LOL - didn't you read the annual report? Have a re-check of page 76 and tell us how much tax they are paying ... and what percentage this would be off the income ;
However - here is a hint - the fact that their dividend is not imputed clearly shows they don't pay income taxes in NZ. Issue is - a significant part of their "income" are re-valuation gains which they don't need to pay taxes for (due to not realized).
I don’t pretend to understand all that is written in the report, but I do understand deferred taxes. On page 77-78.
Anyway my whole thing was more about dividends for people who want/need dividends somewhat guaranteed higher than what banks currently provide. I reinvest mine dividends as I don’t need the cash, but I only pay 17.5% due to earning below $48,000 go figure. I would get out if you don’t like the way they do things
LOL - didn't you read the annual report? Have a re-check of page 76 and tell us how much tax they are paying ... and what percentage this would be off the income ;
However - here is a hint - the fact that their dividend is not imputed clearly shows they don't pay income taxes in NZ. Issue is - a significant part of their "income" are re-valuation gains which they don't need to pay taxes for (due to not realized).
Can someone (SNOW LEOPARD?) please help? Isn't revaluation gains considered capital gains and thus will be excluded (non taxable) income in Dividends payout?
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