Private ruling: Return of capital
Published: June 2014
Ruling period: 1 July 2013 to 30 June 2014
Date scheme commenced: Questions at issue

Ruling: Q1: Will any part of the Return of Capital constitute a dividend as defined in subsection 6(1) of the Income Tax Assessment Act 1936 (ITAA 1936)? | A1: No | Q2: Will the Commissioner make a determination under section 45B of the ITAA 1936 that section 45C of the ITAA 1936 will apply to any part of the Return of Capital? | A2: No


Relevant legislative provisions: Income Tax Assessment Act 1936 subsection 6(1) | Income Tax Assessment Act 1936 section 45B | Income Tax Assessment Act 1936 section 45C


In order to protect the privacy and commercial in-confidence components of this private binding ruling the following summary is provided. | The taxpayer requested a ruling based on the following questions: | 1. Will any part of the Return of Capital constitute a dividend as defined in subsection 6(1) of the ITAA 1936? | The Commissioner has ruled that: 1. No, the Commissioner confirms that no part of the Return of Capital will constitute a dividend as defined in subsection 6(1) of the ITAA 1936. | 2. No, the Commissioner confirms that a determination will not be made under section 45B of the ITAA 1936 that section 45C of the ITAA 1936 will apply to any part of the Return of Capital.