Anyone got responses from the ATO about how to treat the proceeds of the class action? I phoned them and got a non-committal 'We haven't worked it out because nobody has asked us.'
There's a truly irritating form that I need to fill out to get it sorted, which will probably take a year or two (the decision, not the form). In the interim, I'm just declaring it as a capital gain in the current year, but I'd be interested if anyone else has got a response from the ATO.
Jenny
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tax treatment of class action proceeds
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