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In-specie distributions Expand / Collapse
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Posted 8/01/2013 1:37:24 AM
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I received the SCP securities resulting from WOW in specie 1 for 5 distribuion.

How do I record these, as they have no cash transaction.

Do I reduce the cost base of the WOW shares by the equivalent amount of the distribution?

Post #4872
Posted 8/01/2013 3:24:08 AM
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blue-sky (8/01/2013)
I received the SCP securities resulting from WOW in specie 1 for 5 distribuion.

How do I record these, as they have no cash transaction.

Do I reduce the cost base of the WOW shares by the equivalent amount of the distribution?

I too received the in-specie 1-for-5 distribution.

If you look at the distribution advice, you'll see that there are two components, a capital return & a fully franked dividend.

What I did is process under "Asset Utilities" a capital return which will automatically reduce the cost basis for the WOW shares. The amount received was posted to a clearing account.

For the dividend component I used the "dividend" option under "receive cash" and again posted the amount received to the clearing account.

To Take up the new SCP shares I used "buy shares" under the "assets" and used clearing account for the purchase.

It seemed to do the trick.

Post #4874
Posted 19/01/2013 4:43:29 PM
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Sensational. Thanks.
Post #4876
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