Just an update to all who are planning to use delisted.com.au - I paid $150 online, completed the forms (e-mailed to me) and posted it to their PO BOX address. 8 days later I received this e-mail message:
You have sold and we have purchased the securities and your capital loss is accordingly crystallised. Please retain this acknowledgement, along with copies of the documents originally sent to you, for record and taxation purposes.Please note that by way of the Declaration of Trust, you have agreed to hold the securities on trust for us until registration of the transfer can be obtained. Registration of transfer is not possible while an entity is in administration or in many other cases where the register is no longer being maintained because registry fees are not being paid. It may therefore be years before registration can be accomplished or indeed it may never happen, as many of these failed entities that go into administration are eventually liquidated and deregistered. That need not concern you because your capital loss is available now.If the entity is about to regain quotation on the exchange, we will then take the necessary steps to register the transfer. That is simple if the securities are Issuer Sponsored and therefore have a Shareholder Reference Number (SRN). No input is required from you in that case.However, if the securities are Broker Sponsored with a Holder Identification Number (HIN), we will send the "Request for Transfer to Issuer Sponsored" form to your broker so that the securities can be converted to Issuer Sponsored. Following that conversion, you should then receive a new Holding Statement showing the SRN. Please email the SRN to us at [email protected] so that we can then attend to registration of the transfer.While the securities may remain in your name in the register, they have been sold to us and you have agreed to hold them on trust until we become the registered owner. Please be aware therefore, that the securities are no longer able to otherwise be disposed of in any circumstances.
So, I keep the shares that are still on my trading account but now I can write them off as a tax loss? Doesn't this sound a little dodgy? Is this a scam?
IOT Price at posting:
0.1¢ Sentiment: None Disclosure: Held
