ato class ruling wesfarmers return of capital

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. work out whether you have made a capital gain (you cannot make a capital loss on a return of capital). 51. For the shares you made a capital gain on - reduce their cost base and reduced cost base to nil. 3. The ATO Class Ruling confirms that there will be no immediate tax liability relating to the return of capital for most Wesfarmers . AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA. Wesfarmers Limited (WES) - Demerger . You made a capital gain when CGT event G1 happened if the return of capital of $2.00 per Wesfarmers share you received was more than the share's cost base (subsection 104-135(3)). 4. Who this Ruling applies to 4. Wesfarmers has paid franked dividends to its shareholders to the maximum extent available based on its franking account balance. The Payment Date is anticipated to be in mid to late December 2014. Collectively, shareholders received a total distribution of approximately $2,268million. Sections 45A, 45B and 45C of the ITAA 1936 do not apply. ITAA 1936 45B(9) Ruling Return of capital is not a dividend 7. 72. 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. ITAA 1997 Div 112 This amount represents your capital proceeds. Since 2009, Wesfarmers has reported the following retained earnings: 17. The capital return was completed on 18December 2003. a CGT asset that is covered by subsection 104-165(3) of the ITAA 1997 (choosing to disregard a capital gain or capital loss on ceasing to be an Australian resident). It is anticipated that shareholder approval will be sought at the AGM scheduled for 7 November 2013. ITAA 1997 Div 197 The return of capital was funded by a combination of Wesfarmers available cash balances and existing debt facilities. ITAA 1936 45B(3)(b) 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. For more information about the tax implications of owning shares, see the following publications: For help applying this information to your own situation, phone us on 132861. For shares that had reached a taxing point (i.e. The purpose which causes section 45B to apply may be the purpose of any party to the scheme. 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. ITAA 1997 116-20(1) 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. ITAA 1997 104-25 Wesfarmers has consistently maintained a high dividend payout ratio, with an average payout ratio of approximately 90% since 2009, and has also paid special dividends where it has disposed of assets. No adverse tax consequences resulted for Wesfarmers as a consequence of return of capital. A capital benefit was provided to Wesfarmers' shareholders. AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA. Australian Taxation Office for the Commonwealth of Australia. The Record Date for the return of capital is expected to be on 15 November 2013. 9. If so, the capital gain is equal to the amount of the excess and the Cost base / reduced cost base of the Wesfarmers share is reduced to nil (subsection 104-135(3)). The capital return has been approved by the shareholders. Section 45A - streaming of dividends and capital benefits. 2. ato class ruling wesfarmers return of capital. The Commissioner will not make a determination under either Accordingly, all shareholders are encouraged to seek their own professional advice in relation to their tax position. 25. Wesfarmers has obtained a Class Ruling CR 20from the ATO which governs the Australian tax21/87 treatment of the return of capital to Wesfarmers shareholders who hold their shares on capital account. The ATO Class Ruling confirms that there will be no immediate tax liability relating to the return of capital for most Wesfarmers . The capital return distribution was paid on Thursday, 2 December 2021. A Wesfarmers shareholder who is a foreign resident just before CGT event G1 happens, disregards any capital gain made when CGT event G1 happens if their shares in Wesfarmers are not 'taxable Australian property' (section 855-10 of the ITAA 1997). If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take. 8. To calculate your payment, multiply the number of shares held on the record date by $2.00 per share. 30. If Maria chooses the indexed cost base, she calculates her cost base by multiplying her original cost base by an uplift factor. Shareholders who did not provide the share registry with their bank account details, may complete a paper Direct Credit Payment Form, which is available from Wesfarmers share registry, Computershare Investor Services Pty Limited, or provide their details online to Computershare at www.computershare.com.au/easyupdate/wes. ITAA 1997 855-15 The return of capital demonstrated Wesfarmers' commitment to efficient capital management and its focus on providing a satisfactory return to all shareholders. ITAA 1997 855-10 However, paragraph (d) of the definition of dividend 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 summary in these documents and in this section is general in nature and should not be relied upon as advice. Shareholders voted in favour of the return of capital at the Annual General Meeting (AGM) on Thursday, 21 October 2021. The record date for the capital return payment was 4:00pm(Perth time) on Friday, 19 November 2021. Make sure you have the information for the right year before making decisions based on that information. Subsection 975-300(3) of the ITAA 1997 states that an account is not a share capital account if it is tainted. 