Successful Private Ruling on Tax Losses
GENERAL
Mon, Nov 28 2022 12:32 pm
28 November 2022
[email protected]
Successful Private Ruling on Tax Losses
Allied Farmers Limited (“Allied Farmers” NZX: ALF) is pleased to advise that it has obtained a Private Ruling from Inland Revenue under s 91E of the Tax Administration Act 1994 that will result in a significant increase in the tax losses currently available to the Allied Farmers Group.
Allied Farmers Group tax losses were reported as at 30 June 2022 at $36,288,403.
Allied Farmers will provide a further update on the quantum of these additional losses once final assessments have been received and confirmed.
The ability to utilise the tax losses is dependent on continuing to meet shareholder continuity requirements of prevailing income tax legislation.
On behalf of the Board,
Chris Swasbrook
Chairman
Announcement PDF
Markets News
Finance
Kiwibank eyes a fairer fight with the Aussie big four
Kiwibank, partway through a $500m capital hike, sells growth and culture stories.
Markets
Steel & Tube and Michael Hill navigate economic headwinds
Steel & Tube says recovery could take another 12 to 18 months.
Property
Fletcher Building MD: ‘It hurts to make these cuts’
An emotional Andrew Reding says staff understand why the firm has to cut back.
