Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 16K - Effect of buy-backs of shares  

Subdivision D - On-market purchases  

SECTION 159GZZZR   159GZZZR   NO PART OF ON-MARKET PURCHASE PRICE IS A DIVIDEND  

For the purposes of this Act, where a buy-back by a company of a share is an on-market purchase, no part of the purchase price in respect of the buy-back of the share is taken to be a dividend.