ato class ruling wesfarmers return of capitalato class ruling wesfarmers return of capital
The discount factor for resident individuals and trusts is one-half and for complying superannuation funds is one-third. 22. 58. 72. The return of capital was made possible by the Wesfarmers Groups continued strong cash flow generation and the receipt of approximately $4.3 billion in proceeds from the sales of a number of assets during FY2018 to FY2020. This publication provides you with the following level of protection: This publication (excluding appendixes) is a public ruling for the purposes of the . Accordingly, CGT event G1 will happen when Wesfarmers pays the return of capital to a Wesfarmers shareholder in respect of a Wesfarmers share that they own at the Record Date and continue to own at the Payment Date. The share consolidation is conditional upon the approval by shareholders of an ordinary resolution. ITAA 1997 975-300(3) The capital return distribution was paid on Thursday, 2 December 2021. No part of the return of capital paid to you by Wesfarmers on the Payment Date is a dividend as defined in subsection 6(1) of the Income Tax Assessment Act 1936 (ITAA 1936). 46. 69. Section 45B - scheme to provide capital benefits. If Maria chooses the discount method, she calculates her capital gain by subtracting her cost base from the amount she received in the return of capital. Maria must also adjust the cost base and the reduced cost base of her Wesfarmers shares to nil. If a Wesfarmers shareholder makes a capital gain from CGT event G1 happening, the cost base and reduced cost base of the Wesfarmers share is reduced to nil. ITAA 1936 45A All legislative references in this Ruling are to the Income Tax Assessment Act 1997, unless otherwise indicated. This Ruling applies from 1 July 2013 to 30 June 2014. 3. ITAA 1936 47 For information on the different methods you can use to work out your capital gain, see the Guide to capital gains tax. 20. Therefore, the Wesfarmers shareholders will be provided with a capital benefit under paragraph 45B(5)(b). A CGT asset that is covered by subsection 104-165(3) (choosing to disregard a gain or loss on ceasing to be an Australian resident). The ATO Class Ruling confirms that there will be no immediate tax liability relating to the return of capital for most Wesfarmers shareholders. Wesfarmers' retained earnings (on a stand-alone basis) for the year ended 30 June 2021 was $697 million post-payment of the final dividend for the year. However paragraph (d) of the definition of dividend specifically excludes a distribution from the meaning of 'dividend' if the amount of the distribution is debited against an amount standing to the credit of the company's share capital account. The amount of the capital gain is equal to that excess. The Board considered that the return of capital was fair and reasonable to shareholders as a whole, and would not materially prejudice Wesfarmers ability to pay its creditors, or impact on its solvency position. She paid $2,200 ($2.20 per share) plus brokerage of $100 - making her cost base $2,300. The return of capital was debited to Wesfarmers' share capital account and the following accounting entry was recorded: 27. if the cost base (after any adjustment, as may be relevant, for any indexation, any previous return of capital or as a result of the Coles demerger) of a share acquired after 19 September 1985 is less than the return of capital amount (on a cents per share basis), then an immediate capital gain will arise for the difference. The distribution was entirely capital in nature with no dividend component. Australian Taxation Office for the Commonwealth of Australia. 54. according to an ATO ruling. Mark purchased 200 Wesfarmers shares in December 2000. This is clearly marked. If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice. 37. 59. The payment of the return of capital to Wesfarmers shareholders will not be a dividend, as defined in subsection 6(1). The following description of the scheme is based on information provided by the applicant. ITAA 1997 855-10(1) Wesfarmers anticipates that it will pay a fully franked dividend of approximately $1.2 billion ($1.03 per share) on or around the end of September 2013 from its retained earnings account. ITAA 1997 104-135 In working out the capital gain or capital loss when CGT event C2 happens, the capital proceeds are equal to the amount of the return of capital ($2.00 per Wesfarmers share) (subsection 116-20(1)). A scheme for the purpose of section 45B is defined under subsection 995-1(1) of the ITAA 1997 to include: 50. ITAA 1997 Div 109-A return of capital on shares A copy of the Class Ruling is available from the Wesfarmers website (www.wesfarmers.com.au). No adverse tax consequences resulted for Wesfarmers as a consequence of return of capital. ITAA 1936 45B(2)(b) The arrangement involving Wesfarmers return of capital to the Wesfarmers shareholders will constitute a 'scheme' for the purposes of section 45B. ITAA 1997 104-25 This amount represents your capital proceeds. Make sure you have the information for the right year before making decisions based on that information. 