Babcock & Brown Online Alinta Share Scheme Participant Tax Calculator
The information in the B&B Online Alinta Share Scheme Participant Tax Calculator is relevant to Australian tax resident Securityholders who originally held shares in Alinta Limited (Alinta) prior to the takeover of Alinta, and disposed of their Alinta Shares through participation in the ‘Share Scheme’ (as defined in the Alinta Scheme Booklet).
If you were a former AGL shareholder, the B&B Online Alinta Share Scheme Participant Tax Calculator will require you to have details of the number of Alinta securities you held and the cost base that you inherited. Please refer to the Alinta Share Scheme Participant Taxation Guide for further information regarding the capital gains tax implications on disposal of your Alinta Shares through participation in the Share Scheme.
Background
On 15 August 2007, Alinta shareholders and optionholders approved the Schemes of Arrangement in relation to the acquisition of Alinta by a Consortium consisting of Babcock & Brown Infrastructure (“BBI”), Babcock & Brown Power (“BBP”), Babcock & Brown Wind (“BBW”) and Singapore Power International Pte Ltd. The Federal Court of Australia approved the schemes on 17 August 2007.
In August 2007, the Schemes of Arrangement were implemented and Share Scheme Participants (or the Nominee, in the case of Ineligible Overseas Shareholders and others whose shares were sold in the Cash Out Facility) were registered as the holders of the B&B Fund Securities, BBI EPS and APA Group Securities to which they were entitled under the Share Scheme.
Under the Share Scheme, Alinta Shareholders could choose to receive a number of different types of consideration for the disposal of their Alinta Shares, including:
- Default Consideration
- Maximum Preference Shares
- Maximum Cash
- Maximum Cash & Sell Unmarketable Securities
- Maximum Securities
- Cash Out
B&B Online Alinta Share Scheme Participant Tax Calculator
The B&B Online Alinta Share Scheme Participant Tax Calculator will allow former-Alinta shareholders to work out the capital gain/loss tax implications with regard to the Share Scheme. Former-Alinta shareholders will need to provide certain details in relation to each parcel of Alinta shares that they hold. If you have acquired Alinta shares through participating in dividend reinvestment plans or rights issues, you will have acquired different “parcels” of Alinta shares. Even though you have only one Holder Identification Number (HIN) or Securityholder Reference Number (SRN) you may have more than one parcel of Alinta shares.
For each parcel of Alinta shares, former-Alinta shareholders need to provide the following details:
- Number of shares held in Alinta
- Date on which the shares were acquired
- Purchase price of Alinta shares
- Scheme Consideration alternative elected
- Whether you elected to receive Rollover Relief
- Additional cost base items (if applicable)
In addition, you have the option of entering the consideration you received from the Share Scheme, as shown on your Alinta Share Scheme Participant Tax Statement.
Disclaimer
Please note that the B&B Online Alinta Share Scheme Participant Tax Calculator is provided for your guidance only. B&B does not provide tax advice. You should seek professional tax advice if you have any questions relating to the tax consequences of you participating in the Share Scheme. Please refer to Section 14 of the Alinta Scheme Booklet or the Alinta Share Scheme Participant Taxation Guide for more details regarding the calculation of the tax consequences of participating in the Share Scheme.