Business Services Industry
PM's tax fix for rights issues.
Australasian Business Intelligence, June, 2007
Byline: Fleur Anderson
Jun 25, 2007 (The Australian Financial Review - ABIX via COMTEX) -- The Australian Government will restore the taxation status of rights issues. The Australian Taxation Office (ATO) ran a six-year test case that led to a decision by the High Court in February 2007 and an ATO class ruling in March. The decisions meant that investors who participated in rights issues in 2006-07 will have to pay tax on them. On 26 June, the Government will announce amendments to income tax law that overrule the decisions. Shareholders will only have to pay tax on capital gains, as before.
Publication Date: 26 June 2007
AUSTRALIAN TAXATION OFFICE
HIGH COURT OF AUSTRALIA
AUSTRALIA. DEPT OF THE TREASURY
All copyright...
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Most Recent Business Articles
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions
