CDL Investments faces $26m tax adjustment

Thu, 01 Aug 2024

CDL Investments (CDI) expects a one-off, non-cash deferred tax liability adjustment of about $4 million to affect its interim results for 2024.

The adjustment is a result of changes to tax legislation, which eliminated the ability to claim tax depreciation on commercial buildings.

CDI clarified that this expense will not affect its trading profitability or cash flows.

The company has been assessing the impact of the tax change and seeking external accounting and taxation advice.

CDI is set to release its 2024 interim results in the first half of August.

CDL Investments is a majority-owned subsidiary of Millennium & Copthorne Hotels New Zealand.

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