Line Trust South Canterbury

Dividend

Each year The LineTrust pays out 90% of its profits to consumers as a credit on thier electricity account. If you’re the person whose name was on the power bill on 10 August 2011 and you live in the Trust District, you’re probably in line for an annual payout. These dividends go straight into the South Canterbury economy. This is a direct result of the Trusts shareholding in Alpine Energy.

---

Trust Distribution for the year ended 31 August 2011

Consumers’ electricity accounts will have been credited with the distribution in December/January.

The tax certificate for each payment of the 2011 dividend is as follows:

For commercial consumers not included in these categories the distribution received is fully imputed to 30%.
Please retain this statement for taxation purposes.
T M Simpson
SECRETARY

FAQs

What does the Trust do with its profits?

The Trustees distribute the 90% of its profits, after deducting the Trust’s running expenses, by arranging a credit on consumers’ electricity accounts. 

How much is the 2011 dividend?

The payment is $48.60 net per domestic customer in December 2011 

When is the dividend paid? 

In December as a credit on consumers' elecricity accounts, just in time for Christmas

Who receives the dividend?

Any consumer of the LineTrust within the South Canterbury region

What is the tax situation, do I have to pay tax on this money?

As required by the IRD, the dividend payout has already been taxed at a level of 33%. If you are on a lower tax rate you may be entitled to a refund of tax paid on this dividend if you file a return. For more information you should contact your tax advisor, visit Inland Revenue website www.ird.govt.nz. or call Inland Revenue on 0800 227 774 

Why is the eligibility date for the dividend set as 10 August 2011?

 We need to make a list of everyone who is eligible for the payout, and it is done on one day to ensure the list is fairly and fully compiled.