Australian Taxation Office ruling
On 15 June 2011, the Australian Taxation Office issued a class ruling on the tax implications of Fletcher Building's acquisition of Crane Group Limited (Crane) for former Crane shareholders.
In summary, the class ruling discusses the three main income tax issues for former Crane shareholders arising from the acquisition:
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the tax treatment of the Interim and Special Dividends paid by Crane in February and March 2011;
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the capital gains tax (CGT) treatment upon disposal of their Crane shares; and
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the tax cost base of their new Fletcher Building Limited (FBL) shares.
Class Ruling documents
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Australian Taxation Office Class Ruling (updated 13 July 2011)
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Summary prepared by Fletcher Building, including worked examples
illustrating the tax implications Note: This summary has not been impacted by the addendum issued on 13 July 2011. |
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