Shares from takeover and capital gains if sold

• 19 May 2011

• #1

G

Gareth

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Hi to all, I have some NCM shares from when they tookover Lihir Gold! I am thinking of selling them all but I wont have held the shares for a year until Sept 2011. What are the capital gains implications? are the shares recognised from when I bought LHG some years ago or from when the takeover happened. Hope someone can help and I understand it will be advise only! Gareth

 

• 20 May 2011

• #2

Uncle Festivus

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Google is wonderful

This is the ATO ruling -

http://law.ato.gov.au/atolaw/view.htm?docid="CLR/CR201063/NAT/ATO/00001"

from part 28

or ask your tax agent

 

• 20 May 2011

• #3

burglar

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Gareth said:

... I understand it will be advise only! Gareth

Click to expand...

Hi Gareth,

Glad you received a good reply from Uncle Festivus. Good one Uncle!

But it was NOT advice, because we are not qualified to give advice.

burglar

 

• 20 May 2011

• #4

G

Gareth

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Thank you Uncle Festivus - I will read the ATO info and get my answer. and yes google is wonderful.

Thx burglar for pointing out my error

Gareth

 

• 20 May 2011

• #5

burglar

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Gareth said:

Thank you Uncle Festivus - I will read the ATO info and get my answer. and yes google is wonderful.

Thx burglar for pointing out my error

Gareth

Click to expand...

No need for a banghead. Nor apology. You is in the beginners lounge to learn.