Sell AMP Shares

If you are an Australian tax resident and sold your AMP shares after 23 December 2003, here’s how you calculate the cost base of the AMP shares held as at 23 December 2003.

•     The original cost base was AU$10.43.
•     Post the AMP demerger (23 December 2003) the cost base was reduced to approximately A$7.39
•     Following the A$0.40 per share capital return in June 2005, the cost base was reduced to approximately A$6.99
•     Following the A$0.40 per share capital return June 2006, the cost base was, reduced to approximately A$6.59
•     Following the A$0.40 per share capital return June 2007, the cost base was reduced to approximately A$6.19.

If you purchased AMP shares prior to 23 December, 2003 through the pre-listing facility in June 1998, Share Purchase Plans, Dividend Reinvestment Plan, off market transfers or on market purchases the cost base is going to be different.

This is because the AMP demerger in December 2003 involved cancelling in total 29.1947766% of your AMP shares.  The Tax Office considers each purchase of shares as an individual parcel and it was left to the taxpayer to decide which parcel(s) of shares were cancelled to arrive at the 29.1947766% total.

Further information can be found at the ATO website using this link – AMP Demerger Tax Information (opens in new window).