The Australian Tax Office says: Shareholders of TNHL will need to account for a capital gains tax event occurring on the takeover date. It is expected that taxpayers will calculate an amount of capital loss which can be offset against any capital gains arising in the 2018 year. Example: Andrew purchased 1000 TNHL shares in 2012 for $2,120 ($2.12 per share). His brokerage costs were $50, making his cost base $2,170, or $2.14 per share. The receivers and managers of TNHL transferred Andrew's shares to CBS Network Ten BV for no consideration pursuant to the court order. Andrew calculates his capital losses as follows: capital proceeds - $0.00 cost base of the shares - $2,170 capital losses - $2,170
12/06/2018
1
we understand all shares in TEN were transferred to CBS International Television Australia for nil consideration following TEN's failure and subsequent administration
24/11/2017
TEN Price at posting:
16.0¢ Sentiment: None Disclosure: Not Held
