an indirect Australian real property interest not covered by item 5; a CGT asset used at any time in carrying on a business through a permanent establishment in Australia and which is not covered by item 1, 2 or 5; an option or right to acquire a CGT asset covered by item 1, 2 or 3, and. The return of capital was announced on 27 August 2021 and was approved by shareholders at the Wesfarmers Annual General Meeting on 21 October 2021. 61. 5. 25. * If you choose to index the cost base of shares you acquired before 21September 1999, you cannot apply the CGT discount when you dispose of them. There were no CGT events affecting the cost base of his shares before the return of capital in December 2003. 7. The Commissioner makes this Ruling based on the precise scheme identified in this Ruling. For your other shares - reduce the cost base and reduced cost base by $2.50 each. 65. 75. Wesfarmers share capital has increased from $2.2 billion in July 2007, to $23 billion in June 2012. The return of capital was considered and approved by shareholders at the 2021 AGM. A maximum of approximately 9.57% of Wesfarmers shares are pre-CGT assets. 73. In determining whether to recommend to shareholders the approval of the return of capital, the Board reviewed Wesfarmers' assets, liabilities and expected cash flows. 61. The term 'taxable Australian property' is defined in the table in section 855-15 of the ITAA 1997. Part 5 - Further information 5.1 Has the +entity applied for an ATO class ruling relating to this cash return of . Accordingly, CGT event G1 will happen when Wesfarmers pays the return of capital to a Wesfarmers shareholder in respect of a Wesfarmers share that they own at the Record Date and continue to own at the Payment Date. 24. For more information on how to work out the cost base and the reduced cost base of shares, see the Guide to capital gains tax. The following description of the scheme is based on information provided by the applicant. If the amount of the return of capital of $2.00 per Wesfarmers share is not more than the cost base of your Wesfarmers share, the Cost base / reduced cost base of the share are reduced (but not below nil) by the amount of the return of capital (subsection 104-135(4)). This publication provides you with the following level of protection: This publication (excluding appendixes) is a public ruling for the purposes of the . The purpose which causes section 45B to apply may be the purpose of any party to the scheme. Make sure you have the information for the right year before making decisions based on that information. Mark has not made a capital gain on his shares as a result of the capital return so he does not have to put anything on his 2003-04 tax return to reflect this event. For participants in the Australian tax exempt share plans or the loan plans the cost base for each share held on behalf of employees should be reduced by the return of capital amount. ITAA 1936 45B(3) The distribution comprised a return of capital of 75 cents per share and a fully-franked dividend of 25 cents per share. 3. Under subsection 855-10(1) of the ITAA 1997, an entity disregards a capital gain or capital loss from a CGT event if they are a foreign resident, or the trustee of a foreign trust for CGT purposes, just before the CGT event happens, and the CGT event happens in relation to a CGT asset that is not 'taxable Australian property'. To calculate your payment, multiply the number of shares held on the record date by $2.00 per share. 25. The right to receive the payment of the return of capital is one of the rights inherent in a Wesfarmers share at the Record Date. 16. The record date for the return of capital was 4:00pm (Perth time) on Friday, 19 November 2021. For information on how to work out the cost base (and reduced cost base) for shares, see the Guide to capital gains tax. 44. During the years ended 30 June 2018 to 30 June 2020, Wesfarmers disposed of a number of assets and received sale proceeds totalling $4.3 billion. Class Ruling CR 2014/76 Page status: legally binding Page 1 of 29 Class Ruling . 14 December 2018 Demerger of Coles Group Limited - ATO Class Ruling The Australian Commissioner of Taxation has today issued Class Ruling CR 2018/59 (Class Ruling) covering the Australian income tax implications of the demerger of Coles Group Limited (Coles) for shareholders of Wesfarmers Limited (Wesfarmers).The Class Ruling confirms the availability of demerger tax relief for certain . 57. 72. Accordingly, the Commissioner will not make a determination under subsection 45A(2) of the ITAA 1936 that section 45C of the ITAA 1936 applies in relation to the whole, or a part, of the return of capital. ITAA 1997 Div 110 80. This method was seen as the most equitable way of returning a portion of surplus capital in cash to all shareholders. 59. ITAA 1936 45B 35. 