Ann: Dividend/Distribution - PTL, page-13

yes it's a 'return of capital' in one sense but surely (?) because it comes to us as a dividend, we are unable to treat it as a capital gain?

So therefore, no franking (a major benefit of return via a dividend is the franking) AND yet, because it's a dividend unable to 50% discount as might otherwise have been the case if held for >12 months?

So I could be wrong (certainly not an uncommon occurrence) but on the basis of the above, isn't this ultimately a (bad) blunder by company re the tax burden?

Or perhaps I'm being too simplistic?

DJ