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How do I write this baby OFF?, page-18

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Particle4

28 Posts.

20/06/16

16:04

Post #: 18075613
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Originally posted by jessemcm ↑

If it was a dog, I'd have put it out of it's misery two years ago. Seems it just won't die!

I spoke to Clare today of Pitch Partners the receivers and managers of PLV, I was hoping to find a way to write the capital loss of this financial year. Unfortunately, Clare said the first stage of re-capitalisation is scheduled for this week and the second I think she said was due for July. She was adamant it would trade again in the 2nd half of this year.

Therefore, I cannot get PWC to write a declaration that the company is worthless and cannot use CG Tax event 3G to write it off.

Can anyone suggest another avenue to pursue to realise the capital loss FY16?

Thanks

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You could consider an off market transfer to a friendly for $1. Then ask the share registry if they would process the transfer - they would probably want to charge a min fee for doing this though so ask them first. Check with your tax person if there are any issues doing this. Not saying this will work but it might.

PLV Price at posting: 1.2¢ Sentiment: None Disclosure: Not Held
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