Ann: Proposal from Latitude for Humm Consumer Finance, page-163

Good question. For me it is simple. I only acquired the HUM shares quite recently, so I won't be eligible for the CGT discount, whatever way the ATO looks at it. But there is also the other important issue of the cost base, of both HUM and in specie LFS shares, subsequent to the deal. I can think of a number of possible approaches to both cost base and discount, but I won't bore you with them because I really don't know how it's done in this instance. Perhaps someone else here can tell us the answer to these questions.
Hopefully, if & when the proposal is put to shareholders, there will be a section covering CGT.
Of course, if you divest the lot (HUM & in specie LFS shares) in the same financial year and all with the same discount status, then everything becomes very straightforward, as you simply have a total realised amount from the sales and a total original purchase cost. This was the case for me on the one previous occasion that I experienced this particular circumstance.