Tabcorp Holdings Limited (TAH) completed the demerger of The Lottery Corporation Limited (TLC) on the 1 June 2022. The demerger has created two standalone businesses being The Lottery Corporation Limited (for Lotteries & Keno), and Tabcorp Holdings Limited (wagering & gaming).
Eligible shareholders received one The Lottery Corporation Limited (TLC) share for each Tabcorp Holdings Limited (TAH) share owned, on the record date of 25 May 2022.
The ATO has issued a Class Ruling CR 2021/50 for this demerger, and a copy can be obtained from the ATO website at: https://www.ato.gov.au/law/view/document?docid=CLR/CR202258/NAT/ATO/00001
- Click on 'Portfolio’ and then click on the portfolio, that has your TAH shares.
- Under the ‘Securities Held’ section, find the row TAH Tabcorp Holdings Limited (TAH)
- Click the drop-down button next to ‘Transactions’ on the same line and select ‘New Reconstruction’.
- In the Reconstruction window, enter the following:
- Date: 25th May 2022. The “number of shares participating” should be the same as the number of TAH shares owned on the record date. In this example 1000.
- Under “New holdings for which rollover relief applies” Complete the following:
- Code: TAH, Quantity: same amount as “number of shares participating” (1000), and Cost base rolled over (%): 17.76 %
- Click on the “plus symbol” to add another line.
- On the new line, Code: TLC, Quantity: same amount as “number of shares participating” (1000), and Cost base rolled over (%): 82.24%
- Then click on the “Trade Allocation Tab” and check your “Allocation of Trades” method.
6. Click “Save” and you have accounted for the TAH/TLC demerger in Portfolio Director.
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