• Toll's takeover of Patrick - CGT worksheet instructions

    The information in this table will help you with your worksheet entries.

    To work out:

    do this:

    Comments

    Step 1:

    Complete Worksheet A - work out your capital proceeds

    A1

    Consult your records for the date that you sent or delivered your acceptance of the takeover offer.

    If you did not accept the offer by 7.00pm (EST) 25 May 2006, use 1 July 2006 as the date of the event.

    A2

    Consult your records

    A3

    Look up the value in table 1 for the date of the event (A1)

    If the date of your event is not listed in the table, use the value for the closest date before you accepted the offer.

    A4

    Consult the takeover documentation that you received on acceptance or compulsory acquisition.

    This number should equal the number of Patrick shares that you exchanged multiplied by 0.4 and rounded down to the nearest whole number.

    A5

    Look up the value in table 2 for the date of the event (A1)

    Use the same date as you used for A3

    A6

    Multiply A4 by A5.

    For roll-over purposes, this is eligible capital proceeds - the capital proceeds that roll-over can apply to.

    A7

    Consult the takeover documentation that you received on acceptance or compulsory acquisition.

    A7 should equal A2 multiplied by $3.

    For roll-over purposes, this is the ineligible capital proceeds - the capital proceeds that roll-over cannot apply to.

    A8

    Add A6 and A7

    This is the total value of your capital proceeds from the event.

    Step 2:

    Complete Worksheet B - work out your capital gains and new cost bases.

    B2

    Write the date that you acquired each parcel of Patrick Corporation shares on a separate line.

     

    B3

    Write the number of Patrick shares in each parcel on the appropriate line.

     

    B4

    Work out and write in the cost base of each parcel of shares

    In this case, the cost base will equal the reduced cost base of your shares.

    Note: You can use the indexed cost base for share parcels that were acquired before 11.45am (EST) 21 September 1999 and on which you didn't make a capital loss. However if you do so, you cannot apply the CGT discount to the capital gain. Refer to the Guide to capital gains tax for more information on calculating the cost base and indexed cost base.

    B5

    Divide B3 by A2 and multiply the result by A8

    If you have only one parcel, you can just write in the amount from A8

    B6

    Subtract B4 from B5

     

    B7

    Insert the appropriate code

     

    If you made a:

    then print:

    You made a

    if

    indexed capital gain

    I

    indexed capital gain

    You used an indexed cost base to calculate it

    discount capital gain

    D

    discount capital gain

    B2 is more than 12 months before A1 (and you chose not to index the cost base)

    other capital gain

    O

    other capital gain

    B2 is not more than 12 months before A1

    capital loss

    L

    capital loss

    You got a negative answer for B6.

    Note: You need to print 'n/a' (for 'not applicable') at B8 to B11, C3 and C4 for these parcels and just complete C1, C2 and C5.

    B8

    Multiply B3 by $3

    This is the 'ineligible proceeds' for this parcel

    B9

    Divide A7 by A8 and multiply by B4

    Round this answer to the nearest cent.

    This is the portion of the cost base of this parcel that is allotted to the ineligible proceeds (the proceeds that can't be rolled over).

    B10

    Subtract B9 from B8

     

    B11

    Insert the appropriate code

     
     

    If you made a:

    then print:

    You made a

    if

     

    indexed capital gain

    I

    indexed capital gain

    You used an indexed cost base to calculate it

     

    discount capital gain

    D

    discount capital gain

    B2 is more than 12 months before A1 (and you choose not to index the cost base)

     

    other capital gain

    O

    other capital gain

    B2 is not more than 12 months before A1

    C1

    Multiply B3 by 0.4, round to the nearest whole number.

    If C5 is not the same as A4, round C1 amounts in pencil up or down to nearest whole number until C5 and A4 are equal.

    C2

    Multiply A6, A3, and B3 together; divide the product by A8.

    This is the portion of the value of your Patrick shares that is allocated to your new Toll shares (the remainder was exchanged for cash).

    C3

    Subtract B9 from B4.

    Note: If you used an indexed cost base to calculate your capital gain, you must substitute B4 and B9 with an unindexed cost base before calculating C3.

    C4

    Print R for each parcel that you applied roll-over to the disposal of the parcel.

    You can only apply roll-over to parcels that you made a capital gain on - coded I, D or O at B7.

