Steven Barrett
Joined: 12/2/2024
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CGT cost base for units in a hedge fund as part of a bonus award
I worked for an investment firm in Hong Kong in 2013. At the beginning of 2014 I received a bonus in the form of cash on which I paid HK salary tax. A condition of the bonus was that part of the cash bonus was to be re-invested in units of the investment fund I worked for. The firm paid the subscription amount in cash to the fund administrator on my behalf but I had to complete and submit a subscription form. Is the cost base on which any subsequent CGT will be calculated based on the price that I subscribed to the fund units? Or do I have a zero cost base as I didn't physically make the cash payment .... the cash was paid by my employer on my behalf?