Hi, can someone explain NGE's tax credits?
From monthly letter:
"The Company has ~$40 million of Australian unused and unrealised losses available ..... these losses equate to a potential future tax benefit of ~$11.0m or ~$0.30 per share.... The Company has received tax advice that these losses are available to be offset against future tax liabilities so long as NGE continues to satisfy the continuity of ownership test...."
Where did the tax losses originate? and is there some doubt about their status (as the final sentence suggests)?
Ann: Investment and NTA update - January 2020, page-9
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