The Supreme Court of Victoria approved the scheme of arrangement to demerge Treasury Wine Estates from Foster’s Group Limited on 4 May 2011 and Treasury Wine Estates commenced trading on the Australian Securities Exchange on 10 May 2011.
Australian Resident Capital Gains Cost Base
As indicated in Section 9 of the Demerger Booklet, where demerger tax relief is available, the cost base of the Foster’s Shares held by Australian resident Foster’s Shareholders will be allocated between their Foster’s Shares and their Treasury Wine Estates Shares. The allocation will be based on the market values (or a reasonable approximation thereof) of the Foster’s Shares and the Treasury Wines Estates Shares just after the Demerger.
The Australian Taxation Office (ATO) has issued a class ruling in relation to the demerger, a copy of which is available below. The ATO is expected to issue a fact sheet confirming the tax consequences of the demerger for Australian resident shareholders, and TWE will include a copy of the fact sheet on its website after publication by the ATO.
Foster’s has notified Australian resident shareholders in writing of the tax consequences, a copy of which is available to view or download below. Foster’s has also provided a tax cost base calculator on its website to assist shareholders with the apportionment of their cost base between Foster’s shares and Treasury Wine Estates shares.
Foster’s Group demerger related ASX Announcements
- Demerger of Treasury Wine Estates Limited Cost Base Implications for Australian Resident Shareholders (PDF, 105 KB)
- Foster’s Demerger Of Treasury Wine Estates Approved By The Supreme Court Of Victoria (4 May 2011, PDF, 45 KB)
- 2011 Scheme and General Meetings – Chairman’s Address (29 April 2011, PDF, 53 KB)
- Fosters Demerger of Treasury Wine Estates Approved by Shareholders (29 April 2011, PDF, 86 KB)
- Update on Treasury Wine Estates Board Appointments (21 April 2011, PDF, 45 KB)
- Demerger of Treasury Wine Estates – Dispatch of Demerger Documents (29 March 2011, PDF, 8.5 MB)
- Demerger of Treasury Wine Estates Scheme Booklet (17 March 2011, PDF, 9.3 MB)
- Fosters Demerger of Treasury Wine Estates (17 March 2011, PDF, 53 KB)
- Demerger of Treasury Wine Estates Presentation (15 February 2011, PDF, 2.1 MB)
- Treasury Wine Estates Investor Presentation (15 February 2011, PDF, 2.1 MB)
- Fosters To Demerge Treasury Wine Estates(15 February 2011, PDF, 123 KB)
- Demerger Update – Key Appointments (22 December 2010, PDF, 49 KB)
- Foster’s Financial Update and Proposal to Pursue Demerger (26 May 2010, PDF, 37 KB)
- Financial Services Guide and Independent Experts Report (PDF, 774 KB)
- Letter to Foster’s Group American Depositary Shareholders (PDF, 389 KB)
- Australian Taxation Office – Class Ruling (PDF, 97 KB)