing of Units or investments in managed investment schemes can have important taxation implications for Investors. The following is a general summary of current tax legislation applicable to Australian resident taxpayers. It is provided as general information only and should not be relied upon. This information is general in nature because the tax implications for each Investor may vary depending on their particular circumstances. Accordingly, as tax requirements are complex you should obtain professional advice on your circumstances. The Fund does not pay income tax. Investors are responsible for declaring their Distributions from the Fund. Where you are an Australian resident for tax purposes, you will need to include in your taxable income for the year any taxable income arising to you even if it is reinvested or if payment is not received in that year. It is not expected that you will receive any distributions of net capital gains. You will be given an annual tax statement setting out information to assist with this process. Where you are a non-resident of Australia for taxation purposes, the applicable withholding tax will be deducted from each Distribution at the time of payment. the day-to-day operation of the Fund from its management fees. If unusual or extraordinary expenses are incurred, such as the costs of holding Investor meetings, defending or bringing litigation and other abnormal expenses, GPS may recover such expenses from the assets of the Fund. GPS does not expect any abnormal expenses to be incurred during the life of this PDS and, as a result, no amount has been included in the management costs estimate in the above table. Expenses associated with a loan, such as legal and valuation costs etc., are paid by the Borrower. Buy/sell Spreads and Transaction Costs GPS does not currently charge buy/sell spreads for the Fund or Transaction Costs when Investors buy or sell Units in the Fund.
Transfer Fee
to the Fund for any transfer of Units. Wholesale Clients
Providing a Tax File Number (“TFN”) or Australian Business Number (“ABN”) You may choose to quote your TFN or ABN (if applicable) or claim exemption in relation to your investment in the Fund by completing the Tax File Number or Australian Business Form accompanying this PDS. The law strictly regulates how GPS may use TFNs and ABNs. If you choose not to provide your TFN or ABN or claim an exemption, tax at the highest personal tax rate (plus the Medicare levy and, where relevant, the Temporary Budget Repair Levy) must be deducted from each Distribution at the time of payment. GST The GST disclosures in this PDS are of a general nature only. GST is not payable on the issue of Units to you, Distributions to you or withdrawal of your Units. You do not need to be registered for GST to invest in the Fund. Fees and expenses payable in respect of the management of the Fund are subject to GST. Disposal of Units or investments in the Fund Investors should seek their own tax advice regarding disposal or transfer of their Units or investments in the Fund. GPS may negotiate a rebate of part of the management fees with Wholesale Investors. This is generally because Wholesale Investors invest substantial amounts of money. GPS cannot negotiate individual fee arrangements with Investors who are not Wholesale Investors. by Wholesale Investors will be calculated based upon the amount of funds the Wholesale Investor has invested. Any reduction in fees will be deducted from GPS’s management fee and not from the assets of the Fund. Reliance on Class Order Class order 14/1252 applies to this PDS.
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