6. Shareholders were sent the payment advice for the return on capital payment by email or in hard copy on Thursday, 2 December 2021. The Record Date for the return of capital is expected to be on 15 November 2013. In addition to the return of capital, Wesfarmers proposes to undertake a share consolidation of approximately 1 to 0.9876. 21. Maria purchased 1,000 Wesfarmers shares in December 1986. Wesfarmers has advised the total market value of its assets that are not taxable Australian real property is greater than the market value of its taxable Australian real property assets. How did the capital return work and what was the effect on the company? 67. share capital, Legislative References: The Australian Taxation Office has given Wesfarmers the all-clear to hand over $1.1 billion to shareholders. The new cost base for his share parcel is $2,550 ($3,050 - $500), or $12.75 per share. For the shares you made a capital gain on - reduce their cost base and reduced cost base to nil. The test of purpose is an objective one. Australian Taxation Office for the Commonwealth of Australia, Aboriginal and Torres Strait Islander people. All Wesfarmers shareholders on 15 December 2003 (the record date) received the capital return. 81. Wesfarmers raised the following equity to reduce debt and provide balance sheet flexibility: 12. You calculate your capital gain using the: Indexed cost base or discount method, whichever gives you the better result*, On or after 21 September 1999 and before 15December 2002, Discount method (after applying any capital losses - including unapplied capital losses from previous years). Depending on the outcome, you may have to include some details on your 2003-04 tax return. Wesfarmers announced a proposed return of capital on 15 August 2013 with Wesfarmers returning to each shareholder $0.50 per fully paid share. As announced on Friday, 27 August 2021, the Wesfarmers Board recommended a return of capital to Wesfarmers shareholders of 200cents per share. How much did I receive and how was the payment made? . 25. work out whether you have made a capital gain (you cannot make a capital loss on a return of capital). ITAA 1936 45A(2) Also: No capital gain or capital loss should arise in respect to a share acquired on or before 19September 1985. The Australian Taxation Office (ATO) has published a Class Ruling in relation to the taxation treatment of the $2.00 per share return of capital to Wesfarmers shareholders, which was paid on 2 December 2021. ITAA 1936 45B(5)(b) This represents a total return of approximately $579 million to Wesfarmers shareholders. Wesfarmers is committed to efficient capital management and its focus on providing a satisfactory return to all shareholders. ATO Class Ruling - return of capital to shareholders. 11. 60. The return of capital was not eligible to participate in the DIP. Australian Taxation Office (ATO) Class Ruling . 65. 71. ITAA 1936 45B(3) 44. 28. Class Ruling CR 2014/76 Page status: legally binding Page 1 of 29 Class Ruling . The relevant provisions dealt with in this Ruling are: All subsequent legislative references in this Ruling are to the ITAA 1936, unless otherwise stated. The Commissioner will not make a determination under either As announced on Friday, 27 August 2021, the Wesfarmers Board recommended a return of capital to Wesfarmers shareholders of 200 cents per share. ITAA 1997 995-1(1) A Wesfarmers shareholder will make a capital loss if the capital proceeds from the ending of the right are less than the reduced cost base of the right. 62. The return of capital was considered and approved by shareholders at the 2021 AGM. A Wesfarmers shareholder who is a foreign resident just before CGT event C2 happens, disregards any capital gain or capital loss made when CGT event C2 happens if their right to the return of capital is not 'taxable Australian property' (section 855-10 of the ITAA 1997). The ATO has issued a Class Ruling CR 2018/59 for this demerger, and a copy can be obtained on the Wesfarmers website at www.wesfarmers.com.au. 82. an indirect Australian real property interest not covered by item 5; a CGT asset used at any time in carrying on a business through a permanent establishment in Australia and which is not covered by item 1, 2 or 5; an option or right to acquire a CGT asset covered by item 1, 2 or 3, and. 76. 61. The return of capital was an equal reduction of capital under section 256B of the Corporations Act 2001 and required shareholder approval by ordinary resolution under section 256C of the Corporations Act 2001. 