Notice Type
Notice Title

Notice of Product Ruling

1. This is a notice of a product ruling made under section 91F of the Tax Administration Act 1994.
2. Product ruling No. 01/34 was issued on 20 November 2001. It relates to the proposed return to shareholders of surplus capital by way of an off-market pro rata whole share repurchase and cancellation in the ratio of one share for every eight shares at a stated repurchase price per share, and various sections of the Income Tax Act 1994. It will appear in Inland Revenue's Tax Information Bulletin, Vol. 14, No. 1, of January 2002.
3. From 26 January 2002, a copy of the ruling may be obtained by writing to the Assistant General Manager (Adjudication & Rulings), National Office, Inland Revenue, P.O. Box 2198, Wellington.
MARTIN SMITH, General Manager (Adjudication
& Rulings).