VCM47010 - VC loss relief: mixed holdings:
introduction
ICTA88/S576 (1)
Taxpayers may have a mixed holding of shares in a company some
of which qualify for VC loss relief and some of which do not
qualify. For example, some of the shares may have been subscribed
for and some may have been purchased. This may present two
difficulties when an allowable loss arises on a disposal of the
shares:
- If only part of a mixed holding has been
sold, how do you identify whether the disposal is of qualifying or
non-qualifying shares - see
VCM47050.
- Once you have identified which shares have
been sold, or if the whole of a mixed holding has been sold, how do
you quantify the part of the allowable loss that relates to the
qualifying shares - see
VCM47100.
