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  • What are the tax consequences of my participation in the stapling distributions?

    Your Westfield Trust units were consolidated as the first step of the stapling arrangement. After consolidation you held 0.28 units for every pre-existing unit (rounded up to the next whole number). There are no direct tax effects from this consolidation. If you acquired your units in more than one transaction, you may need to round the consolidated units and adjust the cost bases for the parcels. A fact sheet on how to do this will be available shortly.

    You then received a non-assessable payment which reduces the cost base of your consolidated Westfield Trust units and may result in a capital gain to you.

    Finally you must work out the cost base of each element of your new stapled securities.

      Last modified: 06 Oct 2009QC 18185