Private ruling: Debt and Equity Interests
Published: October 2013

Ruling: Questions at issue | In order to protect the privacy and commercial in-confidence components of this private binding ruling the following summary is provided. | The ruling concerned the following: | 1. Are the 'Buy Back Shares' in XYZ Limited (XYZ) distributed by XY Limited (XY) to its shareholders debt interests pursuant to Division 974 of the Income Tax Assessment Act 1997 (ITAA 1997)? | The Commissioner has ruled that: | 1. Yes. The 'Buy Back Shares' in XYZ distributed by XY to its shareholders are debt interests pursuant to Division 974 of the ITAA 1997.