Ann: Section 258F Corporations Act Capital Adjust, page-7

re: Ann: Section 258F Corporations Act Capita... Enternal

Good discussion and your points are notworthy, especially the reminder for management!

However, I stand by the fact that accumulated losses for accounting are very different to accumulated losses for tax.

Take a look at the tax note. You can see that they back out the impact of the 2012 impairment to get to the tax expense (i.e. there is no deduction. Or alternatively Coffey are still paying tax even though they made a NPBT loss).

There is no tax benefit (or deduction) for writting off goodwill.

Management and the Board would have taken tax advice on this. There is no way that they would do this if there was $30m of value being written off.