24/05/2017

When is a share capital account not a share capital account for tax purposes?  Why, when it is an equity account, of course!  So said the Full Federal Court recently in Cable & Wireless Australia & Pacific Holding BV (in liquidatie) v FCT in the context of share buybacks.  And on this topic, it is worth revisiting some basics on the buyback of redeemable preference shares (RPS).

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