SUN 0.28% $10.84 suncorp group limited

Taxation on Convertible Notes

  1. 136 Posts.
    The convertible notes of Suncorp prior to conversion were known as SMPG. The Australian Taxation Office have issued a class ruling that (effectively) says $6.24 per share is to be included in ones taxable income for the y/e 30 June, 2002.

    Does anyone have any differing views on this situation or greater current knowledge or ideas on this matter. NOTE: The $6.24 per share is claimed to be assessable income, even though nothing has been sold and no monies received!
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