What are the capital gains tax consequences of the cancellation of my TNCL shares?
A CGT event happened when your TNCL shares were cancelled. You may have made a capital gain or loss from this CGT event happening, depending on the cost base (or reduced cost base) of the shares. The tax consequences are different depending on when you acquired your TNCL shares. Shares acquired before 20 September 1985 If you acquired your shares in TNCL before 20 September 1985, any capital gain or loss you make from the cancellation will be disregarded. You will not be able to apply scrip for scrip rollover. The cost base and reduced cost base of each of the NC CDIs (or shares) that you acquired in the reincorporation is their market value at the time of the reincorporation. For a voting CDI the market value is $23.28. For a non-voting CDI the market value is $22.61. Shares acquired after 19 September 1985 For ordinary shares that you acquired after 19 September 1985, work out if you have made a capital gain or capital loss using the capital proceeds of $11.64 ($23.28/2) you received
