You may have made a capital gain on your TCNZ shares, if the capital reduction amount attributable to each TCNZ share is more than the cost base of each TCNZ share you held before the demerger.
The capital reduction amount for each TCNZ share was NZ$0.1989.
This converts to A$0.1469 (NZ$0.1989 divided by the exchange rate of $1.3536).
For more information on how to work out the cost base and reduced cost base for shares, refer to Guide to capital gains tax (NAT 4151).
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