NavraInvest Structured Property Fund

[Sim]

If there are any Somersoft members who are unitholders in the NavraInvest Structured Property Fund, please be aware that I have created a private forum over on Shares Q&A for discussion about the proposal to change the Responsible Entity and structure of the fund.

There is already a discussion area for NavraInvest shareholders, this new section is for unitholders in the Structured Property Fund.

Please note that I'm not particularly interested in starting new discussion here on Somersoft about NavraInvest or Steve Navra. This is just a notice for information purposes.

 

[babushka]

Hi Sim

I am a shareholder in the NavraInvest - which is now in voluntary administration. I have not been able to find much info about the tax implications for this. Could you please direct me to where I can find out if I will be able to claim any tax loss on all my NI shares? Thanks.

 

[Sim]

Hi babushka - my understanding is that you will not be able to claim a capital loss on the shares until the wind up of the company is complete - which hasn't happened yet.

So no tax write-off for 2011-12, sorry.

I am assuming we will receive formal notification of the company being wound up in due course - possibly later this year or early next year, I'm not sure.

 

[babushka]

Thanks, Sim, for your reply - which helps to further my understanding.

 

[redwing]

Though I no longer hold Navra Retail Funds and bailed out a while before they liquidated, I still had them for a brief part of last FY and recently received an update from the liquidator dated 20th September and detailing Capital Gains/Losses

This led me to the Navra site for a look where I read that the Australian Fund was terminated this year, they still have the Navra Structured Property Fund and Navra Asia Pacific Growth Fund running

 

[babushka]

Thanks, redwing, for the info. I will check out as well.