"Scheme of Arrangement" of Coles -

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  • Updated 2 months ago
Hi, Wesfarmers did a spin off by "Scheme of Arrangement" of Coles - how do I enter this in transactions in Personal Plus ?
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Amanda

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Posted 2 months ago

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David

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Open the investing account in which the Wesfarmers shares are held. Click on enter transaction and in the drop-down menus select corporate Securities spinoff. Fill in the required information with the name of the new security shares issued cost for old and new shares excetera
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Amanda

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Thank you very much David for your prompt answer .... I have just done this and that worked, and to think I have been sitting on this for months wondering where I enter this in my portfolio.   Thank you again. 

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Diver Dave

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Amanda, you can either use the the Corporate Spin-off David referred to, or enter the two constituent elements - a Return of Capital from Wesfarmers and a BUY of Coles for that exact amount.  The important thing is to make sure you have the correct allocation of the cost to Coles.  The Capital return should be 28.91% of the cost base of Wesfarmers.  It's also worth noting that RPP doesn't allocate the return correctly if you have multiple parcels of Wesfarmers shares. 
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Chris Thompson

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Coles Group Ltd is not automatically downloading the share price
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Diver Dave

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Have you looked. At select quotes list to make sure Coles (COL) is checked, Chris?