Burt acquired shares in a Hong Kong listed company in August 1998 and a London listed...
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Burt acquired shares in a Hong Kong listed company in August 1998 and a London listed company in February 2000. He does not have any records of the cost of these shares. He is trying to calculate whether his overseas share portfolio is below the minimum threshold for the application of the foreign investment fund (FIF) rules for individuals. REQUIRED: Burt understands that a rule exists for investments acquired before a specific date where the investor has no record of the cost of the investment. Burt asks you to explain this rule and its application to him. Burt acquired shares in a Hong Kong listed company in August 1998 and a London listed company in February 2000. He does not have any records of the cost of these shares. He is trying to calculate whether his overseas share portfolio is below the minimum threshold for the application of the foreign investment fund (FIF) rules for individuals. REQUIRED: Burt understands that a rule exists for investments acquired before a specific date where the investor has no record of the cost of the investment. Burt asks you to explain this rule and its application to him.
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Answer rating: 100% (QA)
Solution The rule you are referring to is the preMay 1997 rule for foreign investment fund FIF purpo... View the full answer
Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
Posted Date:
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