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  1. #11
    ShareTrader Legend Beagle's Avatar
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    Broadly speaking tax losses carried forward can only be utilised when at least 49% of shareholders who originally incurred that loss are still shareholders when the loss is claimed. Macquarie have about 42% if my memory serves me correctly, (after the sell-down in 2018). Its quite possible that the loss carried forward rules still applies as there may be more than 7% of other shareholders who carry the day.

    When Macquarie continue their sell-down it is likely, (even if its only one more partial tranche), that the loss carried forward rules won't be met and OCA will have to pay more tax, lowering their net profit after tax. Most of these retirement companies pay very little tax but as OCA's primary business is care at present, (not development), this will hurt them and is another reason I don't hold. In time the dividends may be able to be partially imputed.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  2. #12
    percy
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    A premium care suite in Christchurch costs an upfront payment "occupation right" of between $120,000 and $150,000, and a daily payment of $140.
    A bedroom with ensuite and a lounge cum kitchenette.

  3. #13
    Speedy Az winner69's Avatar
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    From last OCA Annual Report:


    Recognition of Deferred Tax on Tax Losses

    The Company and its subsidiaries exited the former Oceania Healthcare Holdings Limited (”OHHL”) tax consolidated group from 31 May 2015. All tax losses incurred by the Company and its subsidiaries until 31 May 2015 are tax losses of the OHHL consolidated tax group (of which the Group is no longer a member).

    On 5 September 2018 the Group forfeited all losses generated prior to the IPO of the Company as a result of the sale of 15.56% of OHHL’s shareholding (refer note 5.5). This resulted in the cessation of shareholder continuity.

    The Group also utilised $21.9m of losses to offset additional taxable income arising from the change in recognition of DMF revenue as noted above.

    After allowing for the utilisation of losses to offset additional taxable income arising from the change in recognition of DMF revenue, the forfeiture of losses generated prior to IPO on 5 September 2018, and taking into consideration the new losses generated in the year to 31 May 2019, the Group now has an estimated $25.6m (2018: $64.6m) of available tax losses at 31 May 2019. Of these total available tax losses, $12.2m may be forfeited in the event of a further sale of shares by OHHL.

    A deferred tax asset totalling $3.8m has been recognised as at 31 May 2019, being the tax effect of the remaining $13.4m of tax losses (2018:nil). These are effectively the tax losses generated after 5 September 2018 which will be retained by the Group in the event of any further sale of shares by OHHL provided there are no other significant shareholding changes.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  4. #14
    ShareTrader Legend Beagle's Avatar
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    Thanks for doing the work on this Winner.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  5. #15
    percy
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    Yes thank you W69.

    I note Turners volume has increased today,ahead of tomorrow's result.
    I know you are getting rather excited,so pleasing to see you loading up.

  6. #16
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by percy View Post
    A premium care suite in Christchurch costs an upfront payment "occupation right" of between $120,000 and $150,000, and a daily payment of $140.
    A bedroom with ensuite and a lounge cum kitchenette.
    Is that with OCA ? You've got to buy the occupation right and this is amortised at (as I understand it 10% per annum) so on $150,000 that's $15,000 per annum plus also pay them $140 per day ? Don't you mean $140 per week ?
    Last edited by Beagle; 26-11-2019 at 02:32 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  7. #17
    Advanced Member
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    Quote Originally Posted by Beagle View Post
    Is that with OCA ? You've got to buy the occupation right and this is amortised at (as I understand it 10% per annum) so on $150,000 that's $15,000 per annum plus also pay them $140 per day ? Don't you mean $140 per week ?
    $140 per day ! Hope I don't get old. Ooops...already am....I mean older. No...that's not a good solution either.

  8. #18
    percy
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    Quote Originally Posted by RTM View Post
    $140 per day ! Hope I don't get old. Ooops...already am....I mean older. No...that's not a good solution either.
    My brother in law is paying over $1,000 a week for care,in an old retirement home,for a very small bedroom with a toilet.
    Last edited by percy; 26-11-2019 at 02:58 PM.

  9. #19
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    Quote Originally Posted by percy View Post
    My brother in law is paying over $1,000 a week for care,in an old retirement home,for a very small bedroom with a toilet.
    Well…..they've got that new law...by the time I'm ready...the safeguards might be gone ?
    No...shouldn't joke about that.
    Looks like getting old is going to be an expensive business.
    Thanks Percy....but I prefer not to think about it to much.
    Cheers
    RTM

  10. #20
    IMO
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    Quote Originally Posted by percy View Post
    My brother in law is paying over $1,000 a week for care,in an old retirement home,for a very small bedroom with a toilet.
    Over $1200 here for our Mother. Be wary when they want to shift your mum or dad to another level of care, they will try to up the room rate. Ask specifically before hand what the changes entail and take the name and date of the person you talk to.

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