ATO ruling on proposed capital return
AMP Limited has today received a class ruling from the Australian Taxation Office on its proposed capital return on behalf of its shareholders.
The ATO has confirmed that the capital return will be treated as a reduction in the cost base of AMP shares, and not as a dividend, for Australian income tax purposes.
On 15 February 2007, AMP announced a A$750 million capital return. Shareholders are therefore set to receive a capital return of 40 cents a share.
Shareholders will have the opportunity to vote on the proposed capital return at the Annual General Meeting on 17May 2007. If approved, payment will be made in mid June
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40c per share capital return ex 17 may
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