Hi Team,
Subject : Share in companies ( Delisted , Taken Over , Changed names )
I have a query about the scenario as below :
Scenario : Multiple shares were purchased in various listed companies in financial year 2022 and most of the companies has been delisted and we no information available at all and some companies were taken over and currently listed with different company names. and some has changed the company names.
My queries are :
1) Companies Delisted : some companies delisted with no information available at all = can we recognise cost base as a capital loss to carry forward it to later income years. no money received . and no letters or any information received from liquidator or administrators.
we dont know where to get the information if account was closed in late 2022.
2) Company operating under New Name : with one company operating under new company name, looks like no CGT even until share are sold ?
3) Companies Taken over then later delisted : some of the companies were taken over by other companies and now those companies has also been delisted and no any information is available. can we recognise cost base as a capital loss to carry forward it to later income years. no letters or any information received from liquidator or administrators.
4) if assuming , we can not carry forward capital loss to later income year then what exactly happens to the capital loss ?
I would appreciate if you can please provide any relevant rulings and ato readings with similar scenarios.
appreciate your for time and response.
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