AVZ Discussion 2022

[rocknrolla]

Quick thanks to everyone for the effort they put in here. A mate of mines brother in law is top 20 and all he ever says is it’ll be right, so assume it will be. Chucking down a can or two for my 38th before heading down the beach for a feed, from the Whitsundays.

 

[Onthefm]

Quick thanks to everyone for the effort they put in here. A mate of mines brother in law is top 20 and all he ever says is it’ll be right, so assume it will be. Chucking down a can or two for my 38th before heading down the beach for a feed, from the Whitsundays.

I hate you. 38 whitsundays. Jesus christ it's not fair. Cheers have a great bday prick.

 

[TDITD]

The Mining Licence has been awarded by MOM decree. Just waiting on the snake Mupande to issue appropriate surface rights .Problem is he does not follow the mining code and makes adjustments to suit his agenda..
Mentioned to Fraunck that there no time limit to issue surface rights.
Momentum and IGF need to take Mupande to court .
After 7 months why has this not occurred?

We have already taken CAMI to court and the excuse was they are calculating the cost. Agree we need to take them again though.

 

[Mr Inappropriate]

Quick thanks to everyone for the effort they put in here. A mate of mines brother in law is top 20 and all he ever says is it’ll be right, so assume it will be. Chucking down a can or two for my 38th before heading down the beach for a feed, from the Whitsundays.

Is your mate’s brother in law getting his good vibrations from inside the AVZ tent?

We thought we had good vibrations a few times now, but all we’ve got was the dreaded “brown note”.

 

[rocknrolla]

Is your mate’s brother in law getting his good vibrations from inside the AVZ tent?

We thought we had good vibrations a few times now, but all we’ve got was the dreaded “brown note”.

Short answer long answer is yes. Some stuff was similar to Fox previously, I’ve given up asking for updates, other than, we good? Answer is yes.

 

[Azzler]

[I will get actual ATO advice on the following question, just asking casually for now]

Thought I'd see if any of you AVZ heads know the answer to this tax question, and I decided to ask in this thread because other investers might be in a similar situation and benefit from any knowledge.

So I purchased many different parcels of AVZ OPTIONS at different times and prices.
I converted all of the options at once (3c each IIRC) before they expired.
Now I know this event began the 12 month holding clock over again, from the time of conversion (back in may 2020), but I'm wondering when it comes time to sell these shares, can I average the cost of all the options I bought, add 3 cents, and treat them all as one big parcel of shares aquired on conversion day, for the purposes of figuring out capital gains?

For example, lets say I bought 100 options at 2 cents, and 100 options at 4 cents at a later time.
Conversion at 3 cents.
Can I just average the 200 total options at 3 cents each, and add the strike cost of 3 cents for a total outlay of 6 cents cost per share for all 200?
Or do I have to treat them as 2 seperate parcels, 100 costing 5 cents, 100 costing 7 cents?

In the first instance, if I were to sell 150 of these shares, it's a simple calculation and easy to keep track of what's left over.
But if it's the second case, I'd have to calculate 2 seperate capital gains events, one for one parcel, and one for half of the other parcel.

I hope that makes sense, and please, again, when the time comes, I WILL ask the ATO.

Cheers.

 

[ptlas]

He's obviously trying to stall us out . He knows at some point if no one makes him change AVZ will have to accept whatever he is offering . imo

Maybe Felix could take a leaf out of Scomo's book and appoint himself MoM.

 

[MoneyBags1348]

[I will get actual ATO advice on the following question, just asking casually for now]

Thought I'd see if any of you AVZ heads know the answer to this tax question, and I decided to ask in this thread because other investers might be in a similar situation and benefit from any knowledge.

So I purchased many different parcels of AVZ OPTIONS at different times and prices.
I converted all of the options at once (3c each IIRC) before they expired.
Now I know this event began the 12 month holding clock over again, from the time of conversion (back in may 2020), but I'm wondering when it comes time to sell these shares, can I average the cost of all the options I bought, add 3 cents, and treat them all as one big parcel of shares aquired on conversion day, for the purposes of figuring out capital gains?

For example, lets say I bought 100 options at 2 cents, and 100 options at 4 cents at a later time.
Conversion at 3 cents.
Can I just average the 200 total options at 3 cents each, and add the strike cost of 3 cents for a total outlay of 6 cents cost per share for all 200?
Or do I have to treat them as 2 seperate parcels, 100 costing 5 cents, 100 costing 7 cents?

In the first instance, if I were to sell 150 of these shares, it's a simple calculation and easy to keep track of what's left over.
But if it's the second case, I'd have to calculate 2 seperate capital gains events, one for one parcel, and one for half of the other parcel.

I hope that makes sense, and please, again, when the time comes, I WILL ask the ATO.

Cheers.

You can’t average separate parcels, they have to be sold according to their original individual purchases

 

[JAG]

 

[j.l]

View attachment 26594

On a thread where MMM said "soon" on 20/10/2022.
Jens tends to go out on a limb on these things.
Once 15 times bitten, twice shy...

