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What are the capital gains tax consequences for me?

Last updated 5 October 2009

A CGT event happened to your Westfield Holdings shares on 2 July 2004, the effective date for the sale facility.

You may have made a capital gain or a capital loss on your Westfield Holdings shares, depending on their cost base (or reduced cost base) and the amount you received for them. The amount that you received for them depends on whether you received cash or stapled securities for your shares.

Shareholders who received cash

Westfield Holdings shareholders who participated in the sale facility and received cash received $15.35 for each share that they disposed of.

For shares that you acquired after 19 September 1985*, work out if you have made a capital gain or capital loss using the capital payment amount of $15.35 you received for each share.

* Shares acquired before 20 September 1985 are pre-CGT assets and you therefore disregard any capital gain or capital loss you make on them.

The following table will help you to work out if you have made a capital gain or loss.

For each Westfield Holdings share with a:

you have made:

equal to:

cost base of less than $15.35

a capital gain

$15.35 minus the cost base of the share

reduced cost base of more than $15.35

a capital loss

the reduced cost base of the share minus $15.35

For information on how to work out the cost base and reduced cost base for shares, see theGuide to capital gains tax 2004-05.

Shareholders who received stapled securities

Westfield Holdings shareholders who participated in the sale facility and received stapled securities received proceeds worth $15.48 for each share that they disposed of.

For shares that you acquired after 19 September 1985*, work out if you have made a capital gain or capital loss using the capital payment amount of $15.48 you received for each share.

* Shares acquired before 20 September 1985 are pre-CGT assets and you therefore disregard any capital gain or capital loss you make on them.

The following table will help you to work out if you have made a capital gain or loss.

For each Westfield Holdings share with a:

you have made:

equal to:

cost base of less than $15.48

a capital gain

$15.48 minus the cost base of the share

reduced cost base of more than $15.48

a capital loss

the reduced cost base of the share minus $15.48

For information on how to work out the cost base and reduced cost base for shares, see theGuide to capital gains tax 2004-05.

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