GNE - Genesis Energy

[BlackPeter]

Maybe I am just too early to do my paperwork ... but here is a dumb question:

Do we need to pay taxes on the shortfall bookbuild premium payment? It's not a dividend, isn't it, and we didn't even sell a share (i.e. its not a sales profit either)?

Anybody knows?

[Basil]

Its crystal clear to me its a capital repayment and non taxable.  The fact that RWT was not deducted tells you all you need to know.

[lorraina]

Might put today's regular dividend and my bonus 17 cps dividend towards an EV.

Have you received your "bonus" 17cps, yet .?
Wife's is not showing up in her a/c this morning.
Divie went through OK.

[Basil]

Yes it came through yesterday.

[BlackPeter]

Its crystal clear to me its a capital repayment and non taxable.  The fact that RWT was not deducted tells you all you need to know.

cheers - all good.

[BlackPeter]

Have you received your "bonus" 17cps, yet .?
Wife's is not showing up in her a/c this morning.
Divie went through OK.

Have two different accounts, and both got their payments yesterday (ANZ as well as ASB). Maybe just a slower bank?

[lorraina]

Thanks for your reply.
Wife has a Westpac Savings a/c but it is not accessible online.
I get her balance via an ATM.

[raW tent Buffer]

Thanks for your reply.
Wife has a Westpac Savings a/c but it is not accessible online.
I get her balance via an ATM.

I find it very hard to believe that a Westpac account is not accessible online...

[lorraina]

But wait there's more.
Wife can not use a computer,and I can not use a cell phone..

[Otago K]

Thanks for your reply.
Wife has a Westpac Savings a/c but it is not accessible online.
I get her balance via an ATM.

If it's significant I might be inclined to proactively inquire of Westpac, don't give them cause for alarm, but I understand there maybe currently a few more international led banking expectations being imposed on the banking systems and some things may not function quite as seamless as they once did. It maybe somehow flagged as different to a standard dividend would be and now being a non transactional account as recipient uses a savings account it maybe set aside for some sort of review before release. Ultimately it maybe best to let Westpac go through their processes, yet wouldn't hurt to ensure they are aware of it being a normal legitimate transaction received. In past a few horror stories arise internationally where caution seems to be paranioa on bank staff part and leaves long term clients effectively shut out of the banking system totally, hope NZ Banks don't replicate. FATCA AML isn't a one and done thing as I had once hoped.

[winner (n)]

Thanks for your reply.
Wife has a Westpac Savings a/c but it is not accessible online.
I get her balance via an ATM.

So ATMs still exist ...thought they were a relic of the past

[777]

Thanks for your reply.
Wife has a Westpac Savings a/c but it is not accessible online.
I get her balance via an ATM.

All accounts are accessable on line if you have access set up correctly.

[Stoploss]

So ATMs still exist ...thought they were a relic of the past

RBNZ doesn't think so ....
https://newsroom.co.nz/2026/03/03/reserve-bank-drifts-out-of-its-lane-again/