Hi all,
It's been a while since I last posted. Busy, busy.
I've just started on my tax return and have run into a question. This year I transferred some westpac shares from my name into my wife's name. These are shares I bought way back in Dec, 1995. We filled in the transfer form on 27 June, 2003 and used the share price at the close of that day as the price of the shares in the transfer. On the transfer form, we specified the 27 June, 2003 as the date the transfer occurred.Then we mailed the form to Computershare.
Computershare ended up sending me a form for this transfer. On the form they sent to us, it says they transfered the shares on 7 july, 2003 (NOT 27 June).
My question is this...which financial year should I file the CGT triggered by this transfer? Should it be for the year ending 2003, or the year ending 2004?
I reckon it should be the year ending 2003 (ie, the tax return I'm currently filling out) as 27 June is the date we specified the transfer occured. The 7 July, 2003 just sounds like the date Computershare finally got around to updating their registry.
Can anyone help?
Thanks in advance
John
It's been a while since I last posted. Busy, busy.
I've just started on my tax return and have run into a question. This year I transferred some westpac shares from my name into my wife's name. These are shares I bought way back in Dec, 1995. We filled in the transfer form on 27 June, 2003 and used the share price at the close of that day as the price of the shares in the transfer. On the transfer form, we specified the 27 June, 2003 as the date the transfer occurred.Then we mailed the form to Computershare.
Computershare ended up sending me a form for this transfer. On the form they sent to us, it says they transfered the shares on 7 july, 2003 (NOT 27 June).
My question is this...which financial year should I file the CGT triggered by this transfer? Should it be for the year ending 2003, or the year ending 2004?
I reckon it should be the year ending 2003 (ie, the tax return I'm currently filling out) as 27 June is the date we specified the transfer occured. The 7 July, 2003 just sounds like the date Computershare finally got around to updating their registry.
Can anyone help?
Thanks in advance
John