ATO quashes Brickworks, Soul Patts demerger

By AAP

Washington H Soul Pattinson chairman Robert Millner said the company's decision to seek a ruling from the tax office had spared shareholders an unexpected tax bill. "Had we not engaged early with the ATO, shareholders may have voted on a transaction without fully understanding the potential consequences of the proposal," he said. "Significant time and money has been spent analysing this proposal which is incapable of implementation as envisaged by Carnegie and Perpetual.

Read more here: Business Spectator

    

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