Re: [GNC] Share Records When Receivers Appointed

2024-03-01 Thread Geoff
[I am not an accountant] I agree with John. The shares are currently untradeable and effectively worthless so set the price to zero and bring your capital loss to book as an expense (or negative income). Then, if you think you can offset it against future capital gains for tax purposes, you

Re: [GNC] Share Records When Receivers Appointed

2024-03-01 Thread john
I think that's a question for a local licensed tax or accounting professional. It's true that the accounting value of an asset is what you paid for it (modulo depreciation, but that doesn't apply to shares) until you decide/are allowed to write it When that is depends heavily on your jurisdicti

[GNC] Share Records When Receivers Appointed

2024-03-01 Thread flywire
How should shares be recorded in GnuCash once receivers are appointed? Shares are no longer being traded but the ASX quote feed returns the price last traded. There seems to be a realistic (management) value and a tax value. The realistic share value is zero but I understand the tax value is the p