    You can work out the CGT consequences of roll-over before you decide whether to apply it. If you do this leave this entry blank until you have decided. When you decide, print R where appropriate. If you do not choose roll-over, you should cross out any amounts you have in B8 to B11 and C3. .If you choose roll-over, cross out the amounts in B5 to B7 and C2.

    Step 3

    Record CGT amounts for tax return calculations.

    Income year

    Write the income year that the date at A1 is in.

    If you accepted the offer, the income year is 2005-06.

    If your shares were compulsorily acquired, the income year is 2006-07

    Indexed capital gains

    Add up all of the indexed capital gains from this takeover and write the total gains here

    You cannot apply 50% CGT discount to an indexed capital gain.

    For roll-over parcels (C4 = R), use amounts at B10 where B11 is coded I.

    For other parcels (C4 is blank), use amounts at B6 where B7 is coded I.

    Discount capital gains

    Add up all of the discount capital gains from this takeover and write the total here

    For roll-over parcels (C4 = R), use amounts at B10 where B11 is coded D.

    For other parcels (C4 is blank), use amounts at B6 where B7 is coded D.

    Other capital gains

    Add up all of the other capital gains from this takeover and write the total here

    For roll-over parcels (C4 = R), use amounts at B10 where B11 is coded O.

    For other parcels (C4 is blank), use amounts at B6 where B7 is coded O.

    Capital losses

    Add up all of the capital losses from this takeover and write the total here

    When working out a capital loss, you do not include indexation in the reduced cost base.

    Use amounts at B6 where B7 is coded L.

    Note: You cannot choose roll-over for parcels that you make a capital loss on.

    There are a number of checks that you can make to see that your calculations are correct as you work through the worksheet. These checks are listed in the following table:

    The entry at:

    should equal:

    Comments

    B12

    A2

     

    B13

    A8

    If B13 and A8 are not the same, round B5 amounts in pencil up or down to nearest whole number until B13 and A8 are the same.

    B14

    A7

     

    C5

    A4

    If C5 is not the same as A4, round C1 amounts in pencil up or down to nearest whole number until C5 and A4 are equal.

    Completing your tax return

    Take the 'Total capital gains from this takeover' amount at step 3 into account in working out your 'Total current year capital gains' for label H at the Capital gains item on your tax return.

    Take all capital gains and capital losses from step 3 into account when completing label A (or label V) at the Capital gains item on your tax return. You need to follow the steps in TaxPack Supplement or in Retirees TaxPack to work out label A (or label V).

    Table 1 - Acccepted Patrick share values - for calculating the cost base of the Toll shares that you acquired in the takeover if you do not (or cannot) choose roll-over.

    These values were worked out using the method described in Class Ruling CR 2006/60. You may use another value in your calculations; however, the Tax Office may question the basis that you used if the value in your calculations differs significantly from these values.

