Choosing the rollover
The rollover allows you to disregard any capital gain resulting from the NZ$0.1989 (A$0.1469) capital reduction amount.
A capital gain would only arise if the cost base of each of your TCNZ shares was less than NZ$0.1989 (A$0.1469).
You cannot make a capital loss on the capital reduction.
Not choosing the rollover
If you do not choose the rollover and you made a capital gain on the share capital reduction, you must take the capital gain into account in calculating your net capital gain or capital loss in your 2011-12 tax return.
The way you prepare your tax return is sufficient evidence of the choice you made.
End of attention