How to carry out South32/BHP demerger

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  • John Campbell
    John Campbell Member Posts: 193 Reckoner Reckoner
    edited February 2017

    Diver Dave,

    I was stating that QPP does do the cost base split correctly, but we are left to remember the correct (ATO permitted) purchase dates for S32 shares. These dates can affect the capital gains calculations in some cases, but probably not most.

    I was also diverting to note that S32 is not the first case, as there are previous spin-off's by BHP.

    And again, noted that other companies, such as those who do regular capital returns or deferred tax payments provide us with a much more difficult task, when we sell those shares. I have always been puzzled why the ATO lets companies such as GPT or Centro do such payments. I am sure most sellers of those shares don't get their capital gains calculation correct.

    Is this any clearer ?

    John

  • Unknown
    Unknown
    edited February 2017
    This content has been removed.
  • Richard Jasek
    Richard Jasek Member Posts: 4 Novice Member Novice Member
    edited March 2016
    Hello John,
    I too am terrified of entering the Westfield restructure of 2014 into Quicken. After a huge (and expensive) effort by my accountant I have finally derived the cost basis of my holdings before and after the restructure, however I am bamboozled how to input the resultant figures. The strand devoted to this topic closed without a full explanation, so when you finally do get to fix that could you post your method?
    Richard
  • John G
    John G Reckon Staff Posts: 1,569 Reckon Staff
    edited December 2016
    Hi Richard,

    Welcome to the Reckon Community.

    If it is the Westfield restructure you are interested in, we have a guide for it here.  

    This is only a simple guide and please do not overrule any other directives your Accountant has given you.


    regards,
    John

  • Richard Jasek
    Richard Jasek Member Posts: 4 Novice Member Novice Member
    edited March 2016
    Many thanks John. It took some hammering to make the numbers my accountant provided fit, however I have emerged bloodied but victorious. I wonder if I can pass on the bill to Westfield for such a horrendous restructure?
  • John G
    John G Reckon Staff Posts: 1,569 Reckon Staff
    edited December 2016
    Hi Richard,

    Congratulations on your achievement!

    regards,
    John
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