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The latest announcement is out from Abacus Property Group ( (AU:ABG) ).
Abacus Property Group has announced that its trusts, Abacus Trust and Abacus Income Trust, are likely to qualify as withholding managed investment trusts starting from July 2025. This change will affect the tax withholding on distributions to non-residents, with a new rate of 15% for countries with an Exchange of Information agreement with Australia, while distributions to Australian-based securityholders remain unaffected. Additionally, the company is evaluating an indicative proposal from Ki Corporation Limited and Public Storage, with an independent board committee formed to assess its merits, although no conclusions have been reached yet.
More about Abacus Property Group
Abacus Property Group is a diversified property group involved in property investment and development. The company operates through various entities including Abacus Group Holdings Limited, Abacus Income Trust, and Abacus Trust, focusing on property management and investment services primarily in Australia.
YTD Price Performance: 5.45%
Average Trading Volume: 791,093
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$1.04B
Find detailed analytics on ABG stock on TipRanks’ Stock Analysis page.