Income Tax – Whether an off-market share cancellation is made in lieu of the payment of a dividend

This interpretation statement considers the application of s CD 22(6) and (7) of the Income Tax Act 2007 in relation to the factors to be taken into account in determining whether an off-market cancellation of shares is made in lieu of the payment of a dividend.

Notes | Pitopito kōrero: This statement updates the August 1999 interpretation statement, IS2966: Exclusion From The Term “Dividends”—Whether Distribution Made In Lieu Of Dividends’ Payment.