BNZ tax case decision due - NAB on trading halt

The National Australia Bank has been placed on a trading halt in both New Zealand and Australia.

It is understood the halt relates to the pending release of a decision from the New Zealand High Court on a tax avoidance case involving tax and interest charges of more than $640 million.

The first of several cases involving similar structured finance arrangements, the case wound up in Wellington a month ago before Justice John Wild, with a new case based on similar issues now running in the High Court in Auckland.

Bank of New Zealand is a subsidiary of NAB, and the tax arrangements involved were only available to be exploited by foreign owned banks operating in New Zealand.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

May 19th Morning Report
PYS - PaySauce to announce F26 full year results on 27 May 2026
PEB - Draft LCD Proposes Medicare Coverage for Triage and Triage
MEL - Meridian Energy monthly operating report for April 2026
FBU - Sale of South Australian property
AIR - Air New Zealand market update
May 14th Morning Report
PEB - Pacific Edge Placement Increased to NZ$25.4 Million
Radius Care Reports Earnings Growth and 50% Higher Dividend
May 13th Morning Report