With less than a month to go of the 2019-20 financial year, time is running out for share market investors to minimise their tax bill.

One way is by selling stocks investors have made a loss on and claiming them as an offset against any capital gains made. However, they cannot be directly claimed back in a similar way to tax-deductible expenses.

Of course, even if you do not have capital gains to claim losses against, you may want to “get out” to minimise losses before a selling spree begins.

How can you tell what stocks may fall victim to this? An easy target is small caps that have made the biggest losses in the financial year.

Here are the worst performing ASX small cap stocks this financial year (excluding recapitalised stocks):

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Code Name Price 1 July 2019 Price 2 June 2020 % Return Market Cap
GID GI DYNAMICS INC-CDI 0.030 0.002 -93 3.66M
EXL ELIXINOL GLOBAL LTD 3.86 0.240 -94 41.60M
HRR HERON RESOURCES LTD 0.58 0.047 -92 20.15M
TGO TRIMANTIUM GROWTHOPS LTD 0.520 0.045 -91 6.84M
ATS AUSTRALIS OIL & GAS LTD 0.265 0.028 -89 28.59M
ANW AUS TIN MINING LTD 0.009 0.001 -89 2.83M
PNC PIONEER CREDIT LTD 2.600 0.290 -89 18.39M
BIQ BUILDINGIQ INC-CDI 0.045 0.006 -87 2.24M
JXT JAXSTA LTD 0.230 0.031 -87 7.66M
CPH CRESO PHARMA LTD 0.500 0.062 -86 17.13M
OEL OTTO ENERGY LTD 0.047 0.007 -85 33.57M
ARQ ARQ GROUP LTD 0.640 0.099 -85 11.97M
LNG LIQUEFIED NATURAL GAS LTD 0.260 0.043 -83 24.80M
SW1 SWIFT MEDIA LTD 0.229 0.041 -83 17.62M
STM SUNSTONE METALS LTD 0.040 0.007 -82 15.47M
BLG BLUGLASS LTD 0.137 0.025 -82 19.26M
LRS LATIN RESOURCES LTD 0.022 0.004 -82 1.46M
OSP OSPREY MEDICAL INC-CDI 0.075 0.014 -81 18.00M
ONE ONEVIEW HEALTHCARE PLC-CDI 0.250 0.047 -81 8.14M
CGB CANN GLOBAL LTD 0.037 0.007 -81 23.38M
SF1 STEMIFY LTD 0.090 0.018 -80 2.83M
FAR FAR LTD 0.075 0.015 -80 149.68M
ENE ENEVIS LTD 0.200 0.040 -80 2.66M
E2E EON NRG LTD 0.005 0.001 -80 769.89k
SWM SEVEN WEST MEDIA LTD 0.455 0.102 -80 141.50M
ECT ENVIRONMENTAL CLEAN TECHNOLOGIES 0.010 0.002 -79 19.20M
UUV UUV AQUABOTIX LTD 0.007 0.002 -79 1.14M
HWH HOUSTON WE HAVE LTD 0.150 0.032 -78 8.51M
A3D AURORA LABS LTD 0.320 0.071 -78 8.33M
CFE CAPE LAMBERT RESOURCES LTD 0.009 0.003 -78 3.10M
TYM TYMLEZ GROUP LTD 0.152 0.043 -78 5.02M
SE1 SENSERA LTD 0.120 0.030 -77 8.70M
DCG DECMIL GROUP LTD 0.355 0.140 -77 33.36M
VOL VICTORY OFFICES LTD 2.200 0.510 -77 20.86M
VR8 VANADIUM RESOURCES LTD 0.072 0.017 -76 6.36M
CXM CENTREX METALS LTD 0.110 0.026 -76 8.21M
KAS KASBAH RESOURCES LTD 0.050 0.012 -76 1.62M
MCM MC MINING LTD 0.665 0.160 -76 22.57M
OVT OVATO LTD 0.070 0.017 -76 12.44M
ABT ABUNDANT PRODUCE LTD 0.065 0.016 -75 1.36M
FGO FLAMINGO AI LTD 0.006 0.001 -75 1.68M
QFY QUANTIFY TECHNOLOGY HOLDINGS 0.006 0.0015 -75 3.01M
TPS THREAT PROTECT AUSTRALIA LTD 0.180 0.046 -75 10.84M
BMG BMG RESOURCES LTD 0.012 0.003 -75 1.76M

 

Some stocks on this list have witnessed problems specific to their companies.

For instance construction provider Decmil (ASX:DCG) made a $75 million half yearly loss after money stopped flowing from a couple of clients.

