AKE 0.00% $9.83 allkem limited

Canadians Getting Left Out?, page-6

  1. 188 Posts.
    lightbulb Created with Sketch. 59
    As a Canadian tax resident, I'm utterly confused about my personal tax implications from this merge.

    I hold AKE shares on both TSX and ASX (as a former Aus tax resident). I've perused all 230+ pages of the announcement but not found anything particularly useful.

    For the AKE shares I hold on ASX, I understand that I will have the option of receiving CDIs or receiving NewCo shares on NYSE. If I were an australian tax resident, I understand this wouldn't trigger a CGT event, as it is a share for share exchange transaction. Is this still true if I hold these shares as a Canadian tax resident?

    For the AKE shares I hold on TSX, will these be sold automatically and I would receive cash? (as an ineligible shareholder)? Or would I simply receive NewCo shares on NYSE? In the case of the former, I assume this would constitute a CGT tax event, unless I hold the shares in a registered account such as RRSP or TFSA (which I do).

    Would appreciate fellow Canadian residents' input here to help me unravel the implications.
    Last edited by stephank: 14/05/23
 
watchlist Created with Sketch. Add AKE (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.