Company: GVH
Filing Date: 2025-04-15
Form Type: DRS
Source: 0001641172-25-004806
Chunk: 93

Company: Globavend Holdings Ltd
Filing Date: 2025-04-15
Form: DRS
Chunk 93
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 gain on 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 with respect to the disposal of our Ordinary Shares.

Cost base of an Ordinary Share

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).

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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.

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 own independent