Income Tax Assessment Act 1936
PART III
-
LIABILITY TO TAXATION
Division 16K
-
Effect of buy-backs of shares
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.
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.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.