The ATO on Wed 29.2.2012, issued Class Ruling CR 2012/14 (Oceania Capital Partners Limited: return of capital and off-market share buy-back). It applies from 1 July 2011 to 30 June 2012. Broadly, the Ruling states that the share buy-back was an off-market purchase for the purposes of s 159GZZK of the ITAA 1936. It also states that the return of capital is not a dividend for the purposes of s 6(1) of the ITAA 1936.
[LTN 40, 29/2]