Thank God For Electricity

30 Sep

Cracker highlighted the increase in wages and salaries at ICC

they are millions of $$

they are millions of $$

While looking at the Annual Report I noticed this paragraph

Within the group a tax loss of Invercargill City Holdings Limited, will transfer tax losses to Electricity Invercargill Limited of $463,788 (2011: $362,000 to Electricity Invercargill Limited, $236,226 to Invercargill City Forests Limited). Invercargill City Forests Limited will transfer tax losses to Electricity Invercargill Limited of $75,704 (2011: Nil) to result in a nil taxation position for Invercargill City Holdings Limited.
From the above tax position of loss offsets transferred to other group companies for the year ended 30 June 2012, there are unrecognised tax losses of the Group of $5,203,385 (2011: $3,073,139).

I am no financial guru…so is an unrecognised tax loss a good thing or is Boniface’s electricity company the only thing keeping Holdco going?

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