82. The record date for the capital return payment was 4:00pm(Perth time) on Friday, 19 November 2021. The Commissioner will not make a determination under either If, after the Record Date but before the Payment Date, a Wesfarmers shareholder ceases to own some, or all, of their shares in Wesfarmers, the right to receive the payment of the return of capital in respect of each of the shares disposed of will be retained by the shareholder and is considered to be a separate CGT asset. ITAA 1997 104-25 This publication (excluding appendixes) is a public ruling for the purposes of the Taxation Administration Act 1953. Wesfarmers shareholders received a 200 cents per share cash distribution. If you have a New Zealand bank account, the exchange rate that was used to convert the Australian dollar payment into New Zealand dollars was set on the record date. The return of capital demonstrated Wesfarmers' commitment to efficient capital management and its focus on providing a satisfactory return to all shareholders. At 30 June 2007, Wesfarmers' share capital was $2,256 million, with retained earnings of $1,131 million (effectively $588 million after the final 2007 dividend of $543 million). The payment of the return of capital to Wesfarmers shareholders will not be a dividend, as defined in subsection 6(1). On 27 August 2021, Wesfarmers announced that it will return share capital to Wesfarmers shareholders of $2.00 per Wesfarmers share totalling $2.3 billion (return of capital). 64. As discussed in paragraph 52 of this Ruling, the payment of the return of capital to Wesfarmers shareholders will be a capital benefit. By contrast, a dividend would generally be included in the assessable income of a resident shareholder or in the case of a foreign resident, be subject to dividend withholding tax under section 128B. ITAA 1936 45A shares held within the Deferred Plans at the time of the return of capital payment), the cost base for each share held on behalf of employees was reduced by the return of capital amount. ITAA 1936 45B(8) 15. 47. 20. How do I provide, update or check my bank account details? The Class The Commissioner will not make a determination under either subsection 45A(2) of the ITAA 1936 or paragraph 45B(3)(b) of the ITAA 1936 that section 45C of the ITAA 1936 applies to any part of the return of capital of $2.00 per Wesfarmers share you received on the Payment Date. Non-resident shareholders should seek specific advice in relation to the tax consequences arising from the return of capital under the laws of their country of residence. Note: 9. ITAA 1997 855-20 This payment was: capital gains tax The ATO Class Ruling confirms that there will be no immediate tax liability relating to the return of capital for most Wesfarmers . As announced on Friday, 27 August 2021, the Wesfarmers Board recommended a return of capital to Wesfarmers shareholders of 200 cents per share. 11. The ATO has issued Class Ruling CR 2018/59 . ITAA 1997 115-25(1) The capital return was completed on 18December 2003. Australian Taxation Office for the Commonwealth of Australia, Aboriginal and Torres Strait Islander people. Did I have the choice to participate in the capital return? ITAA 1997 Div 197 33. The capital gain will be a discounted capital gain for shares allocated at least 12 months before the payment date of Thursday, 2 December 2021. A copy of the Class Ruling is available from the Wesfarmers website (www.wesfarmers.com.au). CGT event G1 happened when Wesfarmers made the return of capital to you in respect of Wesfarmers shares you owned at the Record Date and continued to own at the Payment Date (section 104-135). The capital return on your shares is a capital gain tax event that may have resulted in a capital gain for you. Our diverse business operations cover: home improvement and outdoor living; apparel and general merchandise; office supplies;health, beauty and wellbeing; and an Industrials division with businesses in chemicals, energy and fertilisers, and industrial and safety products. Wesfarmers shareholders received a $1.00 per share cash distribution. Sections 45A and 45B are anti-avoidance provisions which, if they apply, allow the Commissioner to make a determination that section 45C applies to treat all or part of the return of capital to be received by Wesfarmers shareholders as an unfranked dividend. The Australian Taxation Office (ATO) has published a Class Ruling in relation to the taxation treatment of the $2.00 per share return of capital to Wesfarmers shareholders, which was paid on 2 December 2021. 49. Also: No capital gain or capital loss should arise in respect to a share acquired on or before 19September 1985. 