Print out the example worksheet so you can refer to it as you follow this example.
Jonathan owned 2,000 PBL shares (in two parcels) at the time of the restructure. The acquisition date and cost base of each parcel at the time of the restructure was:
- parcel 1, acquired on 14 December 2002, 1,000 shares, cost base $8,700
- parcel 2, acquired on 8 March 2003, 1,000 shares, cost base $7,900
Jonathan chose the PBL standard option for exchanging his PBL shares and scrip- for-scrip rollover.
Section 1: Details of your PBL shares
In columns 2, 3 and 4 Jonathan enters the acquisition date, the number of shares in each parcel and the cost base of each parcel respectively.
Section 2: Capital gain on the cash received
Column 5: How much cash did you receive?
Jonathan received $3.00 for each of his PBL shares.
In column 5, he enters $3,000 ($3.00 X 1,000 shares) against parcel 1 and $3,000 against parcel 2.
Column 6: Relevant proportion of cost base
Jonathan works out the relevant proportion of the cost base as follows:
parcel 1: $8,700 x 14.57% = $1,267.59
parcel 2: $7,900 x 14.57% = $1,151.03
Column 7: What is your capital gain?
Jonathan works out the capital gain he made on the cash received for each parcel:
parcel 1: $3,000 - $1,267.59 (from column 6) = $1,732.41
parcel 2: $3,000 - $1,151.03 (from column 6) = $1,848.97
Column 8: CGT discount
Jonathan acquired his PBL shares more than 12 months before the restructure, so these capital gain amounts are eligible for the CGT discount. He enters 'Y' in column 8 for each parcel.
Section 3: Cost base of your Crown shares
Column 9: Acquisition date
Jonathan chose scrip-for-scrip rollover, so he copies the date he acquired his PBL shares from column 2 to column 9.
Column 10: Number of shares received
Jonathan checks his advice from Crown, which tells him he received 2,000 shares. He enters this number at the bottom of the column.
As Jonathan chose the standard option, he received one Crown share for each of his PBL shares. He enters 1,000 shares in column 10 for each parcel. These add to the figure provided by Crown.
Column 11: Cost base of your shares
Jonathan works out the cost base of each parcel of Crown shares as follows:
parcel 1: $8,700 - $1,267.59 - (column 10 x $3.70) = $3,732.41
parcel 2: $7,900 - $1,151.03 - (column 10 x $3.70) = $3,048.97
He enters these amounts in column 11 beside the parcels. These amounts are positive, so Jonathan did not make a capital gain under the demerger. He does not have to complete column 12.
Section 4: Cost base of your CMH shares
Column 13: Number of shares
Jonathan received one CMH share for each Crown share he owned. He copies the figure from column 10 to column 13.
Column 14: Acquisition date
This is a pre-filled column.
Column 15: Cost base of shares
Jonathan works out the cost base of each parcel of CMH shares he received as follows:
1,000 x $3.70 = $3,700.00
He enters $3,700 against each of his parcels.