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Move could benefit struggling fresh produce companies says PMA
AU: Federal Budget's "loss carry-back" measure welcomedPMA Australia-New Zealand CEO, Michael Worthington, today applauded the budget measure to allow companies to carry-back their losses, saying that the refund from taxes paid over the previous year could benefit many struggling fresh produce companies across Australia.
"The fresh fruit, vegetable and floral industry has had a horror year, with low prices, weak consumer demand, dismal export returns and high operating costs, and many companies are now trading in the red" said Mr Worthington.
"Being able to claim up to $300,000 [on eligible losses of $1 million] from tax paid the previous year will definitely be a help to these companies" he added.
PMA Australia-New Zealand, the first international affiliate of the Produce Marketing Association, is the leading trade association representing companies from every segment of the fresh fruit, vegetable and floral supply chain across Australia and New Zealand.
For more information:
Tel: +61 3 88 44 55 36
Mob: +61 409 181 034
Publication date: 5/9/2012
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