Treasury Laws Amendment (2023 Measures No. 1) Act 2023 (101 of 2023)

Schedule 4   Off-market share buy-backs

Part 1   Off-market share buy-backs

Division 1   Main amendments

Income Tax Assessment Act 1936

3   After section 159GZZZP

Insert:

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.