Private ruling: Share capital account
Date of advice: 18 March 2025
Published: 19 May 2025
Ruling period: Income year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Does a reserve account in the audited financial reports of Company A form part of Company A's 'share capital account' as defined in section 975-300 of the Income Tax Assessment Act 1997 ? | A1: Yes.

Relevant facts and circumstances: Company A is a company incorporated in Australia. Company A issued ordinary shares for $X per share. For accounting purposes, Company A allocated part of the issue price of the shares to a reserve account.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 975-300