Allied Farmers calls special meeting to protect tax asset
The company wants constitutional amendments to restrict share transfers that would otherwise jeopardise shareholder continuity requirements for the use of tax losses.
Allied Farmers chair Shelley Ruha.
NZX-listed Allied Farmers is seeking to cap shareholder interests at 5% to protect huge tax loss assets confirmed by an IRD ruling in November 2022.
The tax losses can be used to minimise tax on future profits, but only if Allied Farmers qualifies under shareholder continuity rules under the Income
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