Ordinary shares:
The par value does not necessarily mean that:
Contributing (or partly paid) shares may be issued where a company does not require full payment to meet its immediate capital requirements, but will need the extra funds to meet future commitments. When all payments are made on partly paid shares they will be converted to fully paid shares.
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Deferred dividend shares are issued with the stipulation that dividends will not be paid until a specified period has elapsed.
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Preference shares entitle the shareholder to:
Shareholders with company options can subscribe to new shares, on a nominated date, by paying an agreed or 'exercise' price. The following information applies to company options:
The following table describes convertible, non-convertible and capital notes:
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Note |
Description |
Convertible notes |
Are similar to loan investments as they have a:
They are included among equity investments because, at a specified date, they are convertible to ordinary shares either:
|
Non-convertible notes and capital notes |
Have a fixed interest rate, but are not convertible to ordinary shares. |
How ordinary shares are assessed
9.5.5/Deemed Income from Listed Securities, Derivative Investments & Foreign Shareholdings [8]
Assessment of contributing or partly paid shares
9.5.5/Deemed Income from Listed Securities, Derivative Investments & Foreign Shareholdings [8]
Assessment of contributing or partly paid shares
9.5.5/Deemed Income from Listed Securities, Derivative Investments & Foreign Shareholdings [8]
Assessment of preference shares
9.5.5/Deemed Income from Listed Securities, Derivative Investments & Foreign Shareholdings [8]
Assessment of company options
9.5.5/Deemed Income from Listed Securities, Derivative Investments & Foreign Shareholdings [8]
Assessment of convertible, non-convertible and capital notes
9.5.5/Deemed Income from Listed Securities, Derivative Investments & Foreign Shareholdings [8]
Links
[1] https://clik.dva.gov.au/user/login?destination=node/16093%23comment-form
[2] https://clik.dva.gov.au/book/export/html/16093#tgt-cspol_part9_ftn501
[3] https://clik.dva.gov.au/book/export/html/16093#tgt-cspol_part9_ftn502
[4] https://clik.dva.gov.au/book/export/html/16093#tgt-cspol_part9_ftn503
[5] https://clik.dva.gov.au/book/export/html/16093#tgt-cspol_part9_ftn504
[6] https://clik.dva.gov.au/book/export/html/16093#tgt-cspol_part9_ftn505
[7] https://clik.dva.gov.au/book/export/html/16093#tgt-cspol_part9_ftn506
[8] https://clik.dva.gov.au/compensation-and-support-policy-library/part-9-principles-determining-pension-rate/95-deeming-provisions/955-deeming-shares-investments
[9] https://clik.dva.gov.au/book/export/html/16093#ref-cspol_part9_ftn501
[10] https://clik.dva.gov.au/book/export/html/16093#ref-cspol_part9_ftn502
[11] https://clik.dva.gov.au/book/export/html/16093#ref-cspol_part9_ftn503
[12] https://clik.dva.gov.au/book/export/html/16093#ref-cspol_part9_ftn504
[13] https://clik.dva.gov.au/book/export/html/16093#ref-cspol_part9_ftn505
[14] https://clik.dva.gov.au/book/export/html/16093#ref-cspol_part9_ftn506