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Trading Halt for 18 months, off market transfer for tax loss?

Discussion in 'Stock Market Nuts and Bolts' started by o0mikey0o_17, Apr 17, 2017.

  1. o0mikey0o_17


    Likes Received:
    Apr 17, 2017
    Hi Guys,

    I currently pay 46% of my income in tax and don't mind paying my taxes, but fear I am about to pay double.

    The business I was working with in 2015/17, which I was heavily invested in through RSU and ESP, sold and I realized financial gains (approximately 70k AUD) which is great! I only held the stock for about 12 months. Shortly after I was made redundant anyway, so much of that replaced my income and away we went.

    In 2015, I purchased a terrible stock, and since that year, it's been in trading halt and I'm holding a 82% loss, ever since (approximately $42k loss)

    I've been hoping they would resume trading before FY16/17 so I can liquidate the lot, however, I'm concerned now that's not going to be possible.

    Is it possible/legal to transfer or give away stock, that's in trading halt, off market? And realize that capital loss?

    I don't care if it goes to family or even a homeless person, I just don't want the tax that I'll have to pay on my gain.


    Bitter/sweet investor
  2. Iggy_Pop


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    Mar 10, 2009
    Thought share gift might be an option but they do not cover suspended companies. http://www.sharegiftaustralia.org.au/donating-shares-1
    I assume you could do an off market transfer to some else in you family and would be able to claim the loss. Suggest ringing your broker and ask.

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