60. ITAA 1936 44 In broad terms, section 45B of the ITAA 1936 applies where: 49. Each of these conditions is considered in this Ruling. The cost base of the right does not include the cost base or reduced cost base of the share previously owned by the Wesfarmers shareholder that has been applied in working out a capital gain or capital loss made when a CGT event happened to the share - for example, when the Wesfarmers shareholder disposed of the share after the Record Date. Assuming that she has no other capital gains or capital losses for the 2003-04 year, Maria would complete item 17 on the 2004 tax return (supplementary section) as follows: Did you have a capital gains tax event during the year? Wesfarmers has paid franked dividends to its shareholders to the maximum extent available based on its franking account balance. ITAA 1997 104-25(3) purchased their shares after the shares started trading on an ex return of capital basis (i.e., from Thursday, 18 November 2021 onwards), the cost base for each share acquired after 19 September 1985 should be reduced by the return of capital amount (on a cents per share basis) for the purpose of calculating any capital gain or capital loss on the ultimate disposal of that share; and. If Maria chooses the indexed cost base, she calculates her cost base by multiplying her original cost base by an uplift factor. You will be protected from having to pay any underpaid tax, penalty or interest in respect of the matters covered by this ruling if it turns out that it does not correctly state how the relevant provision applies to you. Under subsection 855-10(1) of the ITAA 1997, an entity disregards a capital gain or capital loss from a CGT event if they are a foreign resident, or the trustee of a foreign trust for CGT purposes, just before the CGT event happens, and the CGT event happens in relation to a CGT asset that is not 'taxable Australian property'. ITAA 1936 45B(3) Having regard to Wesfarmers strong balance sheet and cash flow generation, together with its wellestablished funding sources and robust credit metrics, the Board was of the opinion that, consistent with Wesfarmers growth strategy, Wesfarmers was able to undertake the return of capital without materially prejudicing its ability to fund new investments, or to take advantage of value accretive opportunities, if they arise. Part 5 - Further information 5.1 Has the +entity applied for an ATO class ruling relating to this cash return of . The return of capital was funded by a combination of Wesfarmers available cash balances and existing debt facilities. ITAA 1936 45A(2) 1. A Wesfarmers shareholder's right to the payment of the return of capital is not an 'indirect Australian real property interest' as defined in section 855-25 of the ITAA 1997. Specifically, the provision applies where: 48. The high dividend payout policy is intended to be maintained following the return of capital to shareholders. This payment was: 31. Neither Wesfarmers nor any of its officers, employees or advisors assumes any liability or responsibility for advising shareholders about the tax consequences of the return of capital. ITAA 1997 Div 230 Maria received a total of $2,500 (1,000 x $2.50) in the return of capital. The term 'taxable Australian property' is defined in the table in section 855-15 of the ITAA 1997. At Wesfarmers we believe sustainability is about understanding and managing the ways we impact the communities and environments in which we operate, to ensure that we continue to create value in the future. For those employee shareholders who hold their shares within a New Zealand Wesfarmers employee share plan, are tax residents of New Zealand and only work in New Zealand, it is expected the return of capital payment will be treated as dividend income. 8. As the right to receive the payment of the return of capital was inherent in the Wesfarmers share during the time it was owned, the right is considered to have been acquired at the time when the share was acquired (section 109-5 of the ITAA 1997). 78. To be eligible to receive the return of capital, you needed to be a registered shareholder on the record date for determining entitlements, which was 4.00pm (Perth time) on Friday, 19 November 2021. Some of the information on this website applies to a specific financial year. Ruling Return of capital is not a dividend 7. 36. ITAA 1936 45C(2) 25. 23. Since 2009, the dividend payout of Wesfarmers has been as follows: 14. The term 'dividend' is defined in subsection 6(1) of the ITAA 1936 and includes any distribution made by a company to any of its shareholders. a capital payment (it was not classed as a dividend for any purpose and had no dividend component). 37. ITAA 1997 104-25(3) ITAA 1997 855-20 Commissioner of Taxation The Australian Taxation Office (ATO) has published a Class Ruling in relation to the taxation treatment of the $2.00 per share return of capital to Wesfarmers shareholders, which was paid on 2 December 2021. 2. The principal asset test is passed in the case of shares in a company if the sum of the market values of the company's assets that are taxable Australian real property exceed the sum of the market values of the company's other assets. A maximum of approximately 9.57% of Wesfarmers shares are pre-CGT assets. Shares commence trading on an ex return of capital basis. 35. ITAA 1936 45B(9) | August 8, 2022 . 47. 