Supreme Court knocks back Trustpower's appeal to claim tax deductions on project costs

Tue, 26 Jul 2016

By Paul McBeth July 27 (BusinessDesk) - The Supreme Court has turned down Trustpower's appeal to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. The country's top court sided with the Inland Revenue Department, disallowing Trustpower's appeal to claim tax deductions for the cost of what Trustpower described as "feasibility expenditure" on four potential projects in the South Island, including spending on obtaining resource consents for two wind farms and two hydro...

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