So what is the tax treatment for shareholder? Does anyone...

So what is the tax treatment for shareholder? Does anyone know?

@pjb63

The only previous experience I have with this sort of capital return is with stapled securities in the infrastructure space (TCL).

In that instance, the distribution component regarded as “return of capital” is not assessable as income for tax purposes. However the corresponding amount reduces the cost base of the securities owned, so it does affect the capital gain tax liability crystallised when the shares are eventually sold.

I would expect a similar treatment for this corporate action, but please don’t take my word for it because I do not know for sure; we’ll just have to wait for confirmation from the Company’s announcements.

Cheers