    Date

    Patrick share value

    1-July-06

    $8.621

    25-May-06

    $8.59

    24-May-06

    $8.81

    23-May-06

    $8.92

    22-May-06

    $8.84

    19-May-06

    $8.87

    18-May-06

    $8.80

    17-May-06

    $8.91

    16-May-06

    $8.89

    15-May-06

    $8.91

    12-May-06

    $9.07

    11-May-06

    $9.12

    10-May-06

    $8.90

    9-May-06

    $8.78

    8-May-06

    $8.90

    5-May-06

    $8.98

    4-May-06

    $8.70

    3-May-06

    $8.72

    2-May-06

    $8.56

    1-May-06

    $8.58

    Date

    Patrick share value

    28-Apr-06

    $8.52

    27-Apr-06

    $8.49

    26-Apr-06

    $8.53

    25-Apr-06

    $8.58

    24-Apr-06

    $8.58

    21-Apr-06

    $8.71

    20-Apr-06

    $8.70

    19-Apr-06

    $8.59

    18-Apr-06

    $8.61

    17-Apr-06

    $8.03

    14-Apr-06

    $8.03

    13-Apr-06

    $8.03

    12-Apr-06

    $8.06

    11-Apr-06

    $8.02

    10-Apr-06

    $8.00

    7-Apr-06

    $8.08

    6-Apr-06

    $8.08

    5-Apr-06

    $8.08

    4-Apr-06

    $8.08

    3-Apr-06

    $8.05

    Date

    Patrick share value

    31-Mar-06

    $8.06

    30-Mar-06

    $8.12

    29-Mar-06

    $8.15

    28-Mar-06

    $8.18

    27-Mar-06

    $8.15

    24-Mar-06

    $8.14

    23-Mar-06

    $8.14

    22-Mar-06

    $8.06

    21-Mar-06

    $8.03

    20-Mar-06

    $8.06

    17-Mar-06

    $8.01

    16-Mar-06

    $7.93

    15-Mar-06

    $7.90

    14-Mar-06

    $7.83

    13-Mar-06

    $7.86

    10-Mar-06

    $6.98

    9-Mar-06

    $7.00

    8-Mar-06

    $6.93

    7-Mar-06

    $6.84

    6-Mar-06

    $6.91

    3-Mar-06

    $6.97

    2-Mar-06

    $6.95

    1-Mar-06

    $6.86

    Date

    Patrick share value

    28-Feb-06

    $6.85

    27-Feb-06

    $6.8324

    24-Feb-06

    $6.73

    23-Feb-06

    $6.80

    22-Feb-06

    $6.72

    21-Feb-06

    $6.78

    20-Feb-06

    $6.68

    17-Feb-06

    $6.71

    16-Feb-06

    $6.65

    15-Feb-06

    $6.68

    14-Feb-06

    $6.79

    13-Feb-06

    $6.86

    10-Feb-06

    $6.90

    9-Feb-06

    $6.58

    8-Feb-06

    $6.34

    7-Feb-06

    $6.48

    6-Feb-06

    $6.50

    3-Feb-06

    $6.57

    2-Feb-06

    $6.61

    1-Feb-06

    $6.66

    Date

    Patrick share value

    31-Jan-06

    $6.80

    30-Jan-06

    $6.80

    27-Jan-06

    $6.83

    26-Jan-06

    $6.84

    25-Jan-06

    $6.84

    24-Jan-06

    $6.84

    23-Jan-06

    $6.90

    20-Jan-06

    $6.97

    19-Jan-06

    $6.93

    18-Jan-06

    $6.7819

    17-Jan-06

    $7.27

    16-Jan-06

    $7.20

    13-Jan-06

    $7.30

    12-Jan-06

    $7.30

    11-Jan-06

    $7.22

    10-Jan-06

    $7.20

    9-Jan-06

    $7.29