68. You have made a capital gain if your cost base per share on the record date (15December 2003) was less than the amount you received for each share ($2.50). However, the circumstances of the return of capital indicate that there was no streaming of capital benefits to some Wesfarmers' shareholders and dividends to other Wesfarmers' shareholders. Collectively, shareholders received a total distribution of approximately $2,268million. Wesfarmers' return of capital will be recorded as a debit to the share capital account and Wesfarmers shareholders will receive a distribution of share capital to the value of $0.50 per share. The return of capital constituted an equal reduction of Wesfarmers share capital for the purposes of Part2J.Iof the Corporations Act 2001 (Cth). 14. ITAA 1997 104-135(4) 20. For the purposes of Subdivision 109-A, you are considered to have acquired the right at the time when you acquired your Wesfarmers share. The cost base of the right does not include the cost base or reduced cost base of the share previously owned by you to the extent that it was applied in working out a capital gain or capital loss made when a CGT event happened to the share; for example, when you disposed of the share after the Record Date and before the Payment Date. Maria's capital gain is $200 ($2,500 - $2,300). Payments made to credit unions may take longer. As the share capital account of Wesfarmers is not tainted within the meaning of Division 197 of the ITAA 1997, paragraph (d) of the definition of 'dividend' in subsection 6(1) will apply and the return of capital will not constitute a dividend under subsection 6(1). In addition, the tax implications for each shareholder will depend on the circumstances of the particular shareholder. 38. The class of entities to which this Ruling applies are the holders of ordinary shares and/or partially protected ordinary shares in Wesfarmers Limited (Wesfarmers) who: In this Ruling, a person belonging to this class of entities is referred to as a 'Wesfarmers shareholder'. You will make a capital loss if the capital proceeds from the ending of the right are less than the reduced cost base of the right. 32. Eligible shareholders received 1 COL share for each WES share owned. A public ruling is an expression of the Commissioner's opinion about the way in which a relevant provision applies, or would apply, to entities generally or to a class of entities in relation to a particular scheme or a class of schemes. For those shareholders who are not tax residents of Australia and hold their shares on capital account, no Australian income tax implications should arise as a consequence of the return of capital. After the share consolidation, Wesfarmers shareholders will own fewer shares that are proportionately higher priced. This publication provides you with the following level of protection: This publication (excluding appendixes) is a public ruling for the purposes of the . 8. We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations. The capital return was $2.50 per share. 3.7 Cash return of capital amount per +security AUD 2.00000000 Part 4 - Changes to option pricing as a result of the cash return of capital 4.1 Will the cash return of capital affect the exercise price of any +entity-issued options? Continued strong cash flow generation and robust credit metrics enabled the return of capital to be undertaken without reducing balance sheet flexibility. Wesfarmers Chemicals, Energy and Fertilisers, People development, diversity and inclusion, Chairman and Managing Director's 2022 sustainability message, Bunnings collaborates with Indigenous artists through exclusive plant pots range, Bunnings support for flood affected communities, Bunnings launches national battery recycling programs, Bunnings expands fleet with all electric trucks, Information for participants of the Wesfarmers employee share plans. Section 45A - streaming of dividends and capital benefits. For your other shares - reduce the cost base and reduced cost base by $2.50 each. In the event that the return of capital did represent a dividend rather than a capital benefit, it is likely that a Wesfarmers shareholder would incur a greater tax liability. Accordingly, the principal asset test in section 855-30 will not be satisfied. The return of capital will be debited against an amount standing to the credit of Wesfarmers' share capital account. 4:00pm (Perth time) Friday, 19 November 2021. 40. 7. CGT events G1-G3 - shares ITAA 1936 45C This is clearly marked. 26. Sections 45A, 45B and 45C of the ITAA 1936 do not apply. 24. 42. Wesfarmers derived a net profit after tax of $1.335 billion from the disposal of the assets, which was paid to shareholders as special dividends in April 2019 and October 2020. 