Hi Jack Just adding to your comments, there is a company called...

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Naish

2,061 Posts.

25/05/16

15:13

Post #: 17864065
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Originally posted by Jack1960 ↑

Generally speaking, in order to claim a CGT loss in Australia, a shareholder requires a written advice from the company's liquidator and/or administrator, specifying that there is unlikely to be any return of capital to shareholders.

Delisting or valueless shares does not crystallise a loss.

You may wish to execute an Australian Standard Share Transfer Form transferring the shares from the current owner to a new (presumably related) owner around the current price. This is known as an "off market transfer".

As a duly executed transfer document, your CGT loss would be available to you in the financial year of the date of the off market transfer. The sale proceeds may be in cash or in specie, depending on your particular situation.

To be effective, this would need to be done before the stock is delisted so that share registry can process the change. hopefully, this will not happen, but you need to consider whether it is in your interests or not to do it. I suggest you get some (simple) personal advice from your accountant.

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Hi Jack

Just adding to your comments, there is a company called "Delisted" in Australia that will buy your shares - costs about $80 I think to transfer the stock to them. Can do this any time if stock is worthless. Otherwise have to wait for letter from the administrator saying they are worthless.

http://www.delisted.com.au/

UNS Price at posting: 6.2¢ Sentiment: Hold Disclosure: Held
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