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20.0¢ terracom limited

The table says "taxpayers whose 2022 tax return was taxable"....

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jace.h

805 Posts.

135

06/02/24

17:39

Post #: 72268222
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Originally posted by shaidar1974: ↑

because paying income tax for companies on 1 December after the year end is a requirement under the Income Tax Assessment Act - companies don't generally pick and choose when they pay their liabilities in particular with government authorities (especially public companies).

The $64 million i mentioned above is just the tax owing as at 30 June 2023 for the 2023 financial year. They would be required to pay monthly PAYG Tax instalments each month during this current financial year. I have no idea what this amount would be, but it is a percentage of the income they earn - the percentage called PAYG Tax Instalment Rate is calculated based on the last tax return.

i stress, the major reason why they had so much tax to pay as at 30 June 2023 is because they previously had tax losses, therefore their PAYG Tax Instalment Rate would have been 0.0% for most of the 2023 financial year, therefore they wouldn't have been paying monthly PAYG Tax Instalments until they lodged their 2022 ITR - due date would have been 31 January 2023.

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The table says "taxpayers whose 2022 tax return was taxable". TER was not taxable in 2022.

TER Price at posting: 28.5¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 20.0¢		Change -0.010(4.76%)		Mkt cap ! $160.1M

Open	High	Low	Value	Volume
21.5¢	22.0¢	20.0¢	$282.5K	1.368M

Buyers (Bids)

No.	Vol.	Price($)
16	424198	20.0¢

Sellers (Offers)

Price($)	Vol.	No.
20.5¢	20000	1

View Market Depth

No.	Vol.	Price($)
16	424198	0.200
3	35385	0.195
9	171000	0.190
7	461238	0.185
19	659810	0.180

Price($)	Vol.	No.
0.205	20000	1
0.210	122824	1
0.215	146341	1
0.220	91000	3
0.225	240465	4

Last trade - 16.10pm 14/08/2024 (20 minute delay)

TER (ASX) Chart