How to record Booktopia (BKG.ASX) delisting
Content also available for tax entities or on our global site.Summary
Between July-August 2024, Booktopia entered voluntary administration and subsequently acquired by digiDirect. The stock was later delisted from the ASX after Booktopia failed to pay the annual listing fees.
Tax implications
Capital gain
Working out your net capital gain or net capital loss for the 2024 year
This delisting is a taxable event. You can calculate your estimated tax liability using our CGT calculator. If you have more than one trade, you can add them in Sharesight and run the CGT Report to calculate your tax liability.
To work out your net capital gain or net capital loss for the year, you must take it into account:
- any other capital gains or capital losses you make in the 2024 income year from other transactions
- any net capital losses carried forwards from earlier income years
- whether you can apply the CGT discount to any part of your net capital gain.
How to update this in Sharesight
1 – On the overview page, select BKG.ASX
2 - Select Trades & Income tab
3 - Select Add trade or adjustment
4 - Trade date: 30 August 2024
5 - Trade type: Sell
6 - Quantity: All shares on hand
7 - Unit / Share price: 0.00
8 - Select Save trade
FAQ
What happens to my shares after the delisting?
All of your shares are liquidated.
Do I need to take any action?
You do not need to take any action.
What do I receive for my shares?
You do not receive anything for your shares.
Will I owe Capital Gains Tax (CGT) on the acquisition?
This delisting is a CGT event. No CGT is payable if a capital loss occurred. You can calculate your estimated tax liability using our CGT calculator. If you have more than one trade, you can add them in Sharesight and run the CGT Report to calculate your tax liability.
Where can I find the official announcement and details?
You can find the scheme implementation document here.
The guide above is a suggestion on how to handle the corporate action in Sharesight and is not finance or tax advice. We advise you to consult your financial advisor or accountant. We also encourage you to review the official Documents for full details.
Last modified on November 7, 2024 UTC