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Wesfarmers Limited (WES) demerger of Coles Group Limited (COL) - November 2018

 

Wesfarmers Limited (WES) completed the demerger of Coles Group Limited (COL) on 28 November 2018. Eligible shareholders received 1 COL share for each WES share owned. 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 

Instructions for Wesfarmers shareholders who acquired their Wesfarmers shares on or after 20 September 1985 (post-CGT shares).

  1. Click on the 'Portfolio’ tab and then click on the appropriate under ‘My Portfolio(s)’, which includes the WES shares.
  2. Under the ‘Securities Held’ section, find the row Wesfarmers Limited (WES).
  3. Click the drop-down button next to ‘Transactions’ on the same line, and select ‘New Reconstruction’.


  4. In the Reconstruction window, enter the following:
    • Date as 22/11/2018.
      The number of shares participating, should be the same as the number of WES shares owned on this date.
    • Under “New holdings for which rollover relief applies” Enter the following:
      • Code: WES
      • Quantity: same amount as “number of shares participating” and
      • Cost base rolled over (%): 71.09%
      • Click on the plus symbol (+) to add another line.
      • On the new line, Code: COL
      • Quantity: same amount as “number of shares participating” and
      • Cost base rolled over (%): 28.91%
  1.  Click the ‘Trade Allocation’ tab.
    • Confirm that a trade allocation method has been selected.
      • If not, from the drop-down menu select one of the following options:
        Oldest First, Newest First, Smallest Capital Gain, Largest Capital Gain, or Same Proportion of Each.
  2. Click “Save” and you have accounted for the WES/COL demerger in Portfolio Director.
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