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In my SMSF at 30/6/14 we held 2,000 Westfield Group (WDC).
Under our entitlement we received 2,492 Scentre Group, plus 2,000 Westfield Corp.
Having since sold the 2,492 Scentre need to know the cost base for the entitlement.
Have tried reading the 400 odd page Westfield document but still no the wiser. Can you help please?
A: Thanks for the question.
If you look at page 329 in the booklet, there is some information about the general taxation principles.
In essence, your existing cost base for your former Westfield Shares will be apportioned between the 2,000 new shares in Westfield Group and the 2,492 units you received in Scentre.
Westfield /Scentre are awaiting an advice/ruling from the ATO about this – which is allegedly due at the end of August.
This advice will be communicated when received (and available on their websites), and hopefully, will have a reasonably straight forward way of apportioning your previous cost base.
