Without ruling the tax ruling to confirm it, the cost base of the WPL shares will be the value of the shares at COB when distributed. So if WPL is $30 COB 31 May, and you receive and can trade WPL on 1 June, then the market value at 31 being $30 is the cost base. The franking credits are an addition.
Its a standard inspecie distribution here.
Assessable for tax? Well it’ll be $30 per WPL share received plus franking of (30/70). So the assessable dividend would be $42.85 per every WPL received in their situation. You have a franking credit worth 30% ie $12.85. The rest will be assessable at your marginal rate. Ie a refund or amount payable.
Superfunds will get a net refund, company structure nil impact.
This is why some retail will sell due to top tax bracket. I own BHP in various structures including personal, so I’ll probably lighten some to meet tax liabilities alone. Albeit I already have a lot of WPL.
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