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Exposure Draft - Taxation of Share Buy Backs


Thursday, 20 October 2011

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As part of the 2009-10 Budget, the Government announced that it would implement recommendations made by the Board of Taxation to improve the taxation arrangements relating to the buy back of shares and non share equity interests, with effect from the date of Royal Assent of the amending legislation.

A discussion paper relating to the implementation of the proposed changes was released on 1 June 2009. The exposure draft material has been developed taking into account a range of technical comments made by stakeholders. The exposure draft material has been released as part of the public consultation process to provide interested parties with an opportunity to comment.

The draft Bill provides the legislative framework for the changes to the taxation arrangements relating to the buy back of shares and non share equity interests. The Explanatory Memorandum explains, in broad terms, how the changes will be implemented.

Making a submission

Interested parties are invited to comment on the exposure draft. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Friday, 2 December 2011

Address written submissions to:

The Manager
Company Tax Unit
Business Tax Division
The Treasury
Langton Crescent

Email: companytax@treasury.gov.au

For enquiries, please call Tony Regan on (02) 6263 3334 or Lillian Howes on (02) 6263 3231.

Documents Available:

Acrobat (PDF) documents

 Acrobat (PDF)

Exposure Draft – Taxation of share buy backs  70.33kb
Exposure Draft – Taxation of share buy backs – Explanatory Memorandum  98.16kb

Microsoft Word (DOC) documents

 Microsoft Word (DOC)

Exposure Draft – Taxation of share buy backs  98.50kb
Exposure Draft – Taxation of share buy backs – Explanatory Memorandum  325.50kb

Related Items:

Discussion Paper: Improving the Taxation Treatment of Off-Market Share Buybacks - 1/06/2009
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