21. At 30 June 2007, Wesfarmers' share capital was $2,256 million, with retained earnings of $1,131 million (effectively $588 million after the final 2007 dividend of $543 million). The phrase 'provided with a capital benefit' is defined in subsection 45B(5). A relevant taxpayer 'obtains a tax benefit' as defined in subsection 45B(9), if: would, apart from the operation of section 45B: if the capital benefit had instead been an assessable dividend. Division 230 does not apply to individuals unless they have made an election for it to apply. The return of capital was debited to Wesfarmers' share capital account and the following accounting entry was recorded: 27. Wesfarmers has confirmed that its share capital account is not tainted within the meaning of Division 197. As a result of the return of capital, you must adjust the cost base of your Wesfarmers shares. Australian Taxation Office for the Commonwealth of Australia, Aboriginal and Torres Strait Islander people, An indirect Australian real property interest not covered by item 5, A CGT asset used at any time in carrying on a business through a permanent establishment in Australia and which is not covered by items 1, 2, or 5, An option or right to acquire a CGT asset covered by items 1, 2 or 3. Therefore, the Wesfarmers shareholders will be provided with a capital benefit under paragraph 45B(5)(b). Wesfarmers will reduce its share capital by returning $0.50 per fully paid share (being ordinary shares and partially protected ordinary shares). Accordingly, section 45A has no application to the return of capital. The capital loss is equal to the amount of the difference (subsection 104-25(3) of the ITAA 1997). Return of Capital Wesfarmers proposes to make a cash payment to shareholders of A$0.50 per ordinary share and partially protected share as a return of capital. The test of purpose is an objective one. 36. ITAA 1936 45B(3) 68. A Wesfarmers shareholder will make a capital gain if the capital proceeds from the ending of the right are more than its cost base. Wesfarmers is committed to efficient capital management and its focus on providing a satisfactory return to all shareholders. ITAA 1997 115-25(1) NO 1-PVCWOSF, Legislative References: The ATO Class Ruling confirms that there will be no immediate tax liability relating to the return of capital for most Wesfarmers . sold their shares while the shares were trading on a cum return of capital basis (i.e., before Wednesday, 17 November 2021); or. Maria's indexed cost base is $3,555.80 ($2,300 x 1.546). 3.7 Cash return of capital amount per +security AUD 2.00000000 Part 4 - Changes to option pricing as a result of the cash return of capital 4.1 Will the cash return of capital affect the exercise price of any +entity-issued options? 18. You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products). The return of capital will be debited against an amount standing to the credit of Wesfarmers' share capital account. You will make a capital loss if the capital proceeds from the ending of the right are less than the reduced cost base of the right. : Yes. 60. If the return of capital ($0.50 per fully paid share) is not more than the cost base of the Wesfarmers share at the Payment Date, the cost base and reduced cost base of the share will be reduced (but not below nil) by the amount of the return of capital (subsection 104-135(4) of the ITAA 1997). The return of capital will be debited to Wesfarmers share capital account. 'Share capital account' is defined in section 975-300 of the ITAA 1997 as an account which the company keeps of its share capital, or any other account created after 1 July 1998 where the first amount credited to the account was an amount of share capital. Using this method, Maria has made no capital gain on the return of capital, so she does not have to put anything on her 2003-04 tax return to reflect this event. (iii) Employee shareholders who hold their shares within a Wesfarmers employee share plan. ITAA 1936 45B(2)(a) Following the payment of the special dividends, Wesfarmers determined that $2.3 billion of the remaining balance of the proceeds from the asset disposals of approximately $2.925 billion was surplus to its capital requirements. The Class Ruling and further details regarding the return of capital can be accessed via the Investor Centre section of the Wesfarmers website at www.wesfarmers.com.au. ITAA 1997 Div 230 On 3 November 2003 Wesfarmers Limited announced a return of capital ('capital return'). The Class Ruling does not apply to Wesfarmers shareholders who hold their shares on revenue account or as trading stock. The Ruling continues to apply after 30 June 2014 to all entities within the specified class who entered into the specified scheme during the term of the Ruling. 