Resmed .... domiciled in USA and listed as common stock on NYSE as home exchange. Asx listing is via CDI and afaik 10 CDI for Resmed == 1 NYSE Resmed shares Dividends are considered Foreign Income to Aust Taxpayers who can claim a nonrefundable ATO rebate for any US with-holding tax deducted. US with-holding tax for Aust resident taxpayers is 15% IF you have lodged a US form W-8BEN, otherwise 30% There are no attached (Aust) franking credits.
One thing that ‘pops’ up from this is the division of the tax take between USA & Aust. Lets assume Aust taxpayer is on 30c/$ (30%) Aust marginal tax rate. Lodge a W-8BEN form and 15% tax goes to US and an additional 15% goes to Aust (30% Aust Tax -15% Foreign Tax rebate for US tax paid). No W-8BEN lodged ... 30% tax goes to US, NO tax goes to Aust ( 30% Aust tax - 30% ForeignTax rebate for US tax paid).
I think that Newcorp (Allkem & Livent merger) would end up being quite similar in the way these matters are treated.
from Resmed annual report ”ResMed Inc., a Delaware corporation, was formed in March 1994 as the ultimate holding company for our operating subsidiaries. In June 1995, we completed an initial public offering of common stock and our common stock began trading on the NASDAQ National Market. In September 1999, we transferred our principal listing to the New York Stock Exchange, or NYSE, trading under the ticker symbol “RMD”. In November 1999, we established a secondary listing of our common stock via Chess Depositary Instruments, or CDIs, on the Australian Stock Exchange (now known as the Australian Securities Exchange), or ASX, also under the symbol “RMD”. Ten CDIs on the ASX represent one share of our common stock on the NYSE. ”
AKE Price at posting:
$15.14 Sentiment: Hold Disclosure: Held
