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* In all cases the dividend as
stated was fully franked
+ If the Capital Proceeds exceed
the cost base, the difference is a Capital Gain. If the Capital
Proceeds are less than the reduced cost base, the difference is a
Capital Loss.
Note 1:
If the capital proceeds of $13.92 were more than the
cost base of the share, the difference was a capital gain to the
shareholder in 2003–04. If $13.92 was less than the share’s reduced
cost base, the difference was a capital loss.
Note 2: For capital gains tax
purposes, shareholders are taken to have received $2.16 per share.
If the capital proceeds of $2.16 were more than the cost base of the
share, the difference was a capital gain in 2003–04. If $2.16 was
less than the share’s reduced cost base, the difference was a
capital loss.
Note 3: If shares sold were
obtained under the demutualisation, there were no capital gains tax
consequences, because the buy-back price consisted of capital
proceeds of $ 1.78 and a fully franked dividend equal to the balance
of the buy-back price in excess of $ 1.78. If the shares were
purchased through the Facility there is a capital loss and if the
shares were purchased on the market, whether a capital gain or
capital loss was made, depended on the cost base of the shares.
Note 4: For capital gains tax
purposes, shareholders are taken to have received $7.21 per share.
If the capital proceeds of $7.21 were more than the cost base of the
share, the difference was a capital gain to the shareholder in
2003–04. If $7.21 was less than the share’s reduced cost base, the
difference was a capital loss.
Note 5: For capital gains tax purposes,
shareholders are taken to have received $4.04 per share in this
off-market share buy-back. If the capital proceeds of $4.04 were
more than the cost base of the share, the difference is a capital
gain to the shareholder in 2004–05. If $4.04 was less than the
share’s reduced cost base, the difference is a capital loss.
Note 6: For capital gains tax purposes,
shareholders are taken to have received $4.79 per share. If the
capital proceeds of $4.79 were more than the cost base of the share,
the difference is a capital gain to the shareholder in 2004–05. If
$4.79 was less than the share’s reduced cost base, the difference is
a capital loss.
Note 7: For capital gains tax purposes,
shareholders are taken to have received $3.84 per share. If the
capital proceeds of $3.84 were more than the cost base of the share,
the difference is a capital gain to the shareholder in 2004–05. If
$3.84 was less than the share’s reduced cost base, the difference is
a capital loss.
Note 8: For capital gains tax purposes,
shareholders are taken to have received $6.44 per share. If the
capital proceeds of $6.44 were more than the cost base of the share,
the difference is a capital gain to the shareholder in 2004-05. If
$6.44 was less than the share’s reduced cost base, the difference is
a capital loss.
Note 9: For capital gains tax purposes,
shareholders are taken to have received $2.25 per share. If the
capital proceeds of $2.25 were more than the cost base of the share,
the difference is a capital gain to the shareholder in 2004–05. If
$2.25 was less than the share’s reduced cost base, the difference is
a capital loss.
Note 10: There was no dividend
component. For capital gains tax purposes, shareholders made a
capital gain if the cost base for their shares was less than $9.20
per share and a capital loss if the reduced cost base for their
shares was greater than $9.20 per share.
Note 11: We understand that for
capital gains tax purposes, shareholders are taken to have received
$5.96 per share. If the capital proceeds of $5.96 were more than the
cost base of the share, the difference is a capital gain to the
shareholder. If $5.96 was less than the share’s reduced cost base,
the difference is a capital loss.
Note 12: For capital gains tax
purposes, shareholders are taken to have received $5.18 per share.
If the capital proceeds of $5.18 were more than the cost base of the
share, the difference was a capital gain to the shareholder in
2005–06. If $5.18 was less than the share’s reduced cost base, the
difference was a capital loss.
Note 13: For capital gains tax
purposes, shareholders are taken to have received $10.59 per share.
If the capital proceeds of $10.59 were more than the cost base of
the share, the difference was a capital gain to the shareholder in
2005–06. If $10.59 was less than the share’s reduced cost base, the
difference was a capital loss.
Note 14: For capital gains tax purposes,
shareholders are taken to have received $7.39 per share. If the
capital proceeds of $7.39 were more than the cost base of the share,
the difference was a capital gain to the shareholder in 2006–07. If
$7.39 was less than the share’s reduced cost base, the difference
was a capital loss.
Note 15: For capital gains tax purposes,
shareholders are taken to have received $0.68 per share. If the
capital proceeds of $0.68 were more than the cost base of the share,
the difference was a capital gain to the shareholder in 2005–06. If
$0.68 was less than the share’s reduced cost base, the difference
was a capital loss.
Note 16: For capital gains tax purposes,
shareholders are taken to have received $1.36 per share. If the
capital proceeds of $1.36 were more than the cost base of the share,
the difference was a capital gain to the shareholder in 2006–07. If
$1.36 was less than the share’s reduced cost base, the difference
was a capital loss.
Note 17: Investors received
$1.20 plus one Class A share for each two CMI shares bought back
from them, plus a rounding adjustment of an additional $1.20 cash
and one Class A share for the additional share where an odd number
of shares was bought back - the Tax Office has determined that, for
capital gains tax purposes, investors are deemed to have received
capital proceeds of $1.135 per share - (investors should note that
the Tax Office has determined that the first element of the cost
base and reduced cost base of each CMI Class A share that a
participating shareholder acquired under the arrangement, will be
equal to the market value as at 12 December 2006 of their CMI
ordinary shares bought back, reduced by the total cash consideration
received, divided by the number of CMI Class A shares allocated) -
for capital gains tax purposes investors made a capital gain in
2006-07 on each share for which they had a cost base of less than
$1.135 or a capital loss on each share for which they had a reduced
cost base greater than $1.135.
Note 18: For capital gains tax purposes,
shareholders are taken to have received $2.92 per share. If the
capital proceeds of $2.92 were more than the cost base of the share,
the difference was a capital gain to the shareholder in 2006–07. If
$2.92 was less than the share’s reduced cost base, the difference
was a capital loss.
Note 19: If the capital proceeds of
$2.27 per share were more than the cost base of the share, the
difference is a capital gain to the shareholder in 2007–08. If $2.27
was less than the share’s reduced cost base of each share, the
difference is a capital loss.
Note 20: For shares
held on capital account, the Sale Consideration of $3.91 represents
the capital proceeds for capital gains tax purposes. A shareholder
will make a capital gain on a share if the Sale Consideration per
share exceeds the cost base of that share. The capital gain is the
amount of the excess. Similarly, a shareholder will make a capital
loss if the Sale Consideration per share is less than the reduced
cost base of a share.
Note 21: For capital
gains tax purposes, shareholders are taken to have received $3.57
per share. If the capital proceeds of $3.57 were more than the cost
base of the share, the difference is a capital gain to the
shareholder in 2007-08. If $3.57 was less than the share’s reduced
cost base, the difference is a capital loss.
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