Yes I can help. CGT rollover can apply to the scrip component,...

Yes I can help. CGT rollover can apply to the scrip component, but not the cash component, so long as the acquirer gets control of at least 80% of the target.

So let's assume that the takeover is successful and OZL gets to 100%

I bought a few months ago at $0.08 per share. So for the cash component ($0.085 per share) I will have a capital gains tax liability this financial year on that $0.005 per share gain. Unfortunately I haven't held on for more than 12 months, so the 50% CGT discount won't apply. Still, paying CGT on that half a cent gain is not terrible.

For the Oz shares, I can defer my CGT liability until I sell them. I am receiving 0.009 OZL shares per AVB share, so my rebased purchase price for OZ will be my AVB purchase price (0.08) divided by the new OZ shares (0.08 / 0.009 = $8.89)

So when I eventually sell my Oz shares, my CGT liability will be calculated as whatever my sale price is, minus my effective purchase price ($8.89). The advantage here is that I can hold off selling Oz until 12 months after I purchased the original AVB shares in order to take advantage of the 50% CGT discount.

Now, worst case which I consider unlikely, the minimum acceptance for OZ's offer is 50.1% Assuming that OZ gets no more than this, the 50.1% is less than the 80% ownership threshold for CGT rollover relief to apply, in which case you would have a CGT liability on the total consideration this financial year. Odds are this won't happen though, I fully expect OZL to get to 100%.