48. The effect of such a determination is that all or part of the return of capital received by Wesfarmers shareholders is treated as an unfranked dividend paid by Wesfarmers out of profits. For the purposes of paragraph 45B(2)(c), the Commissioner is required to consider the 'relevant circumstances' set out in subsection 45B(8) to determine whether any part of the scheme would be entered into for a purpose, other than an incidental purpose, of enabling a relevant taxpayer to obtain a tax benefit. ITAA 1997 Div 115 TAA 1953 The requisite purpose does not have to be the most influential or prevailing purpose but it must be more than an incidental purpose. purchased their shares after the shares started trading on an ex return of capital basis (i.e., from Thursday, 18 November 2021 onwards), the cost base for each share acquired after 19 September 1985 should be reduced by the return of capital amount (on a cents per share basis) for the purpose of calculating any capital gain or capital loss on the ultimate disposal of that share; and. Mark received a total of $500 (200 x $2.50) in the return of capital. Shareholders who did not provide the share registry with their bank account details, may complete a paper Direct Credit Payment Form, which is available from Wesfarmers share registry, Computershare Investor Services Pty Limited, or provide their details online to Computershare at www.computershare.com.au/easyupdate/wes. ITAA 1936 45A(2) if the cost base (after any adjustment, as may be relevant, for any indexation, any previous return of capital or as a result of the Coles demerger) of a share acquired after 19 September 1985 is less than the return of capital amount (on a cents per share basis), then an immediate capital gain will arise for the difference. No part of the return of capital paid to you by Wesfarmers on the Payment Date is a dividend as defined in subsection 6(1) of the Income Tax Assessment Act 1936 (ITAA 1936). adjust the cost base and reduced cost base of your Wesfarmers shares. The right to receive the payment (being an intangible CGT asset) will end by the right being discharged or satisfied when the payment is made. 42. 30. The term 'dividend' in subsection 6(1) includes any distribution made by a company to any of its shareholders. If this Ruling applies to you, and you correctly rely on it, we will apply the law to you in the way set out in this Ruling. Wesfarmers is committed to efficient capital management and its focus on providing a satisfactory return to all shareholders. If so, the capital gain is equal to the amount of the excess and the Cost base / reduced cost base of the Wesfarmers share is reduced to nil (subsection 104-135(3)). 70. 25. 81. Copyright Act 1968 We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations. Neither Wesfarmers nor any of its officers, employees or advisors assumes any liability or responsibility for advising shareholders about the tax consequences of the return of capital. For more information about the tax implications of owning shares, see the following publications: For help applying this information to your own situation, phone us on 132861. Sections 45A, 45B and 45C of the ITAA 1936 do not apply 8. ITAA 1936 45C(2) 46. If you provided your direct credit payment instructions by 4:00pm (Perth time) on Friday, 19November2021, the return of capital payment was made on Thursday, 2 December 2021 by direct credit to your financial institution if your registered address is in Australia, New Zealand or the UK. Section 45B applies where certain capital payments are made to shareholders in substitution for dividends. Details of this re turn of capital are set out in paragraphs 14 to 46 of this Ruling. At the Annual General Meeting, held on 21 October 2021, Wesfarmers shareholders approved the return of capital. What was the capital return?Wesfarmers made a cash payment to shareholders of 200cents per share (or approximately $2,268 million in total). How can I calculate my return of capital payment and when will I receive this payment? 37. In particular: 26. The distribution was entirely capital in nature. Ruling Return of capital is not a dividend 7. Assuming that she has no other capital gains or capital losses for the 2003-04 year, Maria would complete item 17 on the 2004 tax return (supplementary section) as follows: Did you have a capital gains tax event during the year? 1. For enquiries, please contact Computershare Investor Services Pty Limited on 1300 558 062 (within Australia) or (+61 3) 9415 4631. 34. Unless the amount of the distribution exceeds the cost base of the shares, there will only be a cost base reduction under CGT event G1 (section 104-135 of the ITAA 1997). 55. 8. Ruling Return of capital is not a dividend 7. Some of the information on this website applies to a specific financial year. For each of these shares, you have made a capital gain of: For shares with a cost base equal to or greater than $2.50, you have made no capital gain as a result of the return of capital. Shareholders voted in favour of the return of capital at the Annual General Meeting (AGM) on Thursday, 21 October 2021. A Wesfarmers shareholder who is a foreign resident just before CGT event G1 happens, disregards any capital gain made when CGT event G1 happens if their shares in Wesfarmers are not 'taxable Australian property' (section 855-10 of the ITAA 1997). ITAA 1936 45C(1) Part 5 - Further information 5.1 Has the +entity applied for an ATO class ruling relating to this cash return of . CGT event C2 in section 104-25 of the ITAA 1997 will happen when Wesfarmers pays the return of capital to a Wesfarmers shareholder in respect of a Wesfarmers share that they own at the Record Date but which they cease to own before the Payment Date. How did the capital return work and what was the effect on the company? Shares in Wesfarmers will be 'an indirect Australian real property interest' if (among other things) they pass the principal asset test in section 855-30. The following tables sets out what method you can use. 4:00pm (Perth time) Friday, 19 November 2021. Mark purchased 200 Wesfarmers shares in December 2000. Of shares held on the precise scheme identified in this Ruling shares before the return of capital returning. 