360 Capital Total Return Fund
Net asset backing of entities in the 360 Capital Total Return Fund
Australian Capital Gains Tax
A 360 Capital Total Return Fund stapled security comprises two separate assets for capital gains tax purposes; a 360 Capital Total Return Passive Fund unit and a 360 Capital Total Return Active Fund unit1.
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 tangible assets of the individual entities. For your information these percentages are set out below:
|Net Tangible Assets per Security||30 June 2016||30 June 2015||4 May 20152|
|360 Capital Total Return Passive Fund||85.3%||84.3%||84.8%|
|360 Capital Total Return Active Fund||14.7%||15.7%||15.2%|
1 The stapling of the two separate entities occurred on 21 April 2015, creating the 360 Capital Total Return Fund. Prior to the stapling 360 Capital Passive Fund acquired all CVC Property Fund (CJT) units on issue with a scrip for scrip offer which occurred as part of a restructure of existing listed fund the CVC Property Fund.
2 The NTA apportionment is provided as at 4 May 2015 and is based on the interim accounts prepared for the respective entities.