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- Release Date: 20/09/13 10:49
- Summary: GENERAL: VHP: VHP obtains Inland Revenue binding ruling
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VHP
20/09/2013 08:48
GENERAL
REL: 0848 HRS Vital Healthcare Property Trust
GENERAL: VHP: VHP obtains Inland Revenue binding ruling
VHP obtains Inland Revenue binding ruling
Vital Healthcare Management Limited (the 'Manager'), the manager of Vital
Healthcare Property Trust (the 'Trust') today announced the Trust had
obtained an Inland Revenue binding ruling.
The Trust has sought clarification of the tax treatment of certain items from
the Inland Revenue which has resulted in receiving a binding ruling from the
Inland Revenue on the application of the foreign investment fund ("FIF")
rules of the Income Tax Act 2007 ('Act'). The Inland Revenue ruling was
received today and applies to the 2013 to 2015 income years. The result of
this ruling will be a reduction of Vital's taxation expenses, including the
write-back of $2.7m of current tax that had been provided.
David Carr, Chief Executive of the Manager said "Taxation is an area with
many rules and compliance requirements and as identified in the Simplified
Disclosure Prospectus (issued on 4 July 2013) we had highlighted that the
clarification had been sought. We are pleased to have now received the Inland
Revenue ruling as it provides further clarification to the Trusts taxation
position."
- ENDS -
ENQUIRIES
David Carr, Chief Executive Officer
Vital Healthcare Management Ltd, Telephone 09 973 7301, Email
[email protected]
Stuart Harrison, Chief Financial Officer
Vital Healthcare Management Ltd, Telephone 09 973 7302, Email
[email protected]
About Vital Healthcare Property Trust
With a portfolio value of over NZ$618m, Vital Healthcare Property Trust
(NZSX: VHP) is Australasia's largest listed investor in medical and
healthcare property infrastructure. With an expert understanding of the needs
of healthcare tenants on both sides of the Tasman, we actively select,
develop and manage quality properties to meet the growing demand for medical
and healthcare services. Our 108 tenants, in 24 properties, provide essential
healthcare services to thousands of patients while also undertaking research
and providing support services that will make a difference to many more lives
in the future.
The Manager of Vital Healthcare Property Trust, Vital Healthcare Management
Limited is owned by NorthWest Value Partners Inc., a private real estate
investment firm based in Canada with healthcare real estate interests in
Canada, Australia, New Zealand, Brazil and Germany.
vitalhealthcareproperty.co.nz
End CA:00241354 For:VHP Type:GENERAL Time:2013-09-20 08:49:00