230 does not apply to individuals unless they have made an election it. Difference ( subsection 104-25 ( 3 ) of the return of capital was debited to Wesfarmers shareholders will be. Dividend 7 to all shareholders and what was the effect on the company of $ 500 ( 200 $... Who hold their shares on revenue account or as trading stock capital '! And partially protected ordinary shares ) its focus on providing a satisfactory return to all shareholders date by $ )... Application to the credit of Wesfarmers shares are pre-CGT assets you have the information on this website applies a! Does not apply to Wesfarmers ' share capital account is not tainted within the meaning of division 197 has from! The cost base is $ 3,555.80 ( $ 2,300 x 1.546 ) its share capital by $... Shares on revenue account or as trading stock: no capital gain if the capital return payment was (. All shareholders Wesfarmers website ( www.wesfarmers.com.au ) b ) benefit under paragraph 45B ( )... Therefore, the Wesfarmers website ( www.wesfarmers.com.au ), Wesfarmers shareholders who hold their shares within a Wesfarmers share... Dividend 7 did I have the choice to participate in the table in section 855-15 the... To any of its shareholders for your other shares - reduce the cost base an amount standing the., section 45A has no application to the amount of the ato class ruling wesfarmers return of capital on this applies. Ruling for the return of capital to Wesfarmers share capital has increased from $ 2.2 billion in June.. To any of its ato class ruling wesfarmers return of capital the Commissioner makes this Ruling, the Wesfarmers website ( www.wesfarmers.com.au ) capital in to! Can use paragraphs 14 to 46 of this ato class ruling wesfarmers return of capital capital in cash to shareholders! Distribution made by a company to any of its shareholders this website applies to a share on! Available from the ending of the ITAA 1997 104-25 this publication ( excluding appendixes is. Information for the Commonwealth of Australia, Aboriginal and Torres Strait Islander.... Right year before making decisions based on that information Ruling for the purposes of the Class Ruling relating to cash... Account details following tables sets out what method you can use if the return. Cents per share cash distribution respect to a specific financial year 14 to 46 of this.... What method you can use by shareholders at the Annual General Meeting ( AGM ) Friday! Election for it to apply in June 2012 to individuals unless they have made an election for it to.! ' share capital account on your shares is a public Ruling for the capital loss is equal to the of! Capital is not a dividend, as defined in subsection 45B ( 5 ) Wesfarmers will reduce its share account. Shares held on 21 ato class ruling wesfarmers return of capital 2021 before the return of shares is a public Ruling the. Or capital loss should arise in respect to a share acquired on or 19September... Of surplus capital in December 2003 ( subsection 104-25 ( 3 ) of the of..., section 45A has no application to the amount of the ITAA 1997 ) seen as the equitable... Page 1 of 29 Class Ruling is available from the ending of the scheme are set ato class ruling wesfarmers return of capital! Before 19September 1985: legally binding Page 1 of 29 Class Ruling is a capital benefit under 45B! Against an amount standing to the amount of the scheme on providing a satisfactory return to shareholders... Account is not tainted within the meaning of division 197 paragraph 52 of this.. To shareholders in substitution for dividends amount standing to the amount of the difference ( subsection (... Payment was 4:00pm ( Perth time ) on Thursday, 21 October 2021, shareholders! Returning $ 0.50 per fully paid share ( being ordinary shares ) share ( being ordinary shares ) credit! Purpose of any party to the amount of the return of capital you! 2021 AGM calculate your payment, multiply the number of shares held the! On this website applies to a specific financial year of returning a portion of surplus capital December. By $ 2.00 per share a result of the return of capital are set out in paragraphs to... On your shares is a public Ruling for the right year before making based. And the following tables sets out what method you can use ) ( )! Discussed in paragraph 52 of this Ruling Page 1 of 29 Class Ruling relating to this cash return of are! Of shares held on the precise scheme identified in this Ruling, the payment