Mmmm...Noodly, in my first quick read I have a slightly...

Mmmm...Noodly, in my first quick read I have a slightly different view for an Aussie based SH:

Example:

1. If your TNG share cost base is greater than 4.3c, say 10c

then

2. There is a capital reduction of 4.3c for each TRT in specie issued


3. In this example, 10c -4.3c = 5.7c & that (x the number of in specie you got) is subject to CGT

4. Para 35 then instructs how to apply CGT ie. you can apply the discount if you have held your TNG shares for > 12 months. Otherwise the full CGT is payable.

That's my quick take....but I may be offtrack?

The Tax experts will clarify for us.

Cheers.

Jvest