    6-Jan-06

    $7.37

    5-Jan-06

    $7.48

    4-Jan-06

    $7.44

    3-Jan-06

    $7.42

    2-Jan-06

    $7.40

    Date

    Patrick share value

    30-Dec-05

    $7.40

    29-Dec-05

    $7.40

    28-Dec-05

    $7.37

    27-Dec-05

    $7.36

    26-Dec-05

    $7.36

    23-Dec-05

    $7.36

    22-Dec-05

    $7.34

    21-Dec-05

    $7.28

    20-Dec-05

    $7.17

    19-Dec-05

    $7.20

    16-Dec-05

    $7.27

    15-Dec-05

    $7.31

    14-Dec-05

    $7.33

    13-Dec-05

    $7.27

    12-Dec-05

    $7.27

    9-Dec-05

    $7.12

    8-Dec-05

    $7.16

    7-Dec-05

    $7.31

    6-Dec-05

    $7.25

    5-Dec-05

    $7.13

    2-Dec-05

    $7.44

    1-Dec-05

    $7.34

    Date

    Patrick share value

    30-Nov-05

    $7.32

    29-Nov-05

    $7.26

    28-Nov-05

    $7.35

    25-Nov-05

    $7.23

    24-Nov-05

    $7.14

    23-Nov-05

    $7.14

    22-Nov-05

    $7.15

    21-Nov-05

    $7.27

    18-Nov-05

    $7.35

    17-Nov-05

    $7.25

    16-Nov-05

    $7.16

    15-Nov-05

    $7.07

    14-Nov-05

    $7.18

    11-Nov-05

    $7.20

    10-Nov-05

    $7.15

    9-Nov-05

    $6.94

    8-Nov-05

    $6.87

    7-Nov-05

    $6.72

    4-Nov-05

    $6.72

    3-Nov-05

    $6.78

    2-Nov-05

    $6.77

    1-Nov-05

    $6.79

    Date

    Patrick share value

    31-Oct-05

    $6.83

    28-Oct-05

    $6.78

    27-Oct-05

    $6.77

    26-Oct-05

    $6.70

    25-Oct-05

    $6.66

    24-Oct-05

    $6.64

    21-Oct-05

    $6.66

    20-Oct-05

    $6.65

    19-Oct-05

    $6.58

    18-Oct-05

    $6.62

    17-Oct-05

    $6.52

    14-Oct-05

    $6.53

    13-Oct-05

    $6.53

    12-Oct-05

    $6.53

    11-Oct-05

    $6.56

    10-Oct-05

    $6.64

    7-Oct-05

    $6.63

    6-Oct-05

    $6.60

    5-Oct-05

    $6.62

    4-Oct-05

    $6.69

    3-Oct-05

    $6.73

    30-Sep-05

    $6.89

    29-Sep-05

    $6.91

    Note: If the date that you accepted the Toll offer for your Patrick shares is before 25 May 2006, and is not listed in the table, use the value for the closest date before you accepted the offer. If you did not accept the offer by 7.00pm 25 May 2006, your shares were compulsorily acquired; in this case use the 1 July value.

    1. Use this value if you did not accept the Toll offer for your shares before the offer closed.

    Table 2 - Accepted Toll share values - for calculating capital gains (or losses) from the takeover.

    These values were worked out using the method described in Class Ruling CR 2006/60. You may use another value in your calculations; however, the Tax Office may question the basis that you used if the value in your calculations differs significantly from these values.

