With all due respect you are not reading/understanding it correctly.
Nowhere in what you've posted does it say you do not get the loss!
However you have alerted me to the fact that the permitted dividend needs to be included in capital proceeds to calculate the loss.
Everyone who purchased shares between August 2012 and early September last year will be sitting on a loss as the SP was higher than what the scheme will pay you. I'll stand corrected but I can't recall there being a capital return to reduce cost base in that time.
I first bought shares at around $3, (glad I didn't hang on to the end) I would be using the substantial loss against my gains in my tax return if I still owned.
Cost base and reduced cost base
The cost base of each Vita Share should generally include the amount paid to acquire the
relevant Vita Share, plus any non-deductible costs of acquisition, holding and disposal (e.g.
brokerage fees and stamp duty). The cost base will be reduced by any return of capital
received in connection with the Vita Shares during the ownership of the Vita Shares (if any).
The reduced cost base, used to determine a capital loss, is calculated in a similar manner.
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Ann: VTG - Scheme Booklet registered with ASIC, page-18
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