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Taxation and Capital Gains
A Westfield Group Stapled Security comprises three separate assets for capital gains tax purposes (one Westfield Holdings share, one Westfield Trust unit and one Westfield America Trust unit).
For capital gains tax purposes you need to apportion the cost of each Stapled Security and the proceeds on sale of each Stapled Security over the separate assets that make up the Stapled Security. This apportionment should be done on a reasonable basis.
One possible method of apportionment is on the basis of the relative Net Tangible Assets of the individual entities.
Stapled Securities and Capital Gains Tax
Relative Net Tangible Assets (NTA) of entities in Westfield
| Westfield Holdings |
Westfield Trust |
Westfield America Trust |
Westfield Group Total |
|
|---|---|---|---|---|
| 31 Dec 04 | 9.24% | 49.86% | 40.90% | 100% |
| 30 Jun 05 | 7.11% | 51.95% | 40.94% | 100% |
| 31 Dec 05 | 8.05% | 51.66% | 40.29% | 100% |
| 30 Jun 06 | 8.02% | 54.90% | 37.08% | 100% |
| 31 Dec 06 | 7.38% | 58.43% | 34.19% | 100% |
| 30 Jun 07 | 7.54% | 59.22% | 33.24% | 100% |
| 31 Dec 07 | 8.07% | 62.46% | 29.47% | 100% |
| 30 Jun 08 | 6.83% | 65.29% | 27.88% | 100% |
General information can be found on the ATO website.
Westfield Trust and Westfield America Trust pay distributions which usually contain a tax deferred portion. We will confirm any tax deferred amounts paid to you in your annual taxation statement. More information about tax deferral is available from the ASX website.
The annual tax statements will be forwarded to investors each year during the
month of July.
If you are searching for information about how to complete past tax returns, please refer to the relevant tax guides on this website at Taxation Information.
This information is available at Investor Services on the Westfield Group website
Westfield.com and choose Taxation Information.
Special Note for Securityholders who Participated in the Merger
If you participated in the Merger but not through the Exchange by Sale Facility, the cost base of the securities acquired is set out in the table below.
Cost Base of Securities Acquired through Westfield Group Merger
|
|
|
Cost base of security acquired in the merger |
||
|
|
|
Westfield Holdings |
Westfield Trust |
Westfield America Trust |
|
Security held prior to the merger |
Westfield Holdings |
n/a |
$0.001 |
$0.001 |
|
Westfield Trust |
$0.01 |
n/a |
$1.00 |
|
|
Westfield America Trust |
$0.01 |
$1.00 |
n/a |
|
If you held Westfield Holdings shares prior to the Merger and you participated in the Merger, you may have realised a capital gain from the receipt of tax deferred amounts from the Trusts if the tax deferred amounts are greater than the cost base of your units
in the Trusts. We recommend that you contact your accountant or taxation adviser
on this matter.
Cost Base of New Securities
For cost base information of new securities please click here.
