This information applies to you if:
- you are an individual, not a company or trust
- you held shares in UXC and received the return of capital in December 2011
- you acquired your shares under an employee share scheme (ESS) and have been taxed on the discount amount under the ESS provisions
- any gain or loss you made on the shares is a capital gain or capital loss - this means that you held your shares as an investment asset, not
- as trading stock
- as part of carrying on a business, or
- to make a short-term or 'one-off' commercial gain.
Return of capital
All shareholders who held UXC shares at 7pm on 2 December 2011 (record date) were entitled to receive the return of capital.
The payment date of the return of capital was 7 December 2011.
The return of capital was $0.02 per share. The payment was a capital payment. It was not a dividend for any purpose and had no dividend component.
There are two tax consequences. You need to:
- work out whether you have made a capital gain by comparing the cost base of your shares with the return of capital you received
- adjust the cost base (and reduced cost base) of any UXC shares you owned on 7 December 2011.