ATO Class Ruling Announcement

Invex Therapeutics Ltd (Invex, ASX: $IXC) has received a Class Ruling (CR 2024/17) from the Australian Taxation Office (ATO) regarding the $0.14 per share return of capital announced on 31 October 2023 and paid on 18 December 2023. The ruling confirms that no part of the capital return will be assessable as a dividend for Australian taxation purposes for Invex shareholders.

ATO Class Ruling Details

The ATO Class Ruling (CR 2024/17) states that the capital return received from Invex on the Payment Date is not considered a dividend as defined in the Income Tax Assessment Act 1936. It also provides guidance on the capital gains tax consequences for shareholders who received the return of share capital, along with specific details on the scheme and its application from 1 July 2023 to 30 June 2024.

Summary of ATO Class Ruling

The ATO's Class Ruling (CR 2024/17) confirms that the return of capital by Invex Therapeutics will not be assessable as a dividend for Australian taxation purposes for shareholders. The ruling also outlines the capital gains tax consequences and provides specific details on the scheme's application. Shareholders are advised to consult their tax adviser for potential tax consequences. This ruling reflects Invex's commitment to transparent and compliant financial operations, ensuring clarity for its shareholders regarding the tax treatment of the capital return.