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Corporations Act 2001: Redemption of redeemable preference shares

Published on 31 Aug 06 by THE TAX INSTITUTE

The Tax Institute is concerned that section 254K of the Corporations Act 2001 which requires the redemption of redeemable preference shares out of profits or the proceeds of a new issues of shares made for the purpose of the redemption, renders the redemption of these shares impracticable and also potentially subjects any redemption to anomalous and inequitable tax treatment.

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TAXATION INSTITUTE OF AUSTRALIA

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