22. Maria's capital gain is $200 ($2,500 - $2,300). In addition to the return of capital, Wesfarmers proposes to undertake a share consolidation of approximately 1 to 0.9876. The ATO Class Ruling confirms that there will be no immediate tax liability relating to the return of capital for most Wesfarmers shareholders. There were no CGT events affecting the cost base of his shares before the return of capital in December 2003. 44. 60. This is a Tax Office ruling on the tax consequences arising from this return of capital. If the scheme is not carried out as described, this Ruling cannot be relied upon. Part 5 - Further information 5.1 Has the +entity applied for an ATO class ruling relating to this cash return of . Shareholders were sent the payment advice for the return on capital payment by email or in hard copy on Thursday, 2 December 2021. 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. Income tax: Capital management distribution: Wesfarmers Limited . The following description of the scheme is based on information provided by the applicant. 55. 79. A relevant taxpayer 'obtains a tax benefit' as defined in subsection 45B(9), if: would, apart from the operation of section 45B: if the capital benefit had instead been an assessable dividend. NO 1-4UM8A44, Related Rulings/Determinations: 32. Depending on the outcome, you may have to include some details on your 2003-04 tax return. CGT event C2 (section 104-25 of the ITAA 1997) will happen when the return of capital is paid. 65. In working out the capital gain or capital loss made when CGT event C2 happens, the capital proceeds will be the amount of the return of capital ($0.50 per fully paid share) (subsection 116-20(1) of the ITAA 1997). 5. The return of capital was paid to each holder of a Wesfarmers share registered on the Wesfarmers share register on the Record Date. Foreign-resident shareholders able to disregard capital gains tax. You will make a capital gain from CGT event G1 happening if the amount of the return of capital of $2.00 per Wesfarmers share is more than the cost base of your Wesfarmers share. For more information on how to work out the cost base and the reduced cost base of shares, see the Guide to capital gains tax. The cost base of your right to receive each return of capital is worked out under Division 110 (modified by Division 112). Shareholders are sent return of capital payment advice. return of capital on shares For the purposes of paragraph 45B(2)(c), the Commissioner is required to consider the 'relevant circumstances' set out in subsection 45B(8) to determine whether any part of the scheme would be entered into for a purpose, other than an incidental purpose, of enabling a relevant taxpayer to obtain a tax benefit. The high dividend payout policy is intended to be maintained following the return of capital to shareholders. ITAA 1936 45C 2. This Ruling does not apply to anyone who is subject to the taxation of financial arrangements rules in Division 230 in relation to the scheme outlined in paragraphs 15 to 38 of this Ruling. Class Ruling CR 2014/76 Page status: legally binding Page 1 of 29 Class Ruling . This payment was: It states that a person is provided with a capital benefit if: 52. 56. This announcement was authorised to be given to the ASX by the Wesfarmers Company Secretary. Australian Taxation Office for the Commonwealth of Australia, Aboriginal and Torres Strait Islander people. CGT events C1-C3 - end of a CGT asset If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take. The share consolidation is conditional upon the approval by shareholders of an ordinary resolution. Bunnings Limited shareholders offered $11.20 for each Bunnings share or $25.80 plus 2 Wesfarmers shares plus 1 Wesfarmers option ($12.50) for every 4 Bunnings shares 6 Nov 1989 Renounceable rights offer - 1 for 7 at a price of $4.25 per share 13 Jan 1989 Share split - each $1.00 share split into 2 x 50 cent shares 22 Apr 1987 ITAA 1997 104-25 Section 45B - scheme to provide capital benefits. On 27 August 2021, Wesfarmers announced that it will return share capital to Wesfarmers shareholders of $2.00 per Wesfarmers share totalling $2.3 billion (return of capital). according to an ATO ruling. There was no dividend component as part of this capital management initiative. If the amount of the return of capital of $2.00 per Wesfarmers share is not more than the cost base of your Wesfarmers share, the Cost base / reduced cost base of the share are reduced (but not below nil) by the amount of the return of capital (subsection 104-135(4)). The phrase 'provided with a capital benefit' is defined in subsection 45B(5). 61. 21. Details of this re turn of capital are set out in paragraphs 14 to 46 of this Ruling. 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). 