This session was designed to give a practical update of the current issues and recent developments that impact on returning capital, profits and franking credits to shareholders.
Some of the issues addressed were:
- capital returns (Sec 45B issues etc)
- buy-backs (Board Of Tax review of off-market buy-backs and the ATO's recent Practice Statement)
- the Impact of McNeil's case
- changes to the distribution of unrealised profits and untaxed profits.