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STEP THREE - DEMERGER (No-Rollover Relief)


  1. Disposal of Units in Westfield
    1. Use the ATO 2018 Westfield Calculator to calculate your capital Gain or Loss. 
    2. Ensure the Reduced Cost Base in the calculator matches that of Simple Fund 360. 
    3. In the example above the reduced cost base for the WFD units is $35,609.66. The CGT Gain calculated by the ATO Calculator is $9,011.08. Therefore in Simple Fund 360 the consideration which the WFD shares will need to be sold for is 35609.66 + 9011.08 = $44,620.74
  2. Cash Received
    1. A Cash amount will be received in the bank for the demerger ( or issued by cheque if Bank details are not on file with the Registry). 
    2. This will be equal to $3.5153 per unit held in Westfield. 
    3. In the example above, the cash amount received was $17,576.50 ($3.5153 x 5000 units). 
  3. Units in Unibail-Rodamco
    1. Confirm with the Registry or broker statement the new units in Unibail-Rodamco. If you need to estimate you can use the following
    2. When Unibail-Rodamco completed the acquisition, they allocated 0.01844 stapled shares for every 1 WFD held (rounded down
    3. This amount is then converted to the final URW.ASX CDI instrument of 0.3688 (being 0.01844 x 20 CDI). For the example above this is equal to 5,000 x 0.01844 = 92 (rounded down). 92 x 20 = 1840
  4. Cost Base for Unibail-Rodamco
    1. This amount will be calculated in the ATO 2018 Westfield Calculator
    2. In the example above this is equal to $26,985.26
  5. Remaining amount between the Cost base of Unibail, Cash and Disposal of Westfield 
    1. The tax ruling notes that there may be fluctuations in the Unibail-Rodamco share price and exchange rates. This may cause a remaining amount outstanding between the Cost base of Unibail, Cash and Disposal of Westfield. This can be recorded to a Non-Deductible Expense account
    2. In the example above this is equal to $58.98.

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Instructions for Simple Fund 360

  1. Edit the Transaction received via the fund's bank feed or if the fund does not have a data feed create a new Bank Transaction
  2. Process a disposal for the consideration calculated 
  3. Enter a purchase for the number of units issues in URW and for the cost base calculated.  

 

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