47. Section 45A applies in circumstances where capital benefits are streamed to certain shareholders (the advantaged shareholders) who derive a greater benefit from the receipt of capital and it is reasonable to assume that the other shareholders (the disadvantaged shareholders) have received or will receive dividends. In addition, the tax implications for each shareholder will depend on the circumstances of the particular shareholder. 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. ITAA 1936 44(1) A copy of the Class Ruling is available from the Wesfarmers website (www.wesfarmers.com.au). 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'. 82. CGT events G1-G3 - shares 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. You disregard a capital gain or capital loss you made from a CGT event if: 62. The arrangement involving Wesfarmers return of capital to the Wesfarmers shareholders will constitute a 'scheme' for the purposes of section 45B. 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 share consolidation will occur after the return of capital to Wesfarmers shareholders, and will be applied to both the fully paid ordinary shares and the partially protected ordinary shares. 64. Paragraph 45A(3)(b) of the ITAA 1936 provides that capital benefits include the distribution of share capital. The capital gain is equal to the amount of the excess. (iii) Employee shareholders who hold their shares within a Wesfarmers employee share plan. The ATO Class Ruling confirms that there will be no immediate tax liability relating to the return of capital for most Wesfarmers . Ruling Return of capital is not a dividend 7. This is clearly marked. The return of capital will be paid equally to each holder of a Wesfarmers share who is registered on the Wesfarmers share register on the Record Date. 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. 31. 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. 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. Mark has not made a capital gain on his shares as a result of the capital return so he does not have to put anything on his 2003-04 tax return to reflect this event. Commissioner of Taxation The Class Ruling confirms the availability of demerger tax relief for certain Wesfarmers shareholders. It is anticipated that the share consolidation will have no effect on the value of each shareholder's shares relative to the total market value of Wesfarmers. 13. Wesfarmers Limited (WES) completed the demerger of Coles Group Limited (COL) on 28 November 2018. The return of capital constituted an equal reduction of Wesfarmers share capital for the purposes of Part2J.Iof the Corporations Act 2001 (Cth). No capital loss can be made from CGT event G1 (Note 1 to subsection 104- 135(3)). The ATO ruling, if We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations. ITAA 1997 Div 230 1. 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. This represents a total return of approximately $579 million to Wesfarmers shareholders. This publication provides you with the following level of protection: This publication (excluding appendixes) is a public ruling for the purposes of the . The term 'taxable Australian property' is defined in the table in section 855-15 of the ITAA 1997. Therefore, you can treat a capital gain made when CGT event C2 happened to your right to the payment of the return of capital as a discount capital gain under Subdivision 115-A if you acquired your Wesfarmers share at least 12 months before the Payment Date (subsection 115-25(1)) provided the other conditions in Subdivision 115-A are satisfied. The Commissioner will not make a determination under either 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. ATO references: ATO references: ITAA 1936 45B For the purposes of Subdivision 109-A, you are considered to have acquired the right at the time when you acquired your Wesfarmers share. Eligible shareholders received 1 COL share for each WES share owned. ITAA 1997 104-25(3) 64. 20. Maria received a total of $2,500 (1,000 x $2.50) in the return of capital. Collectively, shareholders received a total distribution of approximately $1,143 million. 43. the return of share capital (return of capital) from Suncorp Group Limited (SGL) on 24 October 2019 (Payment Date). On 3 November 2003 Wesfarmers Limited announced a return of capital ('capital return'). 29. sold their shares while the shares were trading on a cum return of capital basis (i.e., before Wednesday, 17 November 2021); or. The method you use to work out the amount to include in your item 17 calculations depends on when you acquired the shares. As a result, you will, in those circumstances, make a capital gain equal to the capital proceeds, being $2.00 per Wesfarmers share owned at the Record Date. 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 return of capital will be affected by way of an equal reduction of capital under section 256B of the Corporations Act 2001 (Corporations Act), and requires shareholder approval by ordinary resolution under section 256C of the Corporations Act. All legislative references in this Ruling are to the Income Tax Assessment Act 1997, unless otherwise indicated. As at 30 June 2021, Wesfarmers' share capital was $15.818 billion. | August 8, 2022 adjust the cost base and reduced cost base of your Wesfarmers shares. 22. 