Please note BGL does NOT provide any tax advice.
Sydney Airport (SYD.AX) was acquired by Sydney Aviation Alliance Pty Ltd on 09 March 2022.
Eligible Sydney Airport (SYD.AX) investors have also received non-cash distributions for FY 21-22. This data is now available through Distribution Tax Automation screen.
The distributions do not involve any cash payments, however, have adjusted components which may effectively affect the cost base. This article provides guidance on how to process the corporate actions and distributions.
For more information, please refer to the link below:
Example: The fund held 1,000 units of SYD.AX
Step 1: Process the Distribution using Distribution Tax Automation screen.
|From the Main Toolbar, go to Compliance.|
|Select Distribution Tax Automation from the list.|
a) Select the icon for the SYD security to generate system tax data.
b) Review the pre-filled system data and select ‘Generate and Mark as Reviewed’.
Step 2: Process the merger through the Corporate Actions screen.
|From the Main Toolbar, go to Investments.|
|Select Corporate Actions from the list.|
a) Select the merger to process.
Note: IF the merger was processed FIRST before the distributions, please reverse the merger corporate action as the cost base may be incorrect.
Please follow the steps below to reverse the merger corporate action.
- Navigate to Accounting | Transaction List.
- Locate and select the merger corporate action transactions.
- Click on ‘Delete’ to delete the selected transactions.
- Once the transactions have been deleted, reprocess the entire corporate action from the Corporate Actions screen, following the steps listed above.