Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Nothing mention of ABL Shareholder's in Market update

Reply
Snaps
Occasional Contributor
Seems ordinary shareholders of ABL are no longer considered going forward. Little mentioned of Shareholders in yesterday's market statement update and subsequent curator interviews on radio/tv.
0 Kudos
Reply
10 REPLIES 10
SimonPB
Valued Contributor
truth is ordinary shareholders are very last in line and should expect little or nothing
0 Kudos
Reply
HC
Occasional Contributor
Anyone got any idea when we can take the negative CGT hit on our worthless ABIL shares? Do we have to wait for the "good bank" to relist? Sounds like that relisting could be 2 years out.
0 Kudos
Reply
HC
Occasional Contributor
Anyone got any idea when we can take the negative CGT hit on our worthless ABIL shares? Do we have to wait for the "good bank" to relist? Sounds like that relisting could be 2 years out.
0 Kudos
Reply
klapka
Super Contributor
Whilst the share is suspended you cannot do anything.
0 Kudos
Reply
THRESHOLD
Super Contributor
Treat it as a trading position and you can write it down to the final 31c price for income tax. You could even raise a provision against the 31c...
0 Kudos
Reply
THRESHOLD
Super Contributor
Treat it as a trading position and you can write it down to the final 31c price for income tax. You could even raise a provision against the 31c...
0 Kudos
Reply
partridge
Super Contributor
If you are not a trader then a "disposal" has to take place for CGT to arise
0 Kudos
Reply
THRESHOLD
Super Contributor
Which is why I said "treat it as a trading positition." You can have a change of intent ("ipse dixit") - although SARS might frown on that under these circumstances. Nothing ventured, nothing gained...
0 Kudos
Reply
itsytobias
New Contributor
A change in intention from capital to trading is a deemed disposal at market value (section 12(3)). Therefore your scheme wont work...
0 Kudos
Reply
THRESHOLD
Super Contributor
The change of intent would obviously have to take place the collapse.... provided you have not submitted yet. Depends on your timing... the whole thing is a scheme anyway - and SARS has the power to reject it on that basis... so I highly doubt it would work making this an exercise in futility from the outset.
0 Kudos
Reply