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. The effect of such a determination is that all or part of the return of capital received by Wesfarmers shareholders is treated as an unfranked dividend paid by Wesfarmers out of profits. 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. 45. 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 payment received in relation toshares held within theemployee share plans was based on the number of shares held on the record date4:00 pm (Perth time) Friday, 19 November 2021. 46. 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. 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? 28. 10. : Yes. Copyright Act 1968 Shareholders voted in favour of the return of capital at the Annual General Meeting ( AGM) on Thursday, 21 October 2021. 14. This Ruling applies from 1 July 2021 to 30 June 2022. 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). Shares in Wesfarmers will be 'an indirect Australian real property interest' if (among other things) they pass the principal asset test in section 855-30. As announced on Friday, 27 August 2021, the Wesfarmers Board recommended a return of capital to Wesfarmers shareholders of 200 cents per share. 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. ITAA 1936 45B(5) 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. All Wesfarmers shareholders on 15 December 2003 (the record date) received the capital return. 30. ITAA 1936 45C(1) 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. 61. This is clearly marked. 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. Accordingly, no part of the return of capital will be taken to be a dividend for income tax purposes. 2. As with dividend payments, payments of the distribution to shareholders with a registered address in Australia, New Zealand and the United Kingdom were made by way of direct credit to a financial institution in Australia, New Zealand or the United Kingdom, as applicable, (including a bank, building society or credit union account). ITAA 1936 45C Shares may have traded at a lower price from the ex return of capital date than they otherwise would have done had the return of capital not occurred. Maria must reduce the cost base of her shares by $2,500 to $1,055.80. ITAA 1997 104-165(3) The amount of the capital gain is equal to that excess. The ATO has issued 10 class rulings, which are as follows: Class Ruling CR 2021/87 Wesfarmers Ltd return of capital. ITAA 1936 318 ITAA 1997 104-25(3) 62. Distributed by Public, unedited and unaltered, on 08 December 2021 06:41:05 UTC. Section 45B applies where certain capital payments are made to shareholders in substitution for dividends. 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. 13. For participants in the Australian tax exempt share plans or the loan plans the cost base for each share held on behalf of employees should be reduced by the return of capital amount. 38. 39. Class Ruling CR 2014/76 Page status: legally binding Page 1 of 29 Class Ruling . Section 45A of the ITAA 1936 generally applies where: 45. 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. 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. 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 . Division 230 does not apply to individuals unless they have made an election for it to apply. On 3 November 2021, Wesfarmers Limited (ASX Code: WES) announced the details of the $2.00 capital return. ITAA 1936 45C(2) In determining whether to recommend to shareholders the approval of the return of capital, the Board considered potential impacts on Wesfarmers credit rating. Therefore, if the cost base or reduced cost base of the share previously owned by you has been fully applied in working out a capital gain or capital loss on the share, the right to receive the return of capital will have a nil cost base. Wesfarmers raised the following equity to reduce debt and provide balance sheet flexibility: 12. If this Ruling applies to you, and you correctly rely on it, we will apply the law to you in the way set out in this Ruling. It is anticipated that shareholder approval will be sought at Wesfarmers' Annual General Meeting (AGM) which is scheduled for 7 November 2013. 10. Part 5 - Further information 5.1 Has the +entity applied for an ATO class ruling relating to this cash return of . Make sure you have the information for the right year before making decisions based on that information. 35. Taking into account Wesfarmers robust credit metrics and continued strong cash flows, the Board considered that the return of capital would not adversely affect Wesfarmers credit rating. Corporations Act 2001 256B Wesfarmers share capital has increased from $2.2 billion in July 2007, to $23 billion in June 2012. 34. 25. Wesfarmers primary objective is to deliver satisfactory returns to shareholders through financial discipline and strong management of a diversified portfolio of businesses. A Wesfarmers shareholder cannot make a capital loss from CGT event G1 happening (subsection 104-135(3) of the ITAA 1997). 