X-ray dye reduction tech stock Osprey Medical (ASX:OSP) has been bleeding cash while struggling to make money from its technology.

Pot stock Elixinol (ASX:EXL) has struggled with cash flow problems and a revolving door of executives.

Others are in industries that have been decimated pre-COVID-19. For example, semiconductor makers globally struggled throughout 2019 due to the US-China trade war and have been further hit by factory shut downs.

BluGlass (ASX:BLG) is one such stock, down 82 per cent in the last 11 months.

While oil prices are recovering from the brief plunge into negative territory, they are still below levels seen prior to 2019, impacting small caps such as Liquified Natural Gas (ASX:LNG) and Otto Energy (ASX:OEL).

 

The more recently hit

While the above list of stocks are the most extreme losses, almost all stocks plunged between late February and late March as markets came to terms with the COVID-19 disruption.

Many stocks have been on the rise again but others have failed to regain ground. 34 stocks are still sitting at least 60 per cent below their February 20 price, despite the market climbing for 2 months.

Code Name Price 20 Feb Price 2 June % Return Market Cap
PNC PIONEER CREDIT LTD 1.730 0.290 -83 18.39M
ENE ENEVIS LTD 0.210 0.040 -81 2.66M
GID GI DYNAMICS INC-CDI 0.010 0.002 -80 3.66M
88E 88 ENERGY LTD 0.024 0.006 -75 42.66M
CPT CIPHERPOINT LTD 0.063 0.016 -75 628.49k
OEL OTTO ENERGY LTD 0.027 0.007 -74 33.57M
OOO BETASHARES CRUDE OIL 13.720 3.670 -73 240.59M
ALG ARDENT LEISURE GROUP LTD 1.355 0.435 -69 201.48M
JXT JAXSTA LTD 0.100 0.031 -69 7.66M
EMU EMU NL 0.045 0.014 -69 4.17M
LNG LIQUEFIED NATURAL GAS LTD 0.135 0.043 -68 24.80M
VOL VICTORY OFFICES LTD 1.600 0.510 -68 20.86M
TPS THREAT PROTECT AUSTRALIA LTD 0.140 0.046 -68 10.84M
A3D AURORA LABS LTD 0.220 0.071 -68 8.33M
OVT OVATO LTD 0.052 0.017 -67 12.44M
E2E EON NRG LTD 0.003 0.001 -67 769.89k
CFE CAPE LAMBERT RESOURCES LTD 0.006 0.003 -67 3.10M
LIN LINDIAN RESOURCES LTD 0.035 0.013 -66 6.98M
ONE ONEVIEW HEALTHCARE PLC-CDI 0.135 0.047 -65 8.14M
FRX FLEXIROAM LTD 0.037 0.013 -65 3.97M
MCM MC MINING LTD 0.450 0.160 -64 22.57M
CBY CANTERBURY RESOURCES LTD 0.210 0.081 -64 6.64M
DXN DXN LTD 0.035 0.014 -63 13.66M
ARN ALDORO RESOURCES LTD 0.230 0.087 -62 1.88M
UCW UCW LTD 0.240 0.092 -62 4.60M
LHM LAND & HOMES GROUP LTD 0.013 0.005 -62 10.81M
NOR NORWOOD SYSTEMS LTD 0.065 0.025 -62 5.25M
BYE BYRON ENERGY LTD 0.350 0.135 -61 5.91M
HIL HILLS LTD 0.455 0.180 -60 123.83M
GEV GLOBAL ENERGY VENTURES LTD 0.150 0.059 -60 41.76M
LOM LUCAPA DIAMOND CO LTD 0.120 0.047 -60 23.20M
CLZ CLASSIC MINERALS LTD 0.002 0.002 -60 30.27M
PKD PARKD LTD 0.080 0.032 -60 8.18M

 

Some of these stocks may recover as COVID-19 restrictions are eased. But an immediate ‘return to norm’ is far from likely and the impact will be felt for months to come.

While all tourist stocks were hit, theme park operator Ardent Leisure (ASX:ALG) has copped the greatest hit.

Many theme parks are expected to open when restrictions are eased, but the company has not provided to the ASX an indication about when this will occur.

US-domiciled med-tech GI Dynamics (ASX:GID), which struggled to regain lost ground after the COVID-19 crash, announced in early May it would be delisting.

Aged-care focused tech play Hills Holdings (ASX:HIL) told shareholders in March it anticipated demand to plunge, at least temporarily, as budgets were tightened.

Since then it has only updated the ASX once, in late April, where it reiterated the immediate outlook appeared deeply uncertain and it would do everything to protect the business.