When AMP demergered i received 500 shares. If i sold them now will i have to pay CGT on the total value or is there a cost base to factor in?.
Hi BlueGum, There is a cost base in AMP shares. Speak to ComputerShare on 02 8234 5000 and ask for the AMP share register. Cheers, Dan
As I remember it, AMP shares from the demutualisation were deemed to have been acquired at $10.43 in November 1997. Since then there have been capital returns ($0.40 in each year 2005-2007) - these capital returns will reduce the cost base by $1.20, to $9.23. Since the shares are trading just above $10, you are in the sweet spot of only having to pay CGT on about 10% of the value, and you'll get a CGT 50% discount (I haven't done the indexing calculations, but I expect the 50% discount will yield the best outcome). Please don't accept what I have outlined here as true! There may have been other capital gains events in the last 10 years. But you can probably get info on the demutualisation from the ATO website.
