the vote, one year on, page-4

Hi Kangaroo1

I am in the same position as you with my BOTA shares, yet to finalise them on my Commsec account, and preparing my tax return for 2013.

In relation to the BTA shares, I started prepared my tax return last week and concluded that the disposal of BTA shares does trigger a CGT event.

There are two CGT outcomes, either a gain or loss..
1. LOSS - If you made a loss like so many of us would of, you will need to work out the CGT on each parcel you purchased. You will need to know the purchase date and costs for each parcel and then subtract the final price on the date of delisting (which from memory was 57c on 9 November?)
e.g. 1000 shares at $1 purchased on 1/07/2011 would be
[(1000 x $1 = $1000 + $30 brokerage = $1030)]
less (1000 x 0.57 = $570)
= $460 loss

This will need to be done with each parcel.

Also note, that if you owned a parcel of shares prior to the 'capital return' date that occurred in 2009, your cost base needs to be reduced by a certain rate (6.?? cents per share)
Section 8 of the takeover documents discuss the CGT considerations on the disposal of BTA shares and there is also a ATO public ruling on the 'return of capital' that took place in 2009.


2. GAIN - If, in the unlikely event, you sat on a CGT GAIN as of delisting date, there are CGT rollover relief rules you can apply. I didn’t look into these, but basically you defer your CGT until such time that you dispose of your BOTA shares and receive capital for your gain. If there are any mythical creatures in this categories, congratulations.

I am happy to be corrected on any of the above. I have prepared my tax return based on this information, but am yet to lodge it.
If anyone can provide any further information/advice, it would be appreciated.

GL to all..

Regards
Peza