Hi there. I am wondering how do we input the recent Webjet demerger in Sharesight where a new share WJL was created
Im after the same Answer lol
Me too.
Hi there,
ATO class ruling is not available for this demerger yet. Hence, you can track your WJL shares by adding an Opening balance trade (1 share of Webjet Group Limited for every 1 Webjet Limited share held) at cost base =$0 for now.
Once the cost base allocation ratio is available:
- Go to your Webjet holding page (WEB.ASX) in Sharesight.
- Click on “Enter a new trade or adjustment” from trades and income tab.
- Select “Adjust cost base” as the trade type. Use the Demerger Calculator to enter the appropriate ratio (trade date: 30 Sep 2024).
- Take note of the Cost Base Reduction amount.
- Update the cost base amount on the opening balance trade of WJL.ASX ( =cost base reduction amount on WEB.ASX)
- Save the trade.
Hello fellow investors, my query relates to the recent corporate action/demerger of Webjet ASX: WEB on 24 September 2024. Essentially, they spun the Webbeds business off and separated it into a seperate holding via a demerger and second listed company ASX: WJL. My question is, how do i reflect this in my Sharesight portfolio? I had 400 shares in WEB which I still hold, and additionally I was issued with 400 shares in WJL. Any advise on how to reflect this in Sharesight is greatly appreciated.
@Troy can you refer to Roshan’s reply. Thanks
Hi @RickyYeo, the class ruling on the Webjet demerger was now published on the ATO website 30/10/2024. Can you please assist us in this community who held the stock through the demerger to decipher exactly how we are meant to reflect the two stocks and adjust any cost basis for tax purposes in Sharesight. It looks like for any of us Australian residents holding WEB through the demerger we need to follow instructions on pages 2 - 3 (points 7 - 19) in the attached hyperlink, but as I am not a lawyer or accountant it isn’t that straight forward for me. Thanks for your assistance with this query.
https://www.ato.gov.au/law/view/document?docid=CLR/CR202469/NAT/ATO/00001
Thanks @Troy for the update!
Okay so on page 3:
We accept that a reasonable apportionment is to attribute:
• 88.64% of the total of the cost bases of your WEB Travel shares just before
the demerger to the WEB Travel shares, and
• 11.36% of the total of the cost bases of your WEB Travel shares just before
the demerger to the corresponding Webjet B2C shares.
What you do is:
- Go to WEB.ASX
- Under Trades and Income tab, click Add trade or adjustment
- Select trade type: Adjust cost base
- In the Demerger Calculator, enter 88.64 : 11.36 (This holding : The new holding)
- Save trade
- Take note the Adjust cost base amount
- Add that amount to the Total cost base of WJL’s opening balance trade (if you’ve already added WJL)
- Otherwise, go Add Investment > Search WJL > Trade type: Opening balance