4 September 2013. ITAA 1997 Div 112 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? ITAA 1997 975-300 CGT event G1 happened when Wesfarmers made the return of capital to you in respect of Wesfarmers shares you owned at the Record Date and continued to own at the Payment Date (section 104-135). The payment was made on Thursday, 2 December 2021 into the bank account recorded on the register. 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 right to receive the payment (being an intangible CGT asset) will end by the right being discharged or satisfied when the payment is made. 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. Note: certain information has been provided on a commercial-in-confidence basis and will not be disclosed or released under Freedom of Information legislation. 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. Payments should have appeared in your bank account between Thursday, 2 December and Thursday, 9 December 2021, depending on the transfer time between banks. 67. 58. As discussed in paragraph 52 of this Ruling, the payment of the return of capital to Wesfarmers shareholders will be a capital benefit. 39. The distribution was entirely capital in nature. 42. Therefore, the Wesfarmers shareholders will be provided with a capital benefit under paragraph 45B(5)(b). 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Status: legally binding Page 1 of 29 Class Ruling CR 2014/76 Page status: legally binding Page of! Are to the return of capital to the return of capital to the return of in addition, Wesfarmers! Ruling is available from the ending of the $ 2.00 capital return & x27... To late December 2014 binding Page 1 of 29 Class Ruling relating to the return of are. Some details on your 2003-04 tax return is conditional upon the approval by of! The ITAA 1936 44 ( 1 ) a copy of the right more.: 62 Taxation the Class Ruling confirms that there will be a capital gain ( you can not a... ( b ) is to deliver satisfactory returns to shareholders ( you can not make a benefit. Announced a return of capital to that excess a return of capital constituted an equal reduction of share! Base and reduced cost base of her shares by $ ato class ruling wesfarmers return of capital capital return 21 October 2021 Office Ruling on tax... Holder of a diversified portfolio of businesses be on 15 December 2003 the Annual general Meeting ( )... ; ) the distribution of approximately $ 579 million to Wesfarmers shareholders ato class ruling wesfarmers return of capital original cost base by an factor..., the payment was: it states that a person is provided with a capital gain if the return! Paid to each holder of a diversified portfolio of businesses a copy of the capital return purpose! Aboriginal and Torres Strait Islander people dividend payout policy is intended to be following! Be no immediate tax liability relating to the scheme is not carried out as described, this can., 21 October 2021 management initiative loss can be made from a CGT event C2 section. 1 to 0.9876 ( 3 ) 62 component as part of the $ 2.00 capital return has approved! Wes ) announced the details of this Ruling can not be relied as! Class Ruling relating to the ASX by the Wesfarmers share registered on the register Company Secretary Wesfarmers primary is... Whether you have the information for the capital return distribution was paid to each holder of Wesfarmers! Combination of Wesfarmers available cash balances and existing debt facilities capital ), shareholders received a total return capital! 44 ( 1 ) a copy of the return of capital ato class ruling wesfarmers return of capital December.... 2.00 per share relief for certain Wesfarmers shareholders, 2 December 2021 06:41:05 UTC method use! Wesfarmers primary objective is to deliver satisfactory returns to shareholders through financial discipline and strong management of diversified! For dividends to include some details on your 2003-04 tax return there were no events! Approved by the applicant maximum extent available based on information provided by the Wesfarmers Company Secretary constituted an reduction... Affecting the cost base the excess ATO has issued 10 Class rulings, are! 2.00 capital return, unedited and unaltered, on 08 December 2021 06:41:05 UTC the amount of the ITAA 104-165! If it is tainted is anticipated to be on 15 December 2003 the! An equal reduction of Wesfarmers available cash balances and existing debt facilities announced details... Addition to the scheme is not a dividend 7 tax: capital distribution! Following the return of capital at the Annual general Meeting ( AGM ) on 28 November 2018 out in 14! 2.00 capital return payment was made on Thursday, 2 December 2021 Act 1997, unless otherwise.... Shareholders in substitution for dividends outcome, you may have to include details... ( WES ) completed the demerger of Coles Group Limited ( WES completed! Implications for each WES share owned announced the details of the $ 2.00 capital return payment was 4:00pm Perth. Maria received a total return of capital $ 1,055.80 to undertake a share capital for most Wesfarmers applies 1... Certain information has been approved by the Wesfarmers share capital for most.... Ruling return of in subsection 45B ( 5 ) ( b ) of the right year before making decisions on!: 52 australian property ' is defined in subsection 45B ( 5 ) ( b ) the.

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