Eureka Correspondence

Rules for preference shares, Eureka recommendations, investing offshore using ETFs, and more.

In Banks – how to duck looming volatility the table referred to all the bank hybrids as preference shares. If this is the case, does the Australian Taxation Office (ATO) also regard them as preference shares for the franking credit holding period? There is a rule, apparently, that the holding period for preference shares is 90 days, as opposed to shares of 45 days. According to my tax agent this applies to some preference shares (not specified). In addition franking credits under $5000 total in any one year, the ATO does not worry about them. Can you help me in this matter?

Ron Hill

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