Lendlease Corporation Limited - stapled securities acquired under the Placement or Securities Purchase Plan
Please note that the PDF version is the authorised version of this ruling.
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|What this Ruling is about|
|Who this Ruling applies to|
|When this Ruling applies|
Relying on this Ruling
This publication is a public ruling for the purposes of the Taxation Administration Act 1953.
If this Ruling applies to you, and you correctly rely on it, we will apply the law to you in the way set out in this Ruling. That is, you will not pay any more tax or penalties or interest in respect of the matters covered by this Ruling.
Further, if we think that this Ruling disadvantages you, we may apply the law in a way that is more favourable to you.
1. This Ruling sets out the capital gains tax (CGT) consequences for Lendlease Group security holders who acquired Lendlease Group stapled securities under the Placement or Security Purchase Plan (SPP) announced on 28 April 2020.
Lendlease Group stapled security - CGT assets
6. Each Lendlease Group stapled security consists of a share in Lendlease Corporation Limited (LLC) and a unit in Lendlease Trust (LLT) which are stapled. The LLC share and the LLT unit are separate CGT assets (section 108-5).
Cost base and reduced cost base of Lendlease Group stapled security
8. The expenditure of $9.80 you incurred for the Lendlease Group stapled security must be apportioned on a reasonably attributable basis (subsection 112-30(1)) to determine the first element of your cost base or reduced cost base in the LLC share and the LLT unit.
Commissioner of Taxation
16 September 2020
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