Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 152

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 152
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 the disposal of their Ordinary Shares in Iris Energy to the extent that the capital proceeds exceed the cost base of their Ordinary
Shares.

A capital loss will
be made where the capital proceeds are less than the cost base of their Ordinary Shares. Where a capital loss is made, capital losses
can only be offset against capital gains derived in the same or later incomes years. They cannot be offset against ordinary income nor
carried back to offset net capital gains arising in earlier income years. Capital losses may be carried forward to future income years
subject to the satisfaction of the Australian loss testing provisions.

Capital Proceeds

The capital proceeds
should generally be equal to any consideration received by the Australian Resident Holder in respect to the disposal of our Ordinary
Share.

Cost base of an Ordinary Shares

The cost base of an
Ordinary Share will generally be equal to the cost of acquiring the Ordinary Share, plus any incidental costs of acquisition and disposal
(i. e. brokerage costs and legal fees).

CGT Discount

The CGT discount may
apply to Australian Resident Holders that are individuals complying Australian superannuation funds or trusts, who have held, or are
taken to have held, their Ordinary Shares for at least 12 months (not including the date of acquisition or date of disposal) at the time
of the disposal of their Ordinary Shares.

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The CGT discount
is:

● One-half if
the Australian Resident Holder is an individual or trustee: meaning only 50% of the capital gain will be included in the Australian Resident
Holder’s assessable income; and

● One-third
if the Australian Resident Holder is a trustee of a complying superannuation entity: meaning only two-thirds of the capital gain will
be included in the Australian Resident Holder’s assessable income.

The CGT discount is
not available to Australian Resident Holders that are companies.

If an Australian Resident
Holder makes a discounted capital gain, any current year and/or carried-forward capital losses will be applied to reduce the undiscounted
capital gain before the relevant CGT discount is applied. The resulting amount forms the Australian Resident Holder’s net capital
gain for the income year and is included in its assessable income.

The CGT discount rules
relating to trusts are complex. Subject to certain requirements being satisfied, the capital gain may flow through to the beneficiaries
in that trust, who will assess the eligibility for the CGT discount in their own right. Accordingly, we recommend trustees seek their