Demergers: Class Ruling CR 2007/111 - Publishing and Broadcasting Ltd acquisition and demerger

Class Ruling CR 2007/111 sets out the Commissioner's opinion on the way in which relevant provisions apply to the defined class of entities who take part in the scheme to which the ruling applies.

The class of entities to which CR 2007/111 applies comprises the shareholders of Publishing and Broadcasting Limited (PBL) who:

• participate in the scheme that is the subject of this ruling
• own ordinary shares in PBL and hold those shares on capital account at the time of the commencement of the scheme, and
• are 'residents of Australia' (as that term is defined in subsection 6(1) of the Income Tax Assessment Act 1936) at the time of the scheme.

Class Ruling CR 2007/111 - Income tax: capital gains tax: acquisition of Publishing and Broadcasting Limited by Crown Limited and demerger of Publishing and Broadcasting Limited by Crown Limited.