Westfield/Scentre Split

Hi Scott,

Is there an automated transaction for this conversion ?
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  • Hi Craig,

    Unfortunately there is not an automated transaction for this as Sharesight cannot automatically handle events that result in the creation of new holdings in your portfolio.

    Our understanding is that WDC Shareholders have received new shares in Westfield Corporation (WFD) and Scentre Group (SCG) and that WDC will no longer exist. Note that WFD is a new entity rather than a name change from WDC.

    To handle this you should record a new holding of both WFD and SCG using an opening balance transaction. To remove WDC from your portfolio you can record a sell trade at a value that matches the cost base (so that no CGT is calculated). This is preferable to deleting the holding as it allows you to retain the historical data against WDC.
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  • FYI. I understand that the cost base information will be sent to security holders on 29th August.
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  • This reply was created from a merged topic originally titled Converting WRT to SCG.

    My imported holdings list WRT but not SCG. How do I convert the Shares to SCG along with the Capital reduction
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  • Hi Scott,

    Just in the process of entering the WDC to SCG/WFD transaction - is there any difference between recording an opening balance for SCG and WFD rather than a new buy?

    While I think either should produce the same result from a tax perspective, is there any impact on the return calculations? Is both a 'buy' and an 'opening balance' treated as a capital inflow, or just buys? If its only buys I'm assuming it would be more accurate to record it this way to recognise the capital inflow and offset the capital outflow (ie sale) of WDC securities?

    Hope this helps makes...thanks
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