Correction for Wesfarmers Coles demerger corporate actions

Content also available for tax entities or on our global site.

Since we published the help guide on How to handle Wesfarmers and Coles demerger, Wesfarmers has released a more up-to-date information on CGT cost base allocation calculation.

This is the step by step guide to help you make the changes needed in your Sharesight portfolio.

1 – On the Portfolio Overview Page, click on Wesfarmers Ltd (WES.ASX) to go to the Individual Holding Page.

WES page 1

2 – Click ‘Adjust Cost Base’ trade.

WES C-2

3- Click ‘Delete this trade’ button.

WES C-3

4 - Click ‘Enter a new Trade or Adjustment’ button.

WES C-4

5 – On the pop-up window, select ‘Adjust Cost Base’ from the transaction type dropdown.

WES C 5-11

Based on the Demerger Scheme Booklet, set the:

6 – ‘Date of trade’: 21 November 2018

7 – ‘Demerger calculator’: Set the ratio to 71.09 : 28.91

8 – ‘Cost Base Reduction’: Enter the amount given in the Demerger Calculator.

Example If WES cost base as of the Scheme date is $42,950, Cost Base reduction is $12,416.85 ($42,950 x 28.91%).

Take note of the Cost Base Reduction amount

9 – Comment: Wesfarmers and Coles demerger. The Scheme Record Date is on 22 November 2018.

10 – ‘Choose a file’: to help keep your records in order, you can attach the Coles Demerger Scheme Effective letter.

11 – Click ‘Save this trade’.

12 – Click on Coles, COL on the Portfolio Overview Page, to go to the Individual Holding Page.

WES C-12

13 – Click ‘Opening Balance’ trade

WES C-13

14 – Input ‘Cost base’: Use the Adjusted Cost Base Reduction amount from Wesfarmers.

WES C 14-15

Example If WES cost base as of the Scheme date is $42,950, Cost Base reduction is $12,416.85 ($42,950 x 28.91%).

15 – Click ‘Save this holding’.

Last modified on December 19, 2018 UTC