Tax System Improvement

Allow TFNs to be transferred in a demerger

Under current arrangements shareholders of listed companies are asked to provide their TFN to the investee company. If shareholders do not provide their TFN, the company must withhold tax at the highest marginal rate on any non-fully franked dividends paid to these shareholders. In a demerger situation, the demerging company is not permitted to transfer the TFN of a shareholder that will also have or has a shareholding ...more »

Submitted by (@moderatorboardoftaxationsecretariat)

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