Remirez.............sorry that is not correct. Impairment is an accounting charge . it has nothing to do with tax liabilities and hence payments to ATO. We you do your tax its under the tax law which is a totally different thing to accounting standards. The ATO will give you zero extra deductions for an accounting impairment. These guys would go and add that back when calculating their taxable income. Once you finally sell an impaired asset and crystalise a CGT loss , you will get a tax benefit but even then CGT losses offset CGT gains and can't be offset against normal taxable income.
GXY Price at posting:
$1.15 Sentiment: Buy Disclosure: Held
