Net Tangible Assets

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A GPT Group stapled security comprises two separate assets for capital gains tax purposes, being a unit in General Property Trust (GPT) and a share in GPT Management Holdings Limited (GPTMH). 

For capital gains tax purposes you need to apportion the cost of each stapled security and the proceeds of sale of each stapled security over the separate assets that make up the stapled security. This apportionment should be done on a reasonable basis. 

One possible method of apportionment is on the basis of the relative net assets of the individual entities. 

 

 

Net Tangible Asset Backing

(per security)

General Property Trust

(per unit)

GPT Management Holdings Ltd.

(per share)

30 June 2005 $3.03 $2.88 (95.05%) $0.15 (4.95%)
31 December 2005 $3.16 $3.02 (95.57%) $0.14 (4.43%)
30 June 2006* $3.47 $3.33 (95.97%) $0.14 (4.03%)
31 December 2006* $3.60 $3.48 (96.67%) $0.12 (3.33%)
30 June 2007* $3.81 $3.66 (96.06%) $0.15 (3.94%)
31 December 2007* $3.86 $3.77 (97.70%) $0.09 (2.30%)
30 June 2008* $3.68 $3.68 $0.00
31 December 2008** $1.43 $1.43 $0.00
30 June 2009*** $0.71 $0.71 $0.00
31 December 2009*** $0.69 $0.69 $0.00
30 June 2010 $3.45 $3.45 $0.00
31 December 2010 $3.60 $3.60 $0.00
30 June 2011 $3.64 $3.59 $0.05
31 December 2011 $3.59 $3.56 $0.03
30 June 2012 $3.65 $3.62 $0.03
31 December 2012 $3.73 $3.70 $0.03
30 June 2013 $3.76 $3.73 $0.03
31 December 2013 $3.79 $3.76 $0.03
30 June 2014 $3.82 $3.78 $0.04
31 December 2014 $3.94 $3.89 $0.05
30 June 2015 $4.03 $3.97 $0.06
31 December 2015 $4.17 $4.10 $0.07
30 June 2016 $4.38 $4.31 $0.07
31 December 2016 $4.59 $4.51 $0.08
30 June 2017 $4.88 $4.81 $0.07

*     Excludes provision for June/December quarter distributions. 
**   Includes the impact of an additional 2,368 million securities issued in 2008 and 260 million potential securities assuming the conversion of the exchangeable securities at an exchange price of $0.9628. 
***  Includes the impact of an additional 4,810 million securities issued in 2009 and 321.9 million potential securities assuming the conversion of the exchangeable securities at an exchange price of $0.7766. 

If you received an In-Specie Dividend comprising of shares in BGP Holdings Limited in 2009, the cost base of your shares in GPT Management Holdings Limited held at that time, may have been impacted by the In-Specie Dividend. Please click here to view the information sheet "In Specie Dividend Capital Gains Tax Cost Base Implications".