I looked into the tax losses yesterday and made the following observation,
last financial year the company payed $182th income tax on a NPBT of $1.574mil.
If I understand the tax situation (and I am not an accountant) right the tax rate was this low (11%) because some tax losses from NZ Farmers Livestock could be transformed to off set ALF tax.
ALF has increased its share holding in NZ Farmers Livestock which as I understand it will make the transfer of tax losses from NZFL more likely. ALF might not pay any tax for a long time as the group have unrecognised deferred tax assets as at 30-June 2016 of over $48mil.
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