- Joined
- 3 July 2009
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I've just hit a bit of a hurdle I didn't know about, if a company you invest in goes belly up and delists they no longer have a HIN number.
So lo and behold your holdings are no longer able to be confirmed through Chess, but if the company stays as a non listed company you now need a SRN number, but they might not have one.
The cost might not make it worthwhile for the $hitbox company to fold the shell.
Well that becomes a problem for the SMSF trustee, because the shares still exist and need to have a value, for the ATO audit.
The joys of trying to stay in front of the curve.
Just thought it would be a good thread to start up, for those interested in starting their own funds.
After nearly 20 years of running a SMSF, I've learnt first hand not to invest in green can dreaming companies.
Luckily the penny dropped three days ago and I off loaded all the blue sky renewables, it could have been a disaster waiting to happen IMO.
So lo and behold your holdings are no longer able to be confirmed through Chess, but if the company stays as a non listed company you now need a SRN number, but they might not have one.
The cost might not make it worthwhile for the $hitbox company to fold the shell.
Well that becomes a problem for the SMSF trustee, because the shares still exist and need to have a value, for the ATO audit.
The joys of trying to stay in front of the curve.
Just thought it would be a good thread to start up, for those interested in starting their own funds.
After nearly 20 years of running a SMSF, I've learnt first hand not to invest in green can dreaming companies.
Luckily the penny dropped three days ago and I off loaded all the blue sky renewables, it could have been a disaster waiting to happen IMO.
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