Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 16K - Effect of buy-backs of shares  

Subdivision C - Off-market purchases  

SECTION 159GZZZPA  

159GZZZPA   NO PART OF OFF-MARKET PURCHASE PRICE IS A DIVIDEND IF THE COMPANY IS A LISTED PUBLIC COMPANY  
For the purposes of this Act, where a buy-back of a share by a listed public company is an off-market purchase, no part of the purchase price in respect of the buy-back of the share is taken to be a dividend.