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Commissioner of Taxation v Consolidated Media Holdings Ltd

[2012] HCA 55
Case number
S228/2012
Before
French CJ, Hayne, Crennan, Bell, Gageler JJ
Catchwords

Taxation – Income tax – Share buy-back – Off-market purchase – Company's financial record of transaction – Whether dividend or capital gain – Whether purchase price "debited against amounts standing to the credit of … the company's share capital account" – Meaning of "share capital account" – Relevance of legislative history.

Words and phrases – "account", "buy-back", "combined share capital account", "debited against amounts standing to the credit of", "financial records", "financial statements", "purchase price", "share capital account".

Corporations Act 2001 (Cth) – Pt 2J.1 of Ch 2J, Pt 2M.2 of Ch 2M.

Income Tax Assessment Act 1936 (Cth) – ss 6D, 159GZZZP.

Files
55.rtf (209.14 KB)
55.pdf (106.19 KB)