Ok, it looks as if BNBG noteholders might just end up getting 10 cents in the dollar.
Ihave a question.
If in normal circumstance, then any profit gain from BNBG will be counted as income and be tax at appropriate income rate.
However, in this particular case BNBG has gone into administration. If i buy BNBG for $2 and end up getting paid $10. Would my profit of $8 be tax at income tax rate or can i apply the 12 months 50% discount rule, this is because i have invested in an asset and have held this asset for more than 12 months. The asset have now appreciated.
BNB
babcock & brown limited