    Date

    Toll share value

    1-July-06

    $14.051

    25-May-06

    $14.60

    24-May-06

    $14.70

    23-May-06

    $14.75

    22-May-06

    $14.64

    19-May-06

    $14.70

    18-May-06

    $14.60

    17-May-06

    $14.79

    16-May-06

    $14.75

    15-May-06

    $14.85

    12-May-06

    $15.33

    11-May-06

    $15.41

    10-May-06

    $15.00

    9-May-06

    $14.58

    8-May-06

    $13.3512

    5-May-06

    $13.10

    4-May-06

    $13.77

    3-May-06

    $13.94

    2-May-06

    $13.85

    1-May-06

    $14.08

    Date

    Toll share value

    28-Apr-06

    $13.98

    27-Apr-06

    $13.93

    26-Apr-06

    $14.07

    25-Apr-06

    $14.17

    24-Apr-06

    $14.17

    21-Apr-06

    $14.47

    20-Apr-06

    $14.43

    19-Apr-06

    $14.18

    18-Apr-06

    $14.33

    17-Apr-06

    $13.15

    14-Apr-06

    $13.15

    13-Apr-06

    $13.15

    12-Apr-06

    $13.22

    11-Apr-06

    $13.44

    10-Apr-06

    $13.30

    7-Apr-06

    $13.60

    6-Apr-06

    $13.46

    5-Apr-06

    $13.29

    4-Apr-06

    $13.25

    3-Apr-06

    $13.30

    Date

    Toll share value

    31-Mar-06

    $13.10

    30-Mar-06

    $13.24

    29-Mar-06

    $13.52

    28-Mar-06

    $13.36

    27-Mar-06

    $13.85

    24-Mar-06

    $13.98

    23-Mar-06

    $14.25

    22-Mar-06

    $14.05

    21-Mar-06

    $13.78

    20-Mar-06

    $13.81

    17-Mar-06

    $14.05

    16-Mar-06

    $13.62

    15-Mar-06

    $13.36

    14-Mar-06

    $13.57

    13-Mar-06

    $14.4230

    10-Mar-06

    $12.95

    9-Mar-06

    $12.95

    8-Mar-06

    $12.53

    7-Mar-06

    $12.38

    6-Mar-06

    $12.15

    3-Mar-06

    $11.72

    2-Mar-06

    $11.70

    1-Mar-06

    $11.66

    Date

    Toll share value

    28-Feb-06

    $11.68

    27-Feb-06

    $11.60

    24-Feb-06

    $11.35

    23-Feb-06

    $11.28

    22-Feb-06

    $11.05

    21-Feb-06

    $11.08

    20-Feb-06

    $10.90

    17-Feb-06

    $10.75

    16-Feb-06

    $10.88

    15-Feb-06

    $11.00

    14-Feb-06

    $11.32

    13-Feb-06

    $11.44

    10-Feb-06

    $11.30

    9-Feb-06

    $11.15

    8-Feb-06

    $10.78

    7-Feb-06

    $10.80

    6-Feb-06

    $10.49

    3-Feb-06

    $10.85

    2-Feb-06

    $11.20

    1-Feb-06

    $11.44

    Date

    Toll share value

    31-Jan-06

    $11.33

    30-Jan-06

    $11.50

    27-Jan-06

    $11.67

    26-Jan-06

    $11.40

    25-Jan-06

    $11.40

    24-Jan-06

    $11.40

    23-Jan-06

    $11.95

    20-Jan-06

    $11.99

    19-Jan-06

    $12.15

    18-Jan-06

    $13.0548

    17-Jan-06

    $14.15

    16-Jan-06

    $13.91

    13-Jan-06

    $14.08

    12-Jan-06

    $14.18

    11-Jan-06

    $13.97

    10-Jan-06

    $14.01

    9-Jan-06

    $14.25

    6-Jan-06

    $14.48

    5-Jan-06

    $14.72

    4-Jan-06

    $14.90

    3-Jan-06

    $14.91

    2-Jan-06

    $14.90

    Date

    Toll share value

    30-Dec-05

    $14.90

    29-Dec-05

    $14.79

    28-Dec-05

    $14.74

    27-Dec-05

    $14.70

    26-Dec-05

    $14.70

    23-Dec-05

    $14.70

    22-Dec-05

    $14.61

    21-Dec-05

    $14.63

    20-Dec-05

    $14.33

    19-Dec-05

    $14.46

    16-Dec-05

    $14.62

    15-Dec-05

    $14.55

    14-Dec-05

    $14.40

    13-Dec-05

    $14.40

    12-Dec-05

    $14.21

    9-Dec-05

    $14.14

    8-Dec-05

    $14.20

    7-Dec-05

    $14.31

    6-Dec-05

    $14.24

    5-Dec-05

    $14.13

    2-Dec-05

    $13.92

    1-Dec-05

    $13.80

    Date

    Toll share value

    30-Nov-05

    $13.88

    29-Nov-05

    $13.71

    28-Nov-05

    $13.60

    25-Nov-05

    $13.40

    24-Nov-05

    $13.46

    23-Nov-05

    $13.63

    22-Nov-05

    $13.70

    21-Nov-05

    $13.72

    18-Nov-05

    $13.79

    17-Nov-05

    $13.56

    16-Nov-05

    $13.70

    15-Nov-05

    $13.50

    14-Nov-05

    $13.48

    11-Nov-05

    $13.09

    10-Nov-05

    $12.90

    9-Nov-05

    $12.78

    8-Nov-05

    $12.82

    7-Nov-05

    $12.80

    4-Nov-05

    $12.70

    3-Nov-05

    $12.61

    2-Nov-05

    $12.55

    1-Nov-05

    $12.53

    Date

    Toll share value

    31-Oct-05

    $12.50

    28-Oct-05

    $12.44

    27-Oct-05

    $12.65

    26-Oct-05

    $12.38

    25-Oct-05

    $12.13

    24-Oct-05

    $12.10

    21-Oct-05

    $11.92

    20-Oct-05

    $12.06

    19-Oct-05

    $12.21

    18-Oct-05

    $12.40

    17-Oct-05

    $12.13

    14-Oct-05

    $12.35

    13-Oct-05

    $12.60

    12-Oct-05

    $12.70

    11-Oct-05

    $12.72

    10-Oct-05

    $12.98

    7-Oct-05

    $13.04

    6-Oct-05

    $13.14

    5-Oct-05

    $13.30

    4-Oct-05

    $13.61

    3-Oct-05

    $13.68

    30-Sep-05

    $13.90

    29-Sep-05

    $14.09

    Note: If the date that you accepted the Toll offer for your Patrick shares is before 25 May 2006, and is not listed in the table, use the value for the closest date before you accepted the offer. you did not accept the offer by 7.00pm 25 May 2006, your shares were compulsorily acquired; in this case use the 1 July value.

    1. Use this value if you did not accept the Toll offer for your shares before the offer closed.
      Last modified: 06 Oct 2009QC 19172