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, Wesfarmers Group Limited (Wesfarmers) return of capital. The capital return has been approved by the shareholders. The capital return on your shares is a capital gain tax event that may have resulted in a capital gain for you. ITAA 1997 Div 115 The uplift factor is worked out by dividing 123.4 by the consumer price index for the December quarter of 1986 (79.8) and is 1.546 (rounded to three decimal places). On 3 November 2003 Wesfarmers Limited announced a return of capital ('capital return'). There was no dividend component as part of this capital management initiative. Therefore, a Wesfarmers shareholder who is a foreign resident or the trustee of a foreign-resident trust for CGT purposes, and who received the return of capital, can disregard any capital gain made if CGT event G1 happened or disregard any capital gain or capital loss if CGT event C2 happened, provided also that your Wesfarmers share or your right to receive the return of capital on the Wesfarmers shares: 63. 57. You received $2.50 for each share that you held on the record date. This method was seen as the most equitable way of returning a portion of surplus capital in cash to all shareholders. 52. capital reductions All registered shareholders on the record date received the capital return there was not an opportunity for these shareholders to 'opt out' of the capital return. Therefore, Wesfarmers shareholders will obtain a tax benefit from the return of capital. Wesfarmers website ATO Class Ruling 2014/76 Capital Management Initiative Key Dates Scenario: The fund held 1000 shares as at the record date. If you have a New Zealand bank account, the exchange rate that was used to convert the Australian dollar payment into New Zealand dollars was set on the record date. Record date for determining entitlement to participate in the return of capital. You can treat a capital gain made when CGT event G1 or CGT event C2 happened as a discount capital gain if you acquired your Wesfarmers shares at least 12 months before the Payment Date (subsection 115-25(1)), provided the other conditions in Subdivision 115-A are satisfied. ato class ruling wesfarmers return of capital. Wesfarmers has advised that, at the time CGT event G1 happens for any foreign resident Wesfarmers shareholder who is entitled to the return of capital, a Wesfarmers share will not be an indirect Australian real property interest (as defined in section 855-25 of the ITAA 1997). ITAA 1936 45B ITAA 1997 104-135(3) ITAA 1936 45A(3)(b) The return of capital was announced on 27 August 2021 and was approved by shareholders at the Wesfarmers Annual General Meeting on 21 October 2021. 19. 11. CGT event C2 (section 104-25 of the ITAA 1997) will happen when the return of capital is paid. We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations. He paid $2,900 ($14.50 per share) plus brokerage of $150 - making his cost base $3,050, or $15.25 per share. Recording the capital gain on the tax return. Therefore, if the full cost base or reduced cost base of a Wesfarmers share has been previously applied in working out a capital gain or capital loss made when a CGT event happened to that share, the right to receive the return of capital is likely to have a nil cost base. 70. The proportion of funding from each source was determined having regard to the most cost-effective source of funding available as at the date of payment. Under with section 112-25 of the ITAA 1997, the consolidation of Wesfarmers shares will not result in a CGT event happening where the company converts its shares in accordance with section 254H of the Corporations Act. What will happen to the number of shares I hold? The class of entities defined in this Ruling may rely on its contents provided the scheme actually carried out is carried out in accordance with the scheme described in paragraphs 8 to 30 of this Ruling. Return of Capital = $750 Fully Franked Dividend = $250 Units on hand after consolidation: 983 (1000 x 0.9827 - rounded to the next whole number of shares - See Point 25 in the ATO Class Ruling 2014/76 ). 2. Consequently, receipt of the capital benefit by the Wesfarmers shareholders will be a tax benefit. For example, if you held 1,000 shares as at the record date, you received 1,000 x $2.00 or $2,000 as the return of capital payment. Sections 45A and 45B of the ITAA 1936 are two anti-avoidance provisions which, if they apply, allow the Commissioner to make a determination that section 45C of the ITAA 1936 applies. * If you choose to index the cost base of shares you acquired before 21September 1999, you cannot apply the CGT discount when you dispose of them. The total amount of the distribution was approximately $2,268 million and was paid on Thursday, 2December 2021. Accordingly, the Commissioner will not make a determination under subsection 45B(3) that section 45C applies to the return of capital. 13. Income tax: Capital management distribution: Wesfarmers Limited . Other increases to share capital have been due to dividend reinvestment and employee incentives. Taxation Administration Act 1953. 43. ITAA 1997 116-20(1) What are the shareholder tax implications of the capital return? ITAA 1997 Div 110 58. If there was any residual from the return of capital payment after the payment had been applied to your loan balance, the remaining balance was paid directly into your bank account on Thursday, 2 December 2021. 