As a US based investor, I know very little about Australian tax laws. Can someone tell me to what degree does Australia allow companies with accumulated losses to carry those forward into future tax years? Did BBI have loss carry forwards prior to this announcement?
Would an impairment of the type today be used only to offset capital gains rather than ordinary income? Can such impairments be carried forward to future years as well?
One wonders if they are not setting up the impairment in order to offset a gain on DBCT sale?
As a US based investor, I know very little about Australian tax...
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