FAR (ASX:FAR), formerly known as FAR Ltd, provided an update on a class ruling from Australian Taxation Office (ATO).

The ruling states that the capital return will not be counted as a dividend.

Furthermore, it adds that qualifying shareholders, i.e., those who were on the company’s shareholder list as of August 24th and received a capital return payment of 40 AU cents per share, can treat any resulting capital gain as a discount capital gain.

Note that this ruling applies only to those shareholders who meet these criteria.

FAR is an oil and gas company specializing in the exploration, development, and production of oil and gas properties.