Sammy, if you write off your shares this financial year (ie. 1 July 2016 - 30th June 2017) you are entitled to offset against any nett gain you may have from other shares or property sold this financial year.
And, if the from ashes rises the phoenix (never say never), and the shares are relisted without current common shareholders being 'played out', then your costing of the shares from that moment of revival is deem to be $0; which means that if you sell it thereafter at 10cents (for simplicity sake), your taxable capital gain will be 10cents per share x the number of shares sold.
Hope that clarifies. I am writing mine of this year, as the losses can be carried forward indefinitely, till it is offset with another capital gain. Cheers.
MBN Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
