you hit the nail on the head. cannot consistently do "capital returns" which as you know is tax deferred until you sell.
ATO will probably not allow it. It can be seen as a frowned upon form of tax err "minimisation" because it looks and feels exactly like an unfranked dividend.
so what do we do while watching the cash balance swell up and wishing that cash is in our wallets?
I think the answer is patience. The board is more keen than you and I to get that $$ into their little (digital) wallets. Worst case, if I need to wait 12 more months to get tax efficient capital returns, so be it.
Does anyone really want unfranked dividends? Not me.
Ann: Quarterly Activities Report, page-12
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