• Section 2: Capital gain on the cash received

    In this section you work out the tax consequences for the cash amount you received under the acquisition.

    Column 5: How much cash did you receive?

    You need to know how much cash you received to work out your capital gain.

    Use the following table to work out how much cash you received for each of your parcels of ABB Grain shares.

    Option

    Cash received

    Standard

    Column 3 (number of ABB Grain shares) x $4.35

    Maximum scrip

    43.67% x column 3 (43.67% of number of ABB Grain shares) x $8.70


    Attention

    Remember, even though you chose maximum scrip option, you received cash for 43.67% of your ABB Grain shares because of the scale back.

    End of attention

    Enter the results in column 5.

    Column 6: Relevant proportion of cost base

    The cost base relating to the cash you received is a percentage or proportion of the cost base of your ABB Grain shares, which we refer to as the relevant proportion.

    Work out the relevant proportion of the cost base for each parcel, using the table below:

    Option

    Relevant proportion (if received Viterra shares)

    Relevant proportion (if received Viterra CDIs)

    Standard

    Column 4 (cost base of parcel) x 48.06%

    Column 4 (cost base of parcel) x 47.29%

    Maximum scrip

    Column 4 (cost base of parcel) x 43.67%

    Column 4 (cost base of parcel) x 43.67%

    Attention

    Where you hold more than one parcel of ABB Grain shares, it may be possible for you to distinguish and identify the particular shares that you disposed of. This may be relevant for you if you elected the maximum scrip option as due to the scale back you received cash for 43.67% of your ABB Grain shares and scrip consideration for the remainder of your ABB Grain shares (that is, you may be able to identify which ABB Grain shares were disposed of for cash).

    End of attention

    Enter the results in column 6.

    Column 7: What is your capital gain?

    Your capital gain is the difference between the cash you received for your ABB Grain shares (amount in column 5) and the relevant proportion of the cost base of those shares (amount in column 6). For each parcel work out:

    column 5 (cash amount received) - column 6 (relevant proportion of cost base for cash amount received)

    Attention

    If you elected the standard option and the result is zero or negative, you have not made a capital gain and cannot use this document. If you elected the maximum scrip option and the result is zero or negative and you also did not make a capital in respect of the ABB Grain shares, for which you received Viterra shares or Viterra CDIs, you have not made a capital gain and cannot use this document. For these parcels you should use Viterra acquisition of ABB Grain - no scrip-for-scrip rollover.

    However, if you elected the maximum scrip option and the result is zero or negative and you made a capital gain in respect of the ABB Grain shares, for which you received Viterra shares or Viterra CDIs, you are eligible for scrip-for-scrip rollover for this gain. In which case, section 3 or section 4 will be relevant.

    End of attention

    Enter the results in column 7.

    Attention

    You must include this capital gain when working out your net capital gain or capital loss for your 2009-10 income tax return.

    You must also include any capital loss made on your ABB Grain shares (the difference between the reduced cost base of your ABB Grain shares and the value of consideration received for those shares) when working out your net capital gain or capital loss for your 2009-10 income tax return.

    End of attention

    Column 8: CGT discount

    You can treat the capital gain resulting from the cash received as a discounted capital gain provided that you:

    • were an individual, complying superannuation entity or eligible trust
    • worked out your capital gain using a cost base that had been calculated without reference to indexation at any time
    • owned your ABB Grain shares for at least 12 months before the date of disposal (that is, you acquired them on or before 22 September 2008), and
    • applied any current or prior year capital losses to the capital gain first.
    Attention

    If you acquired your ABB Grain shares after 22 September 2008, you cannot use the CGT discount.

    End of attention

    For each parcel, place a 'Y' in column 8 if you are eligible for the CGT discount and an 'N' if you are not.

      Last modified: 21 Mar 2013QC 27251