INCOME TAX ASSESSMENT ACT 1936

PART III - LIABILITY TO TAXATION  

Division 16K - Effect of buy-backs of shares  

Subdivision A - Interpretation  

SECTION 159GZZZM   159GZZZM   PURCHASE PRICE IN RESPECT OF BUY-BACK  


For the purposes of this Division, the purchase price in respect of a buy-back of a share is:


(a) if the seller has received or is entitled to receive an amount or amounts of money as a result of or in respect of the buy-back - that amount or the sum of those amounts; or


(b) if the seller has received or is entitled to receive property other than money as a result of or in respect of the buy-back - the market value of that property at the time of the buy-back; or


(c) if the seller has received or is entitled to receive both an amount or amounts of money and property other than money as a result of or in respect of the buy-back - the sum of that amount or those amounts and the market value of that property at the time of the buy-back.


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