time to start claiming tax loss, page-5

LOL Virginiak spruiking CMQ again? 3 New European Patents – must be worth a fortune!

All shareholders can claim Capital Loss in this 2007/08 financial year. The administrator’s declaration is in simple English for all to read:

Brian McMaster wrote on page 2 of the announcement: “Accordingly all shareholders may elect to realise a capital loss under section 104-145 of the Income Tax Assessment Act 1997”

This is repeated on page 3: “As a consequence, shareholders who acquired their shares in the Company on or after 20 September 1985 may choose to make a capital loss in the current income year as a result of CGT event G3 happening to their shares. The capital loss is equal to the reduced cost base of the shares”.

Put simply, claim your capital loss for the full amount the shares had cost you, file it away for the extreme miraculous chance CMQ may rise from the grave someday. But more importantly, learn from your experience to see through the bulls in the ASX announcements from companies like CMQ. The writings were on the wall long before the crunch.

Now that this company has come to its sad conclusion, perhaps many should ask who the armies of CMQ spruikers on this website and other websites are!