Hopefully, the board will think along similar lines to what happened in 2019…this is not catering for the tax positioning of the institutions or larger investors.
59. An SGL shareholder will make a capital gain from CGT event G1 happening if the amount of the return of capital of $0.39 is more than the cost base of the shareholder’s SGL share. If so, the capital gain is equal to the amount of the excess and the cost base and reduced cost base of the SGL share is reduced to nil (subsection 104-135(3)). No capital loss can be made from CGT event G1 (Note 1 to subsection 104-135(3)).
60. If the amount of the return of capital of $0.39 is not more than the cost base of the shareholder’s SGL share, the cost base and reduced cost base of the share are reduced by the amount of the return of capital (subsection 104-135(4)).
Many investors will probably get an extra income with only needing to adjust their cost base!
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4-135(3)).
(20min delay)