Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 159GZZZM

Purchase price in respect of buy-back

                   For 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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