It was full up already... audio said it would be available an hour later here..
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AVZ Discussion 2022
- Thread starter GazDix
- Start date
Spikerama
Regular
Haha. I was wondering when someone was going to find that Mr Smith Goes to Washington parody. I never intended for it to be used but I guess now is as good a time if any. Maybe I should update it with a banner that says "8 billion dollars in the making"
Trump supporter Erik Prince reaches deal with Congo to help secure mineral wealth
So, it seems that the US_DRC minerals-for-security deal has made progress with the entry of Blackwater, which is a well-known private military training and security organisation.
Read the full article here:
Cheers
F
Skar
Regular
Before anyone thinks of doing something like this, please speak to an accountant and familiarize yourself with the concept of a wash sale.
...and related-party transactions, which are red flags to the ATO, particularly in a SMSF.
My expectation is that the ATO will be ok so long as the sale of your non-super AVZ shares to your SMSF is done at a transaction value that is prepared by an ATO approved valuation company. I have obtained a quote for the valuation fee, which is $5,500, plus I have submitted a formal query to the ATO via the Business Portal secure mail process, and at present I am waiting for the ATO reponse. The ATO has indicated that their response will be available by 25-Apr-2025, but perhaps they may take longer. If the ATO approves my proposal, I will proceed with the formal valuation of AVZ and complete the transfer of my non-Super AVZ shares to my SMSF before Kobold and RIO, for example, buy AVZ.
Getting an ATO ruling in advance is good insurance and shows a commitment to transparency.
oxxa23
Regular
Correct.... can't be done from related entity while de-listed. Potentially can purchase with SMSF from a non-related entity.... could be interested in a win-win arrangement if someone else looking to get some holdings across into their SMSF.
Before I get torched for coming out of the woodwork... I'm just an introverted long time holder that's been lurking in the shadows suffering the same mental/financial strain as everyone else through this fkd up drama. Recent development give a glimmer of hope, however I have no doubt given the mud thrown to date, our enemies are working overtime to screw us further.
Maybe, but the ATO's data matching algorithms may flag cross-holding transactions undergone with the purpose of avoiding tax.
If the ATO decides to disallow a transaction, the trustee is in a world of pain.
oxxa23
Regular
To be fair... ato are bloody useless... even when their data is incredibly specific and pointed...
But, we could get hit by a bus outside our front door too...
Oh, I hope I didn't misunderstand your comment.
If you are thinking of a one-way transaction in order for your SMSF to simply acquire the asset at market value from an unrelated party...good to go.
However, if it's a two-way transaction (below) then the ATO may smite thee, depending on its view on the purpose of the transactions:
- an individual sells an asset (unlisted AVZ shares) to an unrelated party, and
- the unrelated party back-sells the same asset (unlisted AVZ shares) to the original person's SMSF...then the ATO may see this as a contrived scheme to avoid tax, regardless of whether some CGT is collected in the process.
F
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give me a sale and I'll be grateful to discuss tax obligations, until then paying tax is the furthest thing on my mind. What I took out of the series of us-africa media hub tweets that Frank posted is that negotiations are ongoing and going ok but actually getting a deal done could be a long way off.
KentCStrait
Regular
So much bad and incorrect tax advice—on an offer that hasn’t even been made yet!
Assuming an offer is made, and we as shareholders actually accept it (I’m still highly skeptical we won’t be screwed over yet again), the most likely outcome is a share buyback to allow shareholders to realise their capital gains discount.
Assuming an offer is made, and we as shareholders actually accept it (I’m still highly skeptical we won’t be screwed over yet again), the most likely outcome is a share buyback to allow shareholders to realise their capital gains discount.
Well that’s the decision for Kobild or whoever wants it. Offer a decent amount now and assume some risk or risk AVZ doing very well at ICSID and being awarded 10+B and setting the floor price. Once ICSID begins AVZ should see it through
oxxa23
Regular
Please explain how capital buyback enables cgt discount? If they have the cash, let's just say $5bn, that will have already been due to a taxable transaction... in which case anything above the $226m of issued capital would need to come back as dividend wouldnit not? A share bauback will still leave all the retained profits...
Yes a share buy back would enable crystallising of losses also, but, not cgt discount...
Avz would have to do a deal where shareholders shares are either purchased or taken script for script to enable any cgt relief... (other than crystallising losses).
I long for a cgt event, but, feel it is unlikely... avz won't want to give Chinese or mmga maggots a vote on share sale or project sale... therefore I think it will need to be structured some other way... likewise, due to catl, don't think we'll receive the ML deliberately... both make be feel a taxable event wil be the result... not a cgt event for shareholders.... of course I could be wrong... just my opinion and gut feel
Azzler
Top 20
Surely they could at least try for a share sale vote and have a contingency back up ready to go if the maggots manage to vote it down.
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