Depends what his cost base was in the original entity. If lower than transfer price then yes it would give rise to a CGT event and therefore he would have to declare this. I think in his SMSF it may be considered a non-concessional contribution but I could be wrong. Haven't practised tax for many years and forgotten most of the rules.
Ann: Change of Director's Interest Notice, page-5
Add EGR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
11.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $52.21M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 11.5¢ | 11.0¢ | $10.7K | 96.24K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 78525 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.5¢ | 24871 | 2 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| EGR (ASX) Chart |