Government caves in to shareholder lobbying on taxation of demerged shares

Sat, 03 Sep 2016

By Fiona Rotherham Sept. 3 (BusinessDesk) - The New Zealand Shareholders’ Association has succeeded in its dogged pursuit of a legislative change so shareholders don’t get taxed on shares of demerged companies. Revenue Minister Michael Woodhouse has agreed to put the demerger issue onto the government’s draft tax policy programme and has given it high priority, chairman John Hawkins told those attending the association’s annual meeting in Auckland. Former minister Todd McClay had said previously that while there was merit in the argu...

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