Warning: This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
AMP Ltd demerged HHG PLC on 23 December 2003.
Who should use this calculator?
Use this calculator only if you meet all of the following criteria:
- you were an Australian resident for tax purposes at the time of the demerger
- any gain or loss you made on the shares is a capital gain or capital loss - this means that you held your shares as an investment asset, rather than
- as trading stock
- as part of carrying on a business, or
- to make a short-term or one-off commercial gain
- you did not acquire your shares under an employee share scheme
- you did not participate in the Institutional Bookbuild under the AMP Rights Offer on 16-17 December 2003
- you did not make a partial subscription for AMP shares under the AMP Rights Offer, and
- you did not sell any of your AMP shares between 22 October 2003 and 19 December 2003.
This calculator can only be used for up to 21 parcels of ordinary shares in AMP Ltd. You cannot use it for reset preferred securities.
What does this calculator work out?
If you were an AMP Ltd shareholder on 23 December 2003, this calculator will help you work out the following for your 2003-04 tax return:
The calculator will also help you work out the new capital gains tax (CGT) cost base of your AMP and HHG shares (including any AMP shares you received under the AMP Rights Offer). You will need this to work out your capital gain or capital loss when you sell your AMP shares or HHG shares after the demerger.
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This calculator will only work out your capital gain or capital loss if you sold your HHG shares through the HHG Share Sale Facility.
If you have sold your AMP shares or HHG shares since the demerger, you can use the Cost Base Reports generated by this calculator to work out your capital gain or capital loss.
Note: the calculator does not take into account events that may have affected your cost base between the demerger and the sale of your shares.
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What action do you need to take?
After using the calculator, you may find you need to:
- request an amendment to your 2003-04 tax return
- adjust your tax records relating to your net capital loss carried forward to later income years, or
- include amounts at the capital gains tax label in your 2003-04 tax return (if you have not yet lodged it).
Companies, trusts and superannuation funds
For information about what to do for companies, trusts and superannuation funds, phone 13 28 66 and follow the 'capital gains' prompts for assistance.
Individual shareholders
For more information, access the AMP Ltd Demerger Calculator and click on the link What action do you need to take.
Cost base reports obtained before December 2004
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Did you use this calculator before December 2004 to obtain a cost base report?
If you used the AMP Ltd Demerger Calculator before December 2004, your 'AMP Shares - cost base report' may be incorrect if:
- your two largest parcels appear one after the other in the report, and
- these two parcels contain a similar number of shares (to within 10 shares).
If your cost base report has these features, you should re-use the AMP Ltd Demerger Calculator to obtain a new cost base report.
If you have disposed of your AMP shares, and the cost base reports you used to calculate your capital gain or capital loss was incorrect, you will need to recalculate your net capital gain or net capital loss.
If you have already lodged your tax return and the net capital gain is incorrect you will need to amend your tax return. For more information on how to do this, phone 13 28 61 and tell us you need an amendment due to the anomaly in the AMP Ltd Demerger Calculator.
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Access the AMP Ltd Demerger Calculator here.
Last Modified: Wednesday, 10 June 2009