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20.0¢ horizon oil limited

Ann: Quarterly Activities Report, page-45

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tanon

3,119 Posts.

88

29/07/22

22:11

Post #: 62823080
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Originally posted by gdn001: ↑

tannon,
Not advice, but my understanding is the same as yours.
The problem is that the ATO can deem that a capital return is an unfranked dividend.
The process is that a company declares a capital return.
The company asks the ATO for a class ruling.
The ATO gives it a tick, or says no, this is an unfranked dividend.
First capital return is probably OK in most instances, i.e., HZN's $0.03 capital return last year.
Subsequent capital returns are much, much more likely to be deemed an unfranked dividend by the ATO.
The ATO have (deliberately?) made their decision making process opaque, i.e., there aren't any concrete guidelines.
The ATO has issued guidance on factors that they consider, but the tax industry still aren't confident on what is and isn't a capital return.
Most cases appear different shades of grey.
.

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Ok thank you gdn. So there is more than one aspect to this i.e. firstly ATO rule on whether it is a valid company capital return and if it is a valid capital return the ATO rule on investor.

HZN Price at posting: 14.0¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 20.0¢		Change 0.000(0.00%)		Mkt cap ! $324.6M

Open	High	Low	Value	Volume
20.0¢	20.5¢	19.5¢	$176.7K	881.6K

Buyers (Bids)

No.	Vol.	Price($)
25	1185192	19.5¢

Sellers (Offers)

Price($)	Vol.	No.
20.0¢	155115	2

View Market Depth

No.	Vol.	Price($)
25	1185192	0.195
19	1866476	0.190
12	818619	0.185
14	856108	0.180
28	944068	0.175

Price($)	Vol.	No.
0.200	155115	2
0.205	1343046	10
0.210	2594939	13
0.215	331792	6
0.220	277500	3

Last trade - 15.16pm 19/07/2024 (20 minute delay)

HZN (ASX) Chart