Hawke’s Bay Power Consumers’ Trust (HBPCT) 2021 Dividend Payment – FAQ

Q: How does the Trust dividend work?

A: The dividend is paid to all consumers on Unison’s electricity network in the Hawkes’s Bay district as at 30 September 2021.

Q: What is the eligibility date?

A: This year the eligibility date is 30 September 2021.

Q: Am I entitled to a dividend payment? / Do I qualify for a payment?

A: All permanent metered supply points (ICPs) connected to Unison’s Hawke’s Bay network, and which are liable for a fixed daily charge as at 5pm 30 September 2021, are entitled to a dividend payment. There is a maximum of three payments for any one named consumer (even if you have more than three ICPs).

Note: Builder’s temporary supplies, and other unmetered connections such as streetlights, telecommunications devices, and under-veranda lighting are excluded.

Q: How much will the dividend be?

A: This year the dividend is the same for all ICPs (regardless of whether it is a commercial or a domestic installation) and is $230 after tax. This amount was decided by the HBPCT.

Q: How is the payment amount calculated?

A: The amount is calculated by the Trust from the dividend it receives as majority shareholder of Unison Networks Ltd. A dividend from Unison’s profits is paid to the Trust by Unison and most of this is passed on by the Trust to our beneficiaries.

Q: I signed up for direct credit last year – do I need to re-register?

A: On Monday 18 October, you will receive an email asking you to confirm if the bank account details you provided last year are still correct. If everything is correct, you don’t need to do anything. If you have changed your bank account, please click the link to update your details online by Friday 19 November at 11.59pm.

Q: What happens if I don’t reconfirm my details?

A: Your payment will be made to the bank account you provided last year. If the bank account is incorrect the bank will dishonour the payment and return this to the Trust within 5 business days. We will do our best to get in touch with you when we become aware of the dishonour. If you haven’t received payment by Wednesday 1 December, please call on 0800 535 738.

Q: When will I receive my dividend payment?

A: Direct credit payments will be made on Friday 26 November by direct credit into your bank account. Please be patient, however if you haven’t received payment by Wednesday 1 December, please call Link on 0800 535 738.

Q: Where do I find My ICP Number?

A: Your ICP number is a 15-character alpha/numeric number located on your power bill. If you cannot find the ICP on your power bill, please contact your power retailer.

Q: How will I receive my dividend payment?

A: This year, because banks do no longer receive or issue cheques, all dividends will be paid by direct credit into your bank account. This is the only option available.

• If you previously registered for direct credit, you will receive an email and/or text message on Monday 18 October asking you to confirm your bank account details are correct.
If you don’t confirm your details, your payment will be made to the bank account you provided last year. If you haven’t received payment by Wednesday 1 December, please call Link on 0800 535 738.

• From Monday 18 October all beneficiaries who did not register for direct credit last year will be mailed a 4-digit pin number and the steps on how to register. This will allow you to go online, register your details and have your dividend paid directly to your bank account. If you provide your bank account details by Friday 19 November, you will receive your payment by direct credit on Friday 26 November.

• If you do not supply your bank account details by Friday 19 November, your payment will be withheld until such time written confirmation of your bank account has been received. You can still register your details online, but payments to beneficiaries supplying bank account details after 19 November will be made fortnightly after 26 November, with the first such payment scheduled for 10 December.

• The name on the bank account must match the name on your power account. If you need to change the name on the power account, please contact your electricity retailer.

Q: My dividend was to be direct credited, and I have received a payment advice, but the money isn't there yet. What do I do?

A: Make sure the bank account number shown on your payment advice is correct. If this is not correct, we need to investigate to see if the bank dishonoured the payment and rejected it back to the Trust’s bank account.
If it is correct, you need to ask your bank if it is possibly sitting in a UPI (unpaid items) account with the bank. This sometimes happens if your bank couldn’t process the payment right away.

Q: What if I have moved?

A: If you have not placed a redirection order with NZ Post, and you did not provide an email address previously, your dividend communication will be returned to us. If you have moved to another property in our coverage area, we should be able to locate your forwarding address and re-send the dividend communication to your new address.

