Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Australia and New Zealand Banking Group Limited    ANZ   AU000000ANZ3

AUSTRALIA AND NEW ZEALAND BANKING GROUP

(ANZ)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Australia and New Zealand Banking : Application of the Hybrid Mismatch Rules to CN5

share with twitter share with LinkedIn share with facebook
share via e-mail
02/19/2020 | 01:25am EDT

News Release

For Release: 19 February 2020

Application of the Hybrid Mismatch Rules to ANZ Capital

Notes 5

ANZ notes the release of guidance by the Australian Taxation Office (ATO) confirming that it is not planning to take any action at this time regarding an investor's ability to claim franking benefits on hybrid capital securities issued after 9 May 2017, which includes ANZ Capital Notes 5 (CN5) 1.

This guidance follows the release of draft legislation by the Government in December 2019. That draft legislation, if enacted, will allow ANZ to take steps to ensure CN5 holders continue to be entitled to franking benefits.

ANZ currently expects to satisfy those steps.

What do CN5 Holders need to do?

CN5 holders do not need to take any other action at this time in response to the guidance.

For media enquiries contact:

For shareholder enquiries contact:

Stephen Ries

Computershare

+61 409 655 551

1800 11 33 99

+613 9415 4010 (international callers)

Approved for distribution by ANZ's Continuous Disclosure Committee

Background

The guidance referred to above is in response to a possible technical interpretation of the tax hybrid mismatch rules. This interpretation could otherwise disallow a holder of relevant hybrid securities from claiming franking benefits on distributions where the issuer is also entitled to claim an income tax deduction for that distribution in a foreign jurisdiction (notwithstanding that the deduction may represent a very small component of the distribution or may not actually be claimed at all).

A copy of the ATO guidance and the exposure draft legislation is available on the ATO's website at: ato.gov.au/General/New-legislation/In-detail/Other-topics/International/Clarifying-the-operation-of-the-hybrid-mismatch-rules/.

1 All ANZ's other hybrid capital securities currently on issue (ANZ Capital Notes (ANZPD), ANZ Capital Notes 2

(ANZPE), ANZ Capital Notes 3 (ANZPF) and ANZ Capital Notes 4 (ANZPG)) were issued before 9 May 2017, and therefore holders of those securities are not impacted by the issues described in this announcement.

Australia and New Zealand Banking Group Limited 9/833 Collins Street Docklands Victoria 3008 Australia ABN 11 005 357 522

Disclaimer

ANZ - Australia & New Zealand Banking Group Ltd. published this content on 19 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 February 2020 06:22:03 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on AUSTRALIA AND NEW ZEALAND
03/22Australia regulator says banks must provision for virus loan holiday
RE
03/22AUSTRALIA AND NEW ZEALAND BANKING : Change in substantial holding
PU
03/17AUSTRALIA AND NEW ZEALAND BANKING : bluenotes transcript - CEO Shayne Elliott on..
PU
03/16AUSTRALIA AND NEW ZEALAND BANKING : central bank ready to act on 'unprecedented'..
RE
03/16Under water? Banks play home loan lottery as insurers bail out
RE
03/12AUSTRALIA AND NEW ZEALAND BANKING : ANZ reduces variable business loan rates by ..
PU
03/11AUSTRALIA AND NEW ZEALAND BANKING : Notice Corporations Act Subsection 259C(2)
PU
03/11AUSTRALIA AND NEW ZEALAND BANKING : Interest payment - ANZHAR
PU
03/10Citigroup hires Loretta Ko to head financial institution group
RE
03/06AUSTRALIA AND NEW ZEALAND BANKING : ANZ to cut jobs, union says 230 to go
RE
More news
Financials (AUD)
Sales 2020 18 400 M
EBIT 2020 9 502 M
Net income 2020 5 338 M
Debt 2020 -
Yield 2020 9,29%
P/E ratio 2020 8,35x
P/E ratio 2021 8,49x
Capi. / Sales2020 2,38x
Capi. / Sales2021 2,39x
Capitalization 43 876 M
Chart AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
Duration : Period :
Australia and New Zealand Banking Group Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AUSTRALIA AND NEW ZEALAND
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 20,59  AUD
Last Close Price 15,47  AUD
Spread / Highest target 74,5%
Spread / Average Target 33,1%
Spread / Lowest Target -4,40%
EPS Revisions
Managers
NameTitle
Shayne Cary Elliott Chief Executive Officer & Executive Director
David M. Gonski Chairman
Michelle Jablko Chief Financial Officer
Gerard Florian Group Executive-Technology
Paula Jane Dwyer Independent Non-Executive Director