Domain Holdings Australia (ASX:DHG) has received a draft class ruling from the Australian Taxation Office (ATO) confirming the expected tax treatment of its proposed acquisition by CoStar Group through its subsidiary Andromeda Australia by way of a scheme of arrangement, according to a Tuesday Australian bourse filing.
The company requested the class ruling to confirm the tax implications of the scheme and special dividend, with the draft ATO ruling aligning with the treatment outlined in the scheme booklet, the filing said.
The draft ruling is not binding, and only the final class ruling, expected after the Aug. 27 implementation date, can be relied on by shareholders, the filing added.
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