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urgent help use australia law 9. Frank Smith owns 2000 shares in Boom Pty Ltd. His cost base is $12 per share. and the current
urgent help
use australia law
9. Frank Smith owns 2000 shares in Boom Pty Ltd. His cost base is $12 per share. and the current market value is $20 per share. On 12 March 2014, Boom Pty Ltd decided to buy-back Frank Smith's shares for $21 per share. The buy-back consideration was debited $9 against the share capital account and $12 against accumulated profits. Discuss the income tax implications of the off-market share buy-back for Frank Smith for the 2017/2018 tax year ignoring the CGT implications)Step by Step Solution
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