F(No.2)B 2010–11: company distributions

F(No. 2)B 2010–11 Sch 3 will ensure that distributions of a capital nature are no longer excluded from CTA 2010 Pt 9A. It makes various other changes to the company distribution rules: to extend the 'default exemption' in s 931H to other distributions; to clarify the interaction with the chargeable gains regime; and to confirm that distributions out of reserves created on a reduction of capital are treated as if made out of profits available for distribution. A number of issues remain to be resolved.