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cgt event

Discussion in 'Introductions' started by southw, 28th Nov, 2014.

  1. southw

    southw New Member

    Joined:
    28th Nov, 2014
    Posts:
    2
    Location:
    adelaide,sa
    Hello, my daughter has some shares that were bought for her when under 18 and hence in both names. She now wishes to have the shares transfered back to me and have the money they would be worth at current market rates paid to her If I were to do this, what are the tax implications? Is this a Capital Gains Tax event for her and would require a new cost base to be calculated for me or is it considered just a rollover ?
     
  2. Terryw

    Terryw Well-Known Member

    Joined:
    9th Jun, 2006
    Posts:
    653
    Location:
    Sydney
    She owns shares and wants to sell them to you? CGT at market value.
     
  3. southw

    southw New Member

    Joined:
    28th Nov, 2014
    Posts:
    2
    Location:
    adelaide,sa
    Ok,thanks.