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AMP shareholders save on tax



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M ED IA RELEASE

Nat 98/53

AMP SHAREHOLDERS SAVE ON TAX

The-Ttot Office-today announced· a· change- to- Ac- acquisition· date- of the-original aUccatica of AMP shares that will benefit shareholders through earlier indexation.

The Tax Office and AMP Limited have agreed that the deemed acquisition date o f the original allocation o f shares in AMP Limited is now 20 November 1997. The previously announced date was 1 January 1998.

“This means that for inflation purposes the deemed acquisition price of SI 0.43 per share will be indexed earlier,” Tax Commissioner Michael Carmody said.

“This will result in an increased cost base for the original allocation o f shares sold or transferred on or after 20 November 1998, therefore a smaller capital gain will be taxed.”

The change o f date is outlined in the Addenda tu TD 98/15 and TD 98/16. Copies of the addenda are available from your local tax office or on ATOassist at www.ato.gov.au.

CANRERBA 19 August 1998

Contact: Corporate Affairs & Marketing 02 6216 1901 (bh) 0411 182 433 (mobile)