woolworths demerger tax implications 21 Nov woolworths demerger tax implications

Section 8 of the Shareholder Circular contains disclosure of the general tax consequences of the demerger for certain shareholders and ADS holders of BHP Billiton Limited that are tax resident in Australia, New Zealand, the UK or the US, and of BHP Billiton Plc . Stacey sold all of her 2,000 shares on 10December 2012 for $58,800.00, or $29.40 each. 8 Best Vegan Cereal Brands to Start Breakfast off Right! What are the taxation implications?Assuming that tax demerger relief is obtained, there shouldn't be any tax implications for Australian resident shareholders from the demerger per se. The intention of this clause is to encourage transfers driven by strategic economic considerations and not to encourage transfer of individual assets of an undertaking under the guise of demerger. Create your myGov account and link it to the ATO, Help and support to lodge your tax return, Occupation and industry specific income and work-related expenses, Residential rental properties and holiday homes, Instalment notices for GST and PAYG instalments, Your obligations to workers and independent contractors, Encouraging NFP participation in the tax system, Australian Charities and Not-for-profits Commission, Departing Australia Superannuation Payment, Small Business Superannuation Clearing House, Annual report and other reporting to Parliament, Complying with procurement policy and legislation. Property means capital assets in the form of immoveable property being land or building or both, shares and securities, jewellery, archaeological collections, drawings, paintings, sculptures, any work of art or bullion and virtual digital asset. Another way to value the parts is to consider the whole. This was completed in February 2020 and Woolworths' intention was to pursue a separation of Endeavour Group from Woolworths Group. The entities involved in a demerger are companies and that the transfer is pursuant to a scheme of arrangement under Sections 230 to 232 of the Companies Act, 2013; The demerger involves transfer of one or more undertakings (demerged undertaking) by the transferor company (demerged company) to the transferee company (resulting company); All the property of the demerged undertaking, immediately before the demerger, becomes the property of the resulting company by virtue of the demerger; All the liabilities of the demerged undertaking, immediately before the demerger, become the liabilities of the resulting company by virtue of the demerger; The property and the liabilities of the undertaking are transferred at values appearing in its books of account immediately before the demerger. References in this Demerger Booklet to the "Sierra Rutile Board" or to "Sierra Rutile Directors" means the board or directors of Sierra Rutile immediately prior to implementation . Applicability of GAAR on a merger / demerger. If you wanted to keep your stapled securities you had to return the Unit Retention Form by 5pm (Sydney time) on 21 March 2013. If you owned Woolworths shares on 30November 2012 but sold them before 11December 2012, you must include the following amounts in your 201213 tax return: Work out your capital gain or capital loss on the sale of your Woolworths shares by comparing the cost base of your shares and the sale proceeds. The capital return amount was $0.7299279 for every five Woolworths shares you owned on 30November 2012. // -->