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:

Skellerup achieves another record result
August 21st Morning Report
Me Today signals capital raise and provides trading update
Seeka Announces Interim Result and Updates Guidance
FBU - Fletcher Building announces FY25 Results
August 20th Morning Report
RUA - New Zealand grown products support Rua's global strategy
Devon Funds Morning Note - 19 August 2025
Seeka Announces 15 cent Dividend
MCY - Major renewable build advanced despite 10% earnings dip