Wazza222 sometimes the ATO is your friend ;-)
Here's a few key points from a fact sheet they posted on their website relating to a previous capital return by AMP Ltd - tax consequences of a capital return by WPG would be similar...
Are there any tax consequences for me?
- As a result of the return of capital, you must adjust the cost base and reduced cost base of your shares.
- The capital return on your shares is a capital gains tax (CGT) event that may have resulted in a capital gain for you. Depending on the outcome, you may have to include some details on your tax return.
Did I make a capital gain?
You have made a capital gain if your cost base per share on the payment date was less than the amount you received for each share.
http://www.ato.gov.au/content/78687.htm
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- $1.52 cash backing plus coal and port assets
$1.52 cash backing plus coal and port assets , page-56
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