Correction for Wesfarmers Coles demerger corporate actions

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.

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3- Click ‘Delete this trade’ button.

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

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

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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.

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13 – Click ‘Opening Balance’ trade

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

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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