SURF1 2021-08-03T08:46:16+00:00




SURF 1 (SURF 1 or Fund) was established as a closed end fund with a nominal 5-year term.

As outlined in the PDS, and in accordance with the Fund’s Constitution and with the Corporations Act 2001 (Cth), the Responsible Entity may decide to wind up the Fund at any time (such a decision being a Termination Event). SURF 1 has been wound up.


As result of the decision to wind up the Fund, the proceeds from the sale of SURF 1’s assets, less all of the Fund’s liabilities (Net Proceeds), will be distributed to members in the proportion to the number of SURF 1 Units held.  Below is the expected timeframe for the distribution of the Net Proceeds:

  1. Payment of expenses associated with the sales – 28 January 2020 – Complete
  2. Payment of January Distribution (including capital return) of $1.021 – 28 January 2020 – Complete
  3. Further Interim Distribution to Unitholders of $0.135 – 21 April 2020 – Complete
  4. Payment of fees to Fund Manager – June 2020 – Complete
  5. Completion of the Fund accounts for year ended June 2020 – Complete
  6. Final residual distribution to Unitholders – October 2020 – Complete

SURF 1 was wound up on 16 October 2020.

The Constitution provides that all Units in the Fund will be cancelled and taken to be redeemed from the date the final distribution of the Net Proceeds is made.


To ensure that there is no unnecessary delay in receipt of your distribution/s from the Fund, please ensure that the contact and bank account details we have on file for you are accurate and up to date.

Refer to the quarterly updates below for more information.

Quarterly Updates

Distribution History

Period Ended Date Paid Distribution (cpu)
30 September 2020 16 October 2020 0.625
30 June 2020 N/A nil
31 March 2020 22 April 2020 13.5
31 December 2019 28 January 2020 102.1
30 September 2019 16 October 2019 2.10
30 June 2019 31 July 2019 2.10
31 March 2019 23 April 2019 2.10
31 December 2018 21 January 2019 2.10
30 September 2018 16 October 2018 2.10
30 June 2018 31 July 2018 2.05
31 March 2018 20 April 2018 2.05
31 December 2017 22 January 2018 2.05
30 September 2017 16 October 2017 2.05
30 June 2017 31 July 2017 2.04
31 March 2017 21 April 2017 2.04
31 December 2016 16 January 2017 2.04
30 September 2016 26 October 2016 2.04
30 June 2016 29 July 2016 2.02
31 March 2016 19 April 2016 2.02
31 December 2015 19 January 2016 2.02

Financial Reports

Financial Report 30 June 2020
Financial Report 30 June 2019
Financial Report 30 June 2018
Financial Report 30 June 2017
Financial Report 30 June 2016

Distribution Tax Components



In respect of each income tax year, you will be required to include your share of the net income of the SURF 1 in your assessable income for tax purposes. SCA Property Group will provide unitholders with Annual Taxation Statements by August of each year.

You should not complete your tax return for the prior tax year before you receive this Annual Taxation Statement.

Distributions from SURF1 may include various components, the tax treatment of which may differ. If you are an Australian tax resident and an individual, distributions from SURF 1 received after June will generally need to be included in your tax return for the preceding tax year.

Annual Taxation Statement

If you are an Australian tax resident and an individual you will receive an Annual Taxation Statement by August each year. Amounts in this Annual Taxation Statement will generally need to be included in your tax return for the preceding taxation year.

You should not complete your tax return for the preceding taxation year until you receive the Annual Taxation Statement.

To obtain your Annual Taxation Statement go to or contact the SURF 1 information line on 1300 780 316 (within Australia) or +61 2 9290 9600 (outside Australia) to request the Annual Taxation Statement to be sent to you.

Resident withholding tax deductions

If you are classified as an Australian tax resident for Australian tax purposes you will have resident withholding tax deducted at the rate of 47% on the full amount of your future distributions unless you provide your Tax File Number (TFN) or Australian Business Number (ABN).

TFN withholding tax is a refundable credit. That is, if the credit exceeds the tax liability you would otherwise have, it will be refunded to you by the Australian Taxation Office. For further information you should contact your own tax advisor.

Go to in order to provide your TFN or ABN or your bank account or financial institution account information and other details online for your holding. Alternatively contact the SCP Information Line on 1300 780 316 (within Australia) or +61 2 9290 9600 (outside Australia) to request the forms to be sent to you.


Q: When will SURF 1 make distributions?

A: SURF 1 intends to make distributions quarterly in the month after each calendar quarter. The distribution for the June calendar quarter may be delayed in order to determine the final annual taxation components.

Q: How do I change my bank or EFT or address details or get details of may distribution or other unitholder records?

A: Please contact the SURF 1 Unit Registry on 1300 780 316.

Contact Us

SURF 1 Unitholder Enquiries

If you have any queries relating to a unitholding in SURF 1 please call the SURF 1 information line:

1300 780 316 (within Australia)

+61 2 8016 2885 (outside Australia)

Or you may contact: or log onto to update your bank account, TFN, ABN or other details.

General Enquiries

SCA Property Group

Level 5, 50 Pitt Street

Sydney NSW 2000

Telephone: 02 8243 4900