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.
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