Income tax: capital gains: can a shareholder in HIH Insurance Limited choose to make a capital loss on a share in that company under CGT event G3 (about a liquidator declaring shares worthless) in section 104-145 of the Income Tax Assessment Act 1997 ?
Please note that the PDF version is the authorised version of this withdrawal notice.This document has changed over time. View its history.
Notice of Withdrawal
1. TD 2002/3 explains that because the liquidator of HIH Insurance Limited (HIH) has made the necessary declaration, a shareholder in HIH who acquired a share on or after 20 September 1985 can choose to make a capital loss equal to the reduced cost base of the share under CGT event G3 in section 104-145 of the Income Tax Assessment Act 1997.
Commissioner of Taxation
20 December 2016
You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
CGT event G3
reduced cost base