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4.5¢ cann group limited

Accumulated tax losses can only be used to offset future tax on...

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wasko

1,957 Posts.

622

25/07/24

21:26

Post #: 74921739
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Originally posted by Batesii: ↑

Hi All,

Re: debt

What are everyone’s thoughts on Cann’s cumulated tax benefit with the ATO? I personally thought that the estimated almost $30M in tax benefit was quite significant, and hadn’t really seen it mentioned anywhere. It would certainly put a dent in the NAB loan!

Below excerpt from Half Year Report (released 8th May ‘24):

“The balance of future income tax benefit estimated to be $2.74 million (30 June 2023 $7.29 million) arising from current half year tax losses of $14.34 million (30 June 2023 $33.79 million) and timing differences has not been recognised as an asset because it is not clear when the losses will be recovered. The cumulative future income tax benefit estimated to be $29.37 million which has not been recognised as an asset…”

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Accumulated tax losses can only be used to offset future tax on profits. Company isn't profitable.

CAN Price at posting: 3.4¢ Sentiment: Sell Disclosure: Not Held
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(20min delay)
Last 4.5¢		Change 0.006(15.4%)		Mkt cap ! $21.01M

Open	High	Low	Value	Volume
4.0¢	4.6¢	3.9¢	$245.7K	5.686M

Buyers (Bids)

No.	Vol.	Price($)
1	1093653	4.5¢

Sellers (Offers)

Price($)	Vol.	No.
4.6¢	500000	1

View Market Depth

No.	Vol.	Price($)
1	1093653	0.045
1	100000	0.043
2	35484	0.042
4	248919	0.040
1	23763	0.039

Price($)	Vol.	No.
0.046	500000	1
0.047	185998	3
0.048	71354	3
0.049	101400	2
0.050	119439	5

Last trade - 16.10pm 29/08/2024 (20 minute delay)

CAN (ASX) Chart