Alternatively, if you have moved recently and wish to advise us of your new address, please email hbpct@linkmarketservices.com. This year the Trust has also sent communications by email, so we recommend checking the email address where your power bill is sent.

Q: What if I’m on pre-power (Glo-Bug etc)?

A: You will follow the same process as those who are not on pre-pay. All pre-pay beneficiaries – who did not sign up for direct credit last year – will be mailed a registration card from Monday 18 October with a four digit pin to enable them to register online at www.hbpct.co.nz/register. Pre-pay beneficiaries who registered for direct credit last year will be sent a email asking them to confirm their details by Friday 19 November.

Q: I’m in a flatting situation, with multiple tenants – who receives the dividend?

A: The communication regarding the dividend will be sent to the person who is the power account holder. It is up to the people responsible for the power account to decide how the payment is shared in this instance.

Q: I’m in a flatting situation, my landlord pays the power - who receives the dividend?

A: The dividend is paid to the power account holder. It is up to the people responsible for the power account to decide how the payment is shared in this instance.

Q: What if I have more than one power account, e.g. house + pump + woolshed?

A: The dividend payment will apply only to those accounts that normally have a fixed distribution charge, i.e. those identified as a primary network connection point. Payments will be made only to a maximum of three connections (ICPs).

Q: Will I be eligible for future dividends?

A: This is an annual decision that will be made by the Trust.

Q: Why was a single eligibility date chosen?

A: A single fixed eligibility date was chosen for the dividend payment to aid with the administration of payments, as all data relating to customer eligibility is provided by the electricity retailers.

Q: Does it matter when I joined Unison?

A: All permanent metered supply points (ICPs) attracting fixed daily charges as at 5pm on 30 September 2021 are entitled to a dividend payment.

Note: Builder’s temporary supplies, and other unmetered connections such as streetlights, telecommunications devices, and under-veranda lighting etc. are excluded.

Q: Why is my dividend the same as everyone else? (Commercial customers)

A: The Trust made the decision that the dividend payment would be the same for every consumer, regardless of size, spend or consumption.

Q: What happens if I don't have a bank account?

A: You will need to discuss this with a local bank as you require a bank account to receive your dividend payment by direct credit.

Q: Will my details be used for any other purposes?

A: Your details are held on file for shutdown notices, billing, and other operational purposes of the network company.

Q: Tax-related questions. Do I have to pay tax on the dividend?

A: As required by the Inland Revenue, the Trust pays tax at the rate of 33% on the dividend. We believe many beneficiaries are on a lower tax rate than 33% so you could be entitled to a tax refund on this payment if you file a tax return.

Any questions in regards to your tax situation must be discussed with Inland Revenue as we are not qualified to comment or provide any tax advice. Visit www.ird.govt.nz or call Inland Revenue on 0800 227 774.

Q: How much tax is paid by the Trust?

A: The Trust pays 33 cents of tax credits to every dividend payment. We believe many beneficiaries are on a lower tax rate than this so you could be entitled to a tax refund on this payment if you file a tax return.

Any questions in regards to your tax situation must be discussed with Inland Revenue as we are not qualified to comment or provide any tax advice.  Visit www.ird.govt.nz or call Inland Revenue on 0800 227 774.

Q: I lost my payment advice and tax certificate

A: A copy of the of the standard tax certificate is available online at hpbct.co.nz. A copy of the tax certificate for those with an RWT-exempt certificate is also available on hpbct.co.nz

Q: What about people who are in a group and have to split up tax?

A: Because everyone has different tax rates, we are not able to provide calculations for the tax on a share of the dividend. You will need to ask your tax advisor or Inland Revenue. Visit www.ird.govt.nz or call Inland Revenue on 0800 227 774.

Q: I am RWT-exempt, what do I do?

A: If you have an IRD certificate of exemption from RWT, you can contact our customer team on 0800 535 738 in the first instance. You will be asked to provide a copy of that certificate and your dividend will be paid without withholding tax being deducted.

If the dividend has already been calculated for payment, or paid, you will need to claim the tax back through your tax filing. You will need to ask your tax advisor or Inland Revenue. Visit www.ird.govt.nz or call Inland Revenue on 0800 227 774.