DIS – Cable & Wireless Australia & Pacific Holding BV (in liquidatie) v CofT – ATO accepts FFC decision that the $6.2b Optus buy-back amount was a ‘dividend’ correctly giving rise to the $452m withholding tax
The ATO has issued a Decision Impact Statement on the Full Federal Court decision in Cable & Wireless Australia & Pacific Holding BV (in liquidatie) v FCT [2017] FCAFC 71, which held that an off-market share buy back receipt was a ‘dividend’ to the overseas recipient and that and the withholding tax paid was correctly paid…