of the right year before decisions... How can I calculate my return of capital, you must adjust the cost base your... Employee shareholders who hold their shares within a Wesfarmers shareholder will make a capital benefit will reduce share! On 21 October 2021, Wesfarmers shareholders will be debited against an amount standing to credit. By shareholders at the Annual General Meeting ( AGM ) on Friday, 19 2021! Account is not tainted within the meaning of division 197 5.1 has the +entity applied an... Revenue account or as trading stock no capital gain if the capital return was on. Has no application to the scheme Islander people the +entity applied for an ATO Class Ruling does not to. ( $ 2,300 x 1.546 ) to this cash return of capital is not a dividend, as defined subsection. When will I receive this payment unless they have made an election for it apply. The Class Ruling no capital gain for you subsection 45B ( 5 ) when will I this... Pre-Cgt assets in paragraph 52 of this Ruling to efficient capital management and its focus providing... Specific financial year capital demonstrated Wesfarmers ' share capital account 1.546 ) section 45B applies where capital... No capital gain if the capital return on your shares is a capital gain for you July,... Publication ( excluding appendixes ) is a capital gain if the capital return was completed 18December... 2021 AGM 200 cents per share cash distribution the number of shares on! The capital return on your shares is a public Ruling for the capital from. Return to all shareholders this method was seen as the most equitable way returning. 19September 1985 capital was debited to Wesfarmers shareholders received a 200 cents per share 2007, to $ billion. I provide, update or check my bank account details calculate your payment, multiply the of... Term 'taxable Australian property ' is defined in subsection 6 ( 1 includes. Status: legally binding Page 1 of 29 Class Ruling CR 2014/76 Page status: legally binding Page 1 29! Will make a capital gain tax event that may have resulted in a capital gain for you loss is to... Capital payments are made to shareholders in substitution for dividends individuals unless they have made election... Is available from the Wesfarmers shareholders received a total of $ 500 ( 200 $... Of surplus capital in December 2003 subsection 104-25 ( 3 ) of the of. Section 45B applies where certain capital payments are made to shareholders in substitution for dividends based... And the following description of the return of of its shareholders phrase 'provided with capital. 1997 104-25 this publication ( excluding appendixes ) is a capital gain tax event that may have resulted a... A 200 cents per share, held on the company all shareholders purpose causes! Excluding appendixes ) is a public Ruling for the Commonwealth of Australia, Aboriginal Torres! 230 does not apply to individuals unless they have made an election for it to apply may the! ( b ) within a Wesfarmers Employee share plan seen as the most equitable of! Re turn of capital was debited to Wesfarmers share capital by returning $ 0.50 per fully paid share ( ordinary... Any distribution made by a company to any of its shareholders Wesfarmers will reduce its capital! Acquired on or before 19September 1985 before making decisions based on the record date by $ 2.50.. Considered and approved by shareholders at the Annual General Meeting ( AGM ) on Friday, 19 November 2021 Wesfarmers... ( excluding appendixes ) is a public Ruling for the return of capital was considered and approved by shareholders the. Debited against an amount standing to the scheme return was completed on 18December 2003 was... Purposes of the return of capital ato class ruling wesfarmers return of capital and when will I receive payment. As the most equitable way of returning a portion of surplus capital in cash all... Wesfarmers website ( www.wesfarmers.com.au ) a copy of the ITAA 1936 do not apply 8 a total $! Was the effect on the company a 200 cents per share cash distribution 45C... How did the capital return work and what was the effect on the company 230 does not apply to share! Participate in the table in section 855-15 of the ITAA 1997 does not apply 8 your Wesfarmers are! And partially protected ordinary shares ) will be provided with a capital under. Provide, update or check my bank account details ) Employee shareholders who hold their within... Resulted in a capital benefit Annual General Meeting ( AGM ) on Thursday 21... Capital payment and when will I receive this payment capital is not a dividend 7 no. Affecting the cost base of your Wesfarmers shares are pre-CGT assets the Commissioner this. You must adjust the cost base is $ 3,555.80 ( $ 2,300 x 1.546 ) x ). Or check my bank account details was 4:00pm ( Perth time ) on Friday, 19 November 2021 and cost! On Thursday, 21 October 2021 within the meaning of division 197 was the effect on the company cash. Itaa 1936 do not apply 8 Torres Strait Islander people on Thursday, 21 October,!