Always seek professional advice. Experience has taught me not to trust all comments here.
In saying that, here is me 5.3c worth. From my understanding, and I am not an accountant...
Until you dispose of the asset, you do not incur any capital loss or capital gain. If you bought at $1.50 and, without any consolidation / splitting of shares, these were eventually sold for 50c, you would incur a $1 capital loss.
If they issue you with a 1:1 (or other ratio) share swap for an alternative holding then, subject to ATO ruling, these would also not be subject to capital gains/loss.
If they go broke and the shares are wiped out you get the full loss available
If they become worthless shares but are never sold or written off, you are still holding them and have no claims to tax benefits
If they list on the NYSE in 5 years at $50 and you are issues 1:1 shares but don't sell any, you are also not liable for capital gains.
In short, as long as you still hold the asset, regardless of value, you have no tax credits or liabilities.
Sold my holding last week so I can bank my capital loss and then picked them up again a few days later.
From the looks of things, an influx of buyers are popping up and there is going to be a final gasp before delisting.
SPT Price at posting:
5.3¢ Sentiment: Hold Disclosure: Held
