What to do with the proceeds of the takeover?
ASX TOX just announced a 58 cent, special dividend. Scheme implemented april 30th.
$2.845 cash
$0.58 dividend
$0.2485 tax credits
Plus $0.60+ a share tax loss. Can off set those Aconex gains.
Payout april 30th
Last sale $3.43
And if you have earnt less than $5,000 in tax credits in a year, the 45 day holding rule doesn't apply (that's what ASIC's website said last year. Note SMSF's aren't a natural person). So you can get your money, rinse it through TOX for 30 days, reduce your tax bill and make profit.
Unless your personal income rate is above 30% and you held ACX for more than 12 months, then you pay more.
But if your quick maybe the trick can be repeated with MTR or LHC
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Ann: Becoming a substantial holder from MQG, page-4
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