Dear Kenny, Thanks so much for your very helpful reply below.
With APNIC's AUD 36.5M total assets, it's indeed prudent to avoid or minimize any capital tax event. Cheers, p. On Mon, Jul 24, 2023 at 8:31 AM Kenny Huang, Ph.D. <huang...@gmail.com> wrote: > Hi Pindar, > > T > > here’s many different scenarios (and scenarios within scenarios!) that > could result in significant costs and tax events for APNIC and therefore > the Members. > > In the situation facing APNIC, we identified that a transfer of Members > out of APNIC Pty Ltd to a new entity could have resulted in a capital tax > event on part of APNIC’s assets or, in some cases, on APNIC’s total net > assets (of AUD 36.5M as at June 2023) that would severely undermine APNIC’s > financial stability measure. In our view those costs far outweigh the > benefit at this time. > > I hope that helps. > > > Regards > > > Kenny Huang > > On Tue, Jul 18, 2023 at 12:46 PM Pindar Wong <pindar.w...@gmail.com> > wrote: > >> >> >> On Tue, Jul 18, 2023 at 9:04 AM Kenny Huang Kenny Huang < >> huang...@gmail.com> wrote: >> >>> [snip] >>> >> >> >>> Another challenge is the financial impact of moving the Members to a new >>> entity. Even without >>> transferring the property/assets of APNIC Pty Ltd, this would have >>> resulted in a significant >>> tax event for the organisation which would not have been in the >>> interests of Members. >>> >>> >> Hi Kenny, >> >> Thanks for your reply, can I trouble you to expand on the above --- e.g. >> what is the nature of this tax event and what would be its financial >> magnitude to the membership? >> >> Thanks, >> >> p. >> >>
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