- Joined
- 17 April 2017
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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.
Curiously...
Bitter/sweet investor
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.
Curiously...
Bitter/sweet investor
