This is the requirement from the ATO before we can crystallise losses on shares.
Conditions that must be satisfied You may choose to make a capital loss if all the following conditions apply:
You are an Australian resident for income tax purposes.
You hold a share or financial instrument relating to a company that went into liquidation or administration.
You acquired the share or financial instrument after 19 September 1985.
A liquidator or administrator of the company made a written declaration that they believed the shares were worthless or the financial instruments had no value or negligible value.
Any gain or loss you would make on the share or financial instrument is a capital gain or capital loss – that is, you hold the share or financial instrument as an investment asset and