This document contains information about the 2012 Woolworths Limited (Woolworths) restructure and creation of a new stapled security. Create your myGov account and link it to the ATO, Help and support to lodge your tax return, Occupation and industry specific income and work-related expenses, Residential rental properties and holiday homes, Instalment notices for GST and PAYG instalments, Your obligations to workers and independent contractors, Encouraging NFP participation in the tax system, Australian Charities and Not-for-profits Commission, Departing Australia Superannuation Payment, Small Business Superannuation Clearing House, Annual report and other reporting to Parliament, Complying with procurement policy and legislation. There's an ASX announcement posted yesterday about this. What are the taxation implications? If you owned Woolworths shares on 30November 2012 but sold them before 11December 2012, you must include the following amounts in your 201213 tax return: Work out your capital gain or capital loss on the sale of your Woolworths shares by comparing the cost base of your shares and the sale proceeds. The Act provides that the cost of goodwill as reduced by the depreciation that would have been allowable would need to be reduced in computing the Written Down Value of the block of assets on which depreciation can be made admissible.Therefore, goodwill which forms part of block of assets as on April 1, 2020 would not be eligible for depreciation from AY 2021-22 and onwards. 14.19% of the total cost bases of your Woolworths Group shares just before the demerger to your corresponding Endeavour Group shares. It was shocking, Cereal is really the unsung hero of breakfast. one unit in Shopping Centres Australasia Property Retail Trust (SCA Property Retail Trust). Not applicable for transferor company or transferee company opting for concessional tax regime under Section 115BAA and Section 115BAB of the Act. Demerger needs to be in accordance with conditions as notified under Section 72A(5) of the Act by the Central Government. one unit in Shopping Centres Australasia Property Management Trust (SCA Property Management Trust), and. GAAR provisions come into effect if the revenue authorities are able toestablish that the main purpose of the arrangement is to obtain a tax benefit. Woolworths announced an update on significant items that would affect its FY21 accounts. They are paying this out of profit which has already suffered company tax which is 30% of the profit. Deducting the dividend amount from the capital gain prevents this. A capital gains tax event happened when your stapled securities were sold. 2 - Click 'Enter a new Trade or Adjustment'. Woolworths Group today announced more details in relation to the demerger of Endeavour Drinks Group, revealing that investors could receive a potential $2 billion windfall when the company is demerged. Demerger and Income Tax Act, 1961 . Demerger means the transfer of one or more undertakings to any resulting company by a demerged company in pursuant to a scheme of arrangement that fulfils the following conditions: All the property and liability of the undertaking "immediately before demerger" becomes the property and liability of the resulting . D. Insertion of Rule 8AC for computation of STCG and WDV. Because Stacey owned Woolworths shares on 30November 2012 she had a right to receive SCA Property Group stapled securities under the distribution. Given the amendment vide FA 2021, depreciation on goodwill will not be allowed as a deduction henceforth. But what about your birth control?