To echo those posts, this is my uneducated interpretation of what we've been told. Naturally you will need to form your own opinion and/or seek professional advice - the below is not financial advice and cannot be relied upon.
Assuming: * I held shares in FFX on 6 June 2022 * I held the shares as capital (e.g. not a professional trader) * I was an Australian resident on 9 June 2022 * I purchased shares as an individual and have not elected for Division 230 to apply
Then: * My LLL shares have a CGT acquisition date of the date I bought my corresponding FFX shares. Given I've purchased multiple parcels of FFX shares, I would set individual acquisition dates for each pro rata parcel of LLL shares for those FFX shares (noting I suppose a possibility of rounding errors). This means if I had sold LLL shares immediately after LLL listed, the date for calculating a potential CGT discount would have been when I bought a corresponding parcel of FFX shares that gave rise to receiving those LLL shares. * The cost-base of each of my FFX shares owned before the demerger is (Sum cost base for all of my FFX shares * 40.91% / Number of my FFX shares) * The cost-base of each of my LLL shares received from the in-specie (1 for 1.4) distribution of the demerger (e.g. other than any bought in the additional pro rata offer / shortfall / later) is (Sum cost base for all of my FFX shares * 59.09% / Number of my LLL shares) * A capital gain arises immediately on demerger if I had FFX shares with a cost-base less than 1.911c per share, with an option to rollover that gain. I can't imagine why anyone would not take up the demerger roll-over, but I also don't know anyone with shares with a cost base less than 1.911c so it feels sort of moot.
So if I had sold some LLL shares straight after demerger, and these shares had been received because I held FFX shares for years prior (e.g. the number I had sold, x, could be aligned to a parcel of 1.4x FFX shares from over a year prior to sale), then I would calculate the cost base for those LLL shares as (Sum cost base for all of my FFX shares * 59.09% / Number of LLL shares I received), the capital gain as the difference between the LLL sale price and that cost-base, and then apply the 12-month CGT discount.
Example: If I bought 10,000 FFX shares for $2,500 a year prior to selling corresponding LLL shares received in the demerger (ignoring any other cost base impacts), and I received 7142 LLL shares in the demerger for this parcel, my LLL cost-base would be ($2,500 * 59.09% / 7142) = around 0.20684c / share ($1,477.25 total), and if I sold for 50c then I have a capital gain of just under 30c a share = $2093.75 if I sold the lot, and then I apply the 12-month CGT discount as usual and I'm effectively paying my marginal rate on half that gain once it all nets out.
(20min delay)