 

[MoneyBags1348]

WELCOME TO THE
DEMOCRATIC REPUBLIC OF CORRUPTION

The most corrupt politician in the DRC…. The Prime Minister Jean Michel Sama Lukonde Kyenge​

Lukonde is from the Katanga Province and is a member of the Future For Congo Party and Adele Kayinda Mahina is from the AFDC Party.

The Future For Congo Party and AFDC Party are part of the FCC Alliance. The FCC Party was Joseph Kabila’s Party and has over 300 seats of the 500 seat National Assembly

The FFC Party elected Jean Michel Sama Lukonde Kyenge as the Prime Minister, who then appointed the most ministers, all from the FFC Alliance

Lukonde has had the General Inspectorate of Finance (IGF) Report since the beginning of November 2022.

This damming report revealed that the DG of Cominiere, with the authorisation of Adele Kayinda Mahina (Minister of Portfolio), illegally (and with criminal liability) transferred shares valued at $150 million dollars from state owned Cominiere, to a Chinese entity for just $34 Million

Of that $34 Million..,. most of it has mysteriously and unaccountably disappeared

​

 

[Thaz]

[I will get actual ATO advice on the following question, just asking casually for now]

Thought I'd see if any of you AVZ heads know the answer to this tax question, and I decided to ask in this thread because other investers might be in a similar situation and benefit from any knowledge.

So I purchased many different parcels of AVZ OPTIONS at different times and prices.
I converted all of the options at once (3c each IIRC) before they expired.
Now I know this event began the 12 month holding clock over again, from the time of conversion (back in may 2020), but I'm wondering when it comes time to sell these shares, can I average the cost of all the options I bought, add 3 cents, and treat them all as one big parcel of shares aquired on conversion day, for the purposes of figuring out capital gains?

For example, lets say I bought 100 options at 2 cents, and 100 options at 4 cents at a later time.
Conversion at 3 cents.
Can I just average the 200 total options at 3 cents each, and add the strike cost of 3 cents for a total outlay of 6 cents cost per share for all 200?
Or do I have to treat them as 2 seperate parcels, 100 costing 5 cents, 100 costing 7 cents?

In the first instance, if I were to sell 150 of these shares, it's a simple calculation and easy to keep track of what's left over.
But if it's the second case, I'd have to calculate 2 seperate capital gains events, one for one parcel, and one for half of the other parcel.

I hope that makes sense, and please, again, when the time comes, I WILL ask the ATO.

Cheers.

LIke money bags mentioned - you can't average the cost base of the shares across different parcels.

However, the ATO allows for you to specifically choose the parcels of shares for the cost bases that you wish to use in order to calculate the gain.

So you can, hypothetically, get an averaged cost base from that - however there is much more record keeping required and i've never personally seen any of my clients do this.

When lodging your return - all you need to do is disclose the CGT disclosures on your ITR (gross gain/loss/discount applied, proceeds/cost base, etc). i.e. this can be disclosed as the one line item.

If the ATO requests details on how you calculated this - then you would need to provide them workings of the cost base

I've used sharesight previously and i find that it is quite useful in assisting you in maintaining these recordsand calculating the net capital gain.

 

[Scoota30]

On a thread where MMM said "soon" on 20/10/2022.
Jens tends to go out in a limb on these things.
Once 15 times bitten, twice shy...

Agreed, the only twitter post any of us should get excited by is the official AVZ account stating that we have received the ML with a link to an official ASX announcement.

 

[TDITD]

On a thread where MMM said "soon" on 20/10/2022.
Jens tends to go out in a limb on these things.
Once 15 times bitten, twice shy...

To be fair if he was using DRC talk like ol Nige has a penchant for then, “around the corner” well that’s a solid six months in DRC talk

 

[BenGriffo]

Hi @MoneyBags1348 and @Thaz (and @Azzler)

Agree with your comments when staying within the same stock and dealing with just heads or just options.

However when converting options to heads, my experience is that you can take the average buy-in of the options, add the strike/exercise price and that becomes the new buy-in for that set of heads. The new liquidity event bundles them together and mathematically adding the diff quantities and buy-in prices of all your option purchases then dividing by the total number to convert is ultimately the average price.

If you let the options lapse you book that as a lose, but if you convert you bring across the avg buy-in to the heads (or the books don't balance).

Probably a few ways to deal with it. I'm not an accountant but that is what my accountant did while talking to the ATO.

 

[Mr Inappropriate]

View attachment 26594

Interesting that constantin has jumped in - he normally stays outside the fray.

I just wanted to post this picture for the Rudd / Gillard vibes…

 

[Hemicuda]

Interesting that constantin has jumped in - he normally stays outside the fray.

I just wanted to post this picture for the Rudd / Gillard vibes…

Another round of false hope on the way no doubt, looks like some ministerial flatulence by the looks.

 

[j.l]

Another round of false hope on the way no doubt, looks like some ministerial flatulence by the looks.

Haha, beat me to it!

 

[Samus]

We will get the notification done.
What the fuck does this even mean?

 

[DiscoDanNZ]

Another round of false hope on the way no doubt, looks like some ministerial flatulence by the looks.

You talking about AVZ/ML in general or people concerned about calculating their CGT like they will be able to sell the shares anytime soon?

P. S. I'm just making light of the situation guys don't take me seriously, after all without humour all we have is a bunch of shares we can't sell.