ASIC works to ensure registered liquidators comply with obligations An ASIC review has found that while registered liquidators are mostly doing the right thing when complying with their lodgement and publication obligations, there is room for improvement. 13 June The Government has introduced new laws that change the way ASIC is funded.
Regulated entities will receive an invoice for ASIC’s regulatory services delivered in the prior year.
97–248, § 222(e)(1)(B), struck out “partial or” before “complete liquidation”.
Some are clearly wrong, but we have made no attempt to correct them, as we have no way guess correctly in all cases, and do not wish to add to the confusion.
Won't I need to show the FMV on a schedule to each s/h showing their new basis of the assets received?
Responses to your follow-up questions:1) Yes on the 1099-DIV presentation2) No.
People come to Turbo Tax Answer Xchange for help and answers—we want to let them know that we're here to listen and share our knowledge.
Find out what this means for registered liquidators.
00 cash and 00 FMV of office equipment was distributed (liquidating) to two 50/50 s/h's.
However, the liquidation value of assets is typically only a fraction of the fair market value because liquidations often happen under time constraints that give the buyer the advantage.
Once you've turned your equipment, inventory and client lists into cash, you can't just shut the doors and pocket the money.
It involves valuing the company's tangible and intangible property, preparing it for sale and choosing the best sales method for each property type.