Extract from: INCOME TAX ASSESSMENT ACT 1997 SECTION 104-145
DECLARATIONS (by an administrator or liquidator)
SECTION 104-145
Liquidator or administrator declares shares or financial instruments worthless: CGT event G3
104-145(1)
CGT event G3 happens if you own *shares in a company, or financial instruments issued by or created by or in relation to a company, and a liquidator or administrator of the company declares in writing that the liquidator or administrator has reasonable grounds to believe (as at the time of the declaration) that:
(a) for shares - there is no likelihood that shareholders in the company, or shareholders of the relevant class of shares, will receive any further distribution for their shares; or
(b) for financial instruments - the instruments, or a class of instruments that includes instruments of that kind, have no value or have only negligible value.
GGP Price at posting:
2.5¢ Sentiment: None Disclosure: Held
