Income Tax Assessment Act 1936
View history note
Hide history noteFor the purposes of this Division, the purchase price in respect of a buy-back of a share is:
(a) if the seller has received or is entitled to receive an amount or amounts of money as a result of or in respect of the buy-back - that amount or the sum of those amounts; or
(b) if the seller has received or is entitled to receive property other than money as a result of or in respect of the buy-back - the market value of that property at the time of the buy-back; or
(c) if the seller has received or is entitled to receive both an amount or amounts of money and property other than money as a result of or in respect of the buy-back - the sum of that amount or those amounts and the market value of that property at the time of the buy-back.
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