If the Spreadsheet is locked, click the ENABLE EDITING link at the top to begin editing. Save the spreadsheet and open it in Excel or a compatible spreadsheet application. The link opens a page displaying instructions for using the calculator.Ĭlick the green Westfield Group 2018 calculator button to start the download.
You should download the ATO calculator now.Ĭlick the link under the title Demerger – WFD/OMN/URW. Mclowd utilises the information this calculator supplies to facilitate correct recording of the transaction for affected users. This demerger was a complex transaction and calculation of the applicable taxes has been facilitated by the Australian Taxation Office supplying a special calculator in the form of an Excel spreadsheet. (You should have received a lump sum payment. A record of the payment you received from Westfield Corporation in early June.Copies of the advices you received from Westfield Corporation, One Market and Unibail-Rodamco-Westfield noting the number of Westfield units surrendered and the number of shares in One Market and URW issued to you.
Mclowd displays the Dermerger – WFD/OMN/URW screen, listing a series of five steps and noting, at Step 2, your current Asset Shares Data.Ĭheck that the holding details are correct Assemble all the information you will need Mclowd displays a list of supported demergers. Click the CORPORATE ACTIONS button.įrom the Corporate Actions menu, select the DEMERGERS button. Log in to Mclowd and select the ASSETS Tab. This guide is intended to assist Mclowd users to correctly record the details of this demerger and ensure that Mclowd correctly updates income, resulting tax obligations, and new asset holdings resulting from this Corporate Action. Mclowd users affected by this demerger should seek advice on the tax implications and on whether or not it is appropriate for Trustees to claim CGT Rollover.
The ATO has published information for affected securities holders. On 8 June 2018, Westfield Corporation delisted from the ASX. Demergers of this kind have capital gains tax consequences. On June 7, 2018, Westfield transferred all its shares in One Market to its to holders of stapled securities in the Westfield Group.Īlso on that date, the Westfield Group exchanged all stapled ecurities for stapled securities (CDIs in Unibail-Rodamco, in addition to making a cash settlement to shareholders based on their shareholding.