CR 2016/48 – NAB Capital Notes 2 – franking credits on convertible notes (streaming, s177EA etc.); not traditional securities; CGT on conversion; no s45A/B capital benefits; etc
On Wednesday 6.7.2016, the Commissioner issued the following Class Rulings: CR 2016/48: National Australia Bank Limited – issue of NAB Capital Notes 2. It applies to Australian resident holders of NAB capital Notes 2. It applies from 1 July 2015 to 30 June 2025. [LTN 128, 6/7/16] Extract from Ruling Acquisition time of the NAB Capital Notes 2 64. Holders…