capital loss, page-4

Tallplumber

Yesterday I posted how people maybe able to sell their shares and claim a capital loss this financial year. I have had a look on DELISTED and UNS is not covered there. UNS is not an Australian registered company. UNI is listed there but not UNS.

If this was an Australian company Delisted would report on the progress of UNS being would up and a declaration that shareholders would receive nothing would be declared. You can't legally claim a capital loss until this happens. That process could take months even years. If UNS was an Australian company then you could have sold them to Delisted for a $80 fee and being able to claim a capital loss in the financial year you sold them to Delisted.

With UNS being USA listed then it is a new game to me. You would still have to wait until a USA declaration that the company is worthless to shareholders.

When you do claim UNS as a capital loss in your tax return you can carry that forward to future years until you have a capital gain to claim against it.

If you don't believe me about the above - seek expert opinion. I just don't know how it works with what the process is happening with UNS in the USA.