Bravura Solutions (ASX:BVS) obtained a draft class ruling from the Australian Tax Office (ATO) on the proposed capital return of AU$73.2 million to shareholders, according to a Friday filing with the Australian bourse.
The company applied for a class ruling to confirm the income tax consequences of the proposal for shareholders holding their shares on capital account for tax purposes, the filing said.
The ruling is not binding on the ATO and may not be relied upon until a final ruling is issued, according to the filing.
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