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1.39%

18.3¢ horizon oil limited

Ok thank you gdn. So there is more than one aspect to this i.e....

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tanon

3,114 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 18.3¢		Change 0.003(1.39%)		Mkt cap ! $288.0M

Open	High	Low	Value	Volume
18.0¢	18.5¢	17.5¢	$88.99K	492.3K

Buyers (Bids)

No.	Vol.	Price($)
6	205277	18.0¢

Sellers (Offers)

Price($)	Vol.	No.
18.5¢	1518377	11

View Market Depth

No.	Vol.	Price($)
6	205277	0.180
31	1161123	0.175
49	2508684	0.170
25	1771556	0.165
36	1386320	0.160

Price($)	Vol.	No.
0.185	1518377	11
0.190	842200	12
0.195	409409	4
0.200	252000	3
0.210	47500	1

Last trade - 15.43pm 01/07/2024 (20 minute delay)

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