How to handle Suncorp distribution (2019)

For Suncorp’s 2025 return of capital, go to this page.

Sharesight makes it easy for investors to handle corporate actions and track the capital gains tax implications. The benefit of using Sharesight to track the Suncorp (SUN) distribution also ensures that you maintain an accurate record of your portfolio performance.

Suncorp announced a share consolidation and capital return on 07 August 2019.

Sharesight automatically populated the consolidation trade in your portfolio. For the capital return, you need to create a ‘Return of Capital’ trade and add the amount received (39 cents per share x quantity held).

How to handle this in Sharesight

1 – Click on Suncorp, SUN.ASX on the Portfolio Overview Page, to go to Individual Holding Page.

2 – Select Trades & Income tab

3 – Select Add trade or adjustment

Based on the Suncorp distribution announcement, set the:

4 – Paid on: 24 Oct 2019

5 – Date of trade: 24 Oct 2019

6 – Capital Return Value: 39 cents x quantity held on record date

Example: 1,000 shares x $0.39 = $390

7 – Click Save trade

FAQ

What is the reason for the capital return?

Suncorp distributes the remaining surplus capital from the sale of its Australian Life Insurance business to ordinary shareholders in the form of a $506 million capital return.

What do I receive for my shares?

You will receive a return of capital of $0.39 per share.

Where can I find more information?

You can find more details on the Suncorp Group website.

Is this a taxable event?

The capital return itself is not a taxable event. It’s considered a return of your original investment, not income. Therefore, it won’t be included in your assessable income for tax purposes. However, it will affect the cost base of your Suncorp shares, which is relevant for calculating capital gains tax if you sell your shares in the future.

In saying that, all shareholders should seek their own taxation advice.

How do I find my tax liability if I sell my Suncorp shares in the future?

You can use the Unrealised CGT report to work out your potential capital gains/losses.

How does this affect my Suncorp performance and cost base?

For performance return, the capital return increases unrealised gains (or reduce unrealised losses). You can see your total return (including special dividend) using the Performance report

The return of capital lowers your Suncorp’s total cost base.You can find your Suncorp cost base using the Historical Cost report. If you don’t have a Sharesight account, sign up here for free, enter the date you bought Suncorp, follow the steps above to keep track of the cost base.

The guide above is a suggestion on how to handle the corporate action in Sharesight and is not finance or tax advice. We advise you to consult your financial advisor or accountant. We also encourage you to review the official Documents for full details.

Last modified on March 5, 2025 UTC