CR 2012/32 – Westpac Convertible preference shares produce dividends taxed as such [R10]

The ATO on Wed 16.5.2012, issued Class Ruling CR 2012/32 (Westpac Banking Corporation – Convertible Preference Shares (CPS)). It applies from 23 March 2012 to 30 June 2020. The Ruling broadly states that dividends paid in respect of Westpac CPS will be included in the assessable income of investors under s 44(1)(a)(i) of the ITAA 1936.

[LTN 93, 16/5]