PharmX Shareholders Enjoy Tax-Free Capital Return

Corum Group Limited (AU:PHX) has released an update.

PharmX Technologies has announced that the ATO has ruled the recent 0.75 cents per share return of capital to shareholders registered by November 27, 2023, is not a dividend and thus not taxable under certain conditions. This favorable ruling clarifies the tax implications for shareholders, affirming the return will not be included in their assessable income. The decision reinforces PharmX’s commitment to providing value to its shareholders while advancing healthcare through innovative technology solutions.

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