Allied Farmers secures significant increase in tax losses

Wed, 18 Jan 2023

Allied Farmers has managed to secure a significant increase in its tax losses.It came after the listed primary sector investment company, which had a majority stake in New Zealand Farmers Livestock (NZFL), obtained a private ruling from Inland Revenue Department (IRD) in November under the Tax Administration Act.In its financial statements to June 30, 2022, no tax losses were recognised as an asset, and there was a disclosure that losses of $36.2 million were available. That was compared to $40.5m in 2021.However, Allied Farmers now said it exp...

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