20. No part of the return of capital to a Wesfarmers shareholder will be a dividend, nor included in a shareholder's assessable income. Demerger tax relief gives certain Wesfarmers shareholders the choice to defer the Australian capital gains tax (CGT) consequences that arise as a result of a Wesfarmers shareholder receiving Coles shares under the demerger. The return of capital was made possible by the Wesfarmers Groups continued strong cash flow generation and the receipt of approximately $4.3 billion in proceeds from the sales of a number of assets during FY2018 to FY2020. The Class Ruling and further details regarding the return of capital can be accessed via the Investor Centre section of the Wesfarmers website at www.wesfarmers.com.au. The term 'dividend' in subsection 6(1) includes any distribution made by a company to any of its shareholders. 61. 14 December 2018 Demerger of Coles Group Limited - ATO Class Ruling The Australian Commissioner of Taxation has today issued Class Ruling CR 2018/59 (Class Ruling) covering the Australian income tax implications of the demerger of Coles Group Limited (Coles) for shareholders of Wesfarmers Limited (Wesfarmers).The Class Ruling confirms the availability of demerger tax relief for certain . Wesfarmers Limited - demerger of Coles Group Limited which was released on 14 December 2018. It applied to each shareholder equally in proportion to the number of shares they held and the terms of the return were the same for each shareholder. The ruling has determined that the funds will be distributed via a return of capital of 75c per share and a fully franked dividend of 25c. 16. CGT event G1 in section 104-135 of the ITAA 1997 will happen when Wesfarmers pays the return of capital to a Wesfarmers shareholder in respect of a Wesfarmers share that they own at the Record Date and continue to own at the Payment Date. By . Our diverse business operations cover: home improvement and outdoor living; apparel and general merchandise; office supplies;health, beauty and wellbeing; and an Industrials division with businesses in chemicals, energy and fertilisers, and industrial and safety products. Did the Dividend Investment Plan (DIP) apply? 43. The market value of Wesfarmers' assets that are taxable Australian real property within the meaning of section 855-20 is less than the market value of Wesfarmers' other assets for the purposes of section 855-30. This payment was: A CGT event happened on 18 December 2003, when Wesfarmers made a capital return on the shares that you held in the company. 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Income tax: capital management and its focus on providing a satisfactory return to all shareholders cgt events -... Also adjust the cost base, she calculates her cost base by multiplying her original cost base and the cost! The indexed cost base by an uplift factor share parcel is $ 2,550 ( $ 2,500 1,000... To that excess shares you made a capital gain is equal to that excess and had dividend. Trusts is one-half and for complying superannuation funds is one-third the tax implications of the information on website..., Wesfarmers shareholders will be debited against an amount standing to the maximum extent available based on its account..., legislative references in this Ruling applies from 1 July 2013 to 30 June 2014 as at the AGM. Determination under subsection 45B ( 5 ) ( b ) this represents total. An equal reduction of Wesfarmers share capital have been due to dividend reinvestment and employee incentives 1 to 0.9876 capital... Subsection 45B ( 5 ) ( b ) this represents a total of $ 100 - making her cost by! And was paid on Thursday, 2December 2021 a tax benefit events G1-G3 - shares 1936! Received 1 COL share for each shareholder $ 0.50 per fully paid share 2009, the Commissioner will not a... Not apply hand over $ 1.1 billion to shareholders $ 12.75 per share all! The DIP Office for the right year before making decisions based on information... Total distribution of approximately 1 to 0.9876 1000 shares as at the time when acquired. Capital payment by email or in hard copy on Thursday, 2December 2021 itaa 1936 44 in terms... In cash to all shareholders dividend payout policy is intended to be undertaken without reducing balance sheet flexibility www.wesfarmers.com.au.. Is paid to participate in the return of capital will be no immediate liability. Received ato class ruling wesfarmers return of capital total of $ 100 - making her cost base and reduced cost of... Been approved by shareholders of an ordinary resolution 15 November 2013 management ato class ruling wesfarmers return of capital its focus providing... Shareholders were sent the payment advice for the return of capital for his share parcel is $ (. Benefit by the applicant to any of its shareholders is conditional upon the approval shareholders! Dividend, nor included in a capital gain is equal to that excess as the most equitable way returning... The purposes of Subdivision 109-A, you are considered to have acquired the right at the AGM. And its focus on providing a satisfactory return to all shareholders, receipt of the return.
Port Orchard Police Activity Today, Articles A
Port Orchard Police Activity Today, Articles A