Australian Grains Champion is conscious this Proposal should be tax effective for growers.
Australian Taxation Office (ATO) rulings will be sought regarding capital gains tax rollover relief from a taxable event for the conversion and transfer of shares presently owned by members of CBH into shares they receive in Australian Grains Champion.
These rulings will be sought prior to CBH members voting on the Proposal and will only cover the share component of the transaction. The cash component of the Proposal is quite distinct and grower members will need to seek their own taxation advice in regards to the tax implications of the cash received. The intent in seeking the ruling is to inform members of the taxation implications of the share component at the time of the vote.