What are the tax consequences of my participation in the buy-back?

There are two tax consequences:

  • The dividend must be included in your assessable income for 2005-06 income year.
  • The sale of your shares (to Westpac) is a capital gains tax event that may have resulted in a capital gain (or capital loss) for you. Depending on the outcome and your circumstances, you may have to include some details on your 2005-06 tax return.
    Last modified: 14 Dec 2007QC 18802