Tabcorp to post $31.5m tax gain after government accord

Tabcorp said it will post a $31.5 million ($27.1 million) gain after reaching a settlement with the Australian Tax Office over the tax treatment on $150 million paid under a trackside agreement in New South Wales.

The company said the income tax benefit will be treated as a significant item in its financial statements for the six months ending Dec. 31st.

Tabcorp said the gain won’t be included in the calculation of dividends in the current financial year. It targets a payout of 90 percent of net profit after tax, excluding items.

 

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