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  • What are the capital gains tax consequences of the disposal of my St George shares?

    A CGT event happened when you disposed of your St George shares in the merger with Westpac on 1 December 2008.

    You may have made a capital gain or a capital loss on your St George shares, depending on their cost base (or reduced cost base) and the amount you received for them.

    Work out if you have made a capital gain or capital loss using the value of the capital proceeds for each St George share on 1 December 2008.

    The capital proceeds for each St George share was $22.5165 [1.31 multiplied by $17.1882 (the market value of a Westpac share)].

    You may own shares that have different cost bases (or reduced cost bases) and it is possible for you to have made both a capital loss and a capital gain on different St George shares. The following table will help you.

    Note: For information on how to work out the cost base and reduced cost base for shares, see the Guide to capital gains tax.

    For each St George share with a:

    you have made:

    equal to:

    cost base of less than $22.5165

    a capital gain

    $22.5165 minus the cost base of the share

    reduced cost base of more than $22.5165

    a capital loss

    the reduced cost base of the share minus $22.5165

    Scrip for scrip rollover is available for this merger if you made a capital gain.

      Last modified: 06 Oct 2010QC 21912