Kupe tax relief
Investors who subscribed to the float of Kupe Petroleum, Nl, in 1983, can now claim part of the tax deduction on their initial shareholdings, following the amendment of an earlier reassessment by the Inland Revenue Department. The amendment entitles subscribers to 55 per cent of the deduction they originally claimed in 1984 under section 160 A of the Income Tax Act. Earlier this year the department disallowed all of the original claims, but has now agreed that they should be apportioned. It has informally advised the company that all those who claimed the 160 A deduction will have their assessments reopened. Subscribers should contact the department to confirm that the reassessment will be made.
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Press, 14 September 1988, Page 37
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117Kupe tax relief Press, 14 September 1988, Page 37
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