|
|
|
Regular Member
 
Group: Forum Members
Last Login: Yesterday @ 10:04:31 PM
Posts: 17,
Visits: 46
|
|
| Hi My super fund purchased T3 Instalment warrants at the public offering. I have now just paid the final instalment and there is to be a bonus share issue as well. The T3share offer website contains specific details: http://www.t3shareoffer.com.au/PayNow/KeyDates.aspx I would appreciate some assistance on how to process both the final instalment (and hence change of code) as well as the bonus shares to be allocated in MySF. The ATO released advice for individual investors when the instalments were offered (2006-2007) http://www.ato.gov.au/individuals/content.asp?doc=/Content/00107114.htm. There may be further advice in the near future. I am sure that I am not alone in having to work through these issues, and would appreciate your feedback when available. Regards Y Wilson
|
|
|
|
|
MySF Administrator
Group: Administrators
Last Login: Yesterday @ 8:08:32 PM
Posts: 293,
Visits: 390
|
|
Hi,
The events should be recorded as follows:
*Instalment payment*
Instalment payments increase the cost base of the asset and should be entered as a capital return with a negative amount. In this instance the final instalment payment is $1.60, so you should go to Housekeeping > Utilities > Capital Repayment and record a capital repayment for -$1.60 per unit.
*Change code / name*
The best way to do this is to record a 1 for 1 Scrip for Scrip rollover from the old code and name to the new code and name through Housekeeping > Utilities > Scrip for scrip rollover screen.
*Record bonus share issue*
You should use the Housekeeping > Utilities > Bonus Share Allocation screen.
In each case the software will perform all of the required processing in the background, including adjusting the cost base of the asset, creating transactions etc.
The events should be processed in the order that they happen, which may not be the same as described above. If you do get the order wrong you will still get the right results in terms of quantities and costs, but you may need to answer a few additional questions from your auditor.
Regards,
MySF
|
|
|
|
|
Advanced Member
Group: Forum Members
Last Login: Today @ 1:27:58 AM
Posts: 46,
Visits: 320
|
|
Just a query on this - in particular the order:
If you have both original Telstra shares AND the T3 instalments and follow this order then you will be doing the Bonus Share Allocation after you have rolled the instalments into Telstra shares - so won't the Bonus Share Allocation try and apply the bonus share calcs to the whole Telstra parcel rather than just the newly rolled over T3s.
Shouldn't the Bonus Share Allocation calculations just apply to the T3 parcel and, if so wouldn't you do the Bonus Share Allocation after the instalment capital repayment but before the 1 for 1 Scrip for Scrip rollover, ie:
1) Apply capital repayment to TLSCA
2) Bonus Share Allocation for TLSCA
3) 1 for 1 Scrip for Scrip rollover from TLSCA to TLS
Neil H.
|
|
|
|
|
MySF Administrator
Group: Administrators
Last Login: 2 days ago @ 5:53:34 PM
Posts: 90,
Visits: 363
|
|
Hello,
We will look into the T3 transaction and post some advice on it over the coming month. We need to ensure that all the information is available from both the ATO and Telstra.
Regards,
MySF
|
|
|
|
|
Advanced Member
Group: Forum Members
Last Login: Today @ 1:27:58 AM
Posts: 46,
Visits: 320
|
|
Hi,
Any progress on this?
Neil H.
|
|
|
|
|
MySF Administrator
Group: Administrators
Last Login: Yesterday @ 8:08:32 PM
Posts: 293,
Visits: 390
|
|
Hi,
The revised process posted by PP Super above will isolate the effects to TLSCA and is therefore correct.
Please perform the steps above in the following order:
1) Apply a negative capital repayment to TLSCA
2) Bonus share allocation for TLSCA
3) 1 for 1 scrip for scrip rollover from TLSCA to TLS
Regards,
MySF
|
|
|
|