Not an accountant but...impairment losses are not tax deductible, neither are unrealised losses. Therefore 2022 tax losses would be closer to $15M.
However, your point is valid that there should be tax losses carried forward that should reduce the tax burden, just not the full amount of the carried forward losses shown in the June 30 2022 annual accounts.
This does give rise to an interesting question - are the carried forward tax losses WMC's best asset? What value do you give the tax losses? Can they/will they be carried forward in a transaction?
Again, not an accountant, DYOR.
WMC Price at posting:
20.5¢ Sentiment: None Disclosure: Not Held
