Sunday, August 8, 2010

Ryman Healthcare: Government Tax & Depreciation Changes Impact

Not released to the market as yet so exclusive Share Investor Blog, are the following impacts on Ryman Healthcare Ltd [RYM.NZ] from recent changes by the government on the corporate tax rate and depreciation rates on commercial buildings as disclosed in an upcoming Share Investor Q & A with Ryman CFO Gordon MacLeod.

Interview Extract:

SI - How much impact will the recent Government tax changes on building depreciation affect Ryman and will the lower corporate tax rate ameliorate the situation if the company has been impacted?

GM - At this early stage we estimate that we will lose tax depreciation on buildings of $9m to $10m. Shareholders currently pay tax at 33% on our dividends, so they will start to receive the benefit of imputation credits once tax losses accumulated during our investment / growth phase have been utilised over the next 2 to 3 years.

At first glance, like other listed NZX companies the impact on changes from these changes will be largely a balance sheet entry with little material impact on the company and therefore Ryman shareholders.

You can read the extensive and exclusive interview with Gordon Monday morning, August 9.

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