a smsf one member in pension mode is winding up . There are 2 shares in listed companies remaining to be
either sold or transferred as in specie.
As the shares were purchased some 10 plus years ago , the accountant is unable to establish original cost price.
The asset is shown in records as market value as at 2022 close. The resulting loss or gain may not be an issue as cap gain will not be required for tax purpose. one of the shares is in a company based overseas.
suggestions?
Hi Mike
In my view this is not an issue if the Fund remains 100% in pension mode.
The Fund's accounts are special purpose financial statements so there is no requirement to have to disclose the capital gain in the financial statements.
Thanks
The Auditors Institute