PET phoslock environmental technologies limited

Here are some of the administrative issues with the bonus share...

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    Here are some of the administrative issues with the bonus share issue:
    https://www.ato.gov.au/General/Capital-gains-tax/Shares,-units-and-similar-investments/Bonus-shares/

    I am concerned about their statement:
    “Bonus shares may also be assessed as a dividend where:
    • the bonus shares are being substituted for a dividend to give a tax advantage,”

    It seems clear from the announcement that the decision to give bonus shares was based on tax considerations.
    Who makes a decision as to how it is assessed?  The company, the shareholder or the ATO?
 
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