Income tax: capital gains: how may shareholders be notified of a liquidator's written declaration under section 160WA?

In order to make an election under section 160WA of the Income Tax Assessment Act 1936, a shareholder must know that the liquidator has made the required written declaration after 11 November 1991. There is no requirement in section 160WA for shareholders to be notified by the liquidator individually or collectively. It is the responsibility of each shareholder to obtain this information from the liquidator.

Liquidators may notify shareholders that they have made such a written declaration by public meeting, media release, public notice in newspapers, letter, or any other means that they may choose.