Print out the example worksheet so you can refer to it as you follow the example.

Anthony owned one parcel of 1,000 ABB Grain shares. The acquisition date and total cost base of the parcel of shares at the time of the acquisition was:

parcel 1, acquired 4 November 2005, 1,000 shares, cost base just before the acquisition $7,500 ($7.50 each). His reduced cost base for these shares is the same as the cost base.

Anthony chose the maximum scrip option and elected to receive Viterra shares for his ABB Grain shares. Anthony's certificate showed a total of 510 Viterra shares. Anthony decided not to choose scrip-for-scrip rollover for his capital gain on these shares.

Section 1: Details of your ABB Grain shares

Anthony enters the acquisition date and the number of shares in column 2 and 3 respectively. He enters the total cost base in column 4.

Section 2: Capital gain or capital loss

Column 5: Total value of consideration received

Anthony works out what he received for parcel 1 using the formula for the maximum scrip option:

56% of Column 3 x 0.9062 (answer rounded down to nearest whole number of shares) x market value of a Viterra share plus 43.67% of column 3 x cash received

1,000 x 56.33% x 0.9062 = 510.46246 shares (rounded down to 510) x $10.376 = $5,291.76 plus 1,000 x 43.67% x $8.70 = $3,799.29

$5,291.76 plus $3,799.29 = $9,091.05

He writes $9,091.05 in column 5 for parcel 1.

Column 6: Capital gain or capital loss amount

Anthony has made a capital gain on parcel 1 because what he received for them (column 5 amount), is more than their cost base (column 4 amount). Anthony works out his capital gain using the formula at step 1:

column 5 (total value received) - column 4 (cost base)
$9,091.05- $7,500
= $1,591.05

Anthony writes $1,591.05 in column 6 beside parcel 1.

Column 7: CGT discount

Anthony owned his ABB Grain shares for at least 12 months before the date of disposal however he made a $2,000 capital loss on the sale of shares he owned in another company and will apply that capital loss to the gain he made on his ABB Grain shares. He enters 'N' in column 7.

Section 3: Cost base of your Viterra shares

Column 8: Acquisition date

This is a pre-filled column.

Column 9: Number of Viterra shares received

Anthony's certificate from Viterra states he received 510 Viterra shares. Because he only owned one parcel of ABB Grain shares he knows the total 510 Viterra shares were received in respect of his one parcel of ABB Grain shares.

In column 9 he writes 510 beside parcel 1 and at the bottom of column 9 beside Total.

Column 10: Cost base of your Viterra shares

Anthony works out the cost base of his Viterra shares using the formula provided:

column 9 (number of shares received) x $10.376
510 x $10.376
= $5,291.76

Anthony writes $5,291.76 in column 10 for parcel 1.

    Last modified: 21 Mar 2013QC 27250