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structured finance transactions

ASB Profit Wrecked By IRD Bill

ASB Profit Wrecked By IRD Bill
Wellington, Feb 10 NZPA - ASB's settlement with Inland Revenue has seen its shrinking profit for the last half of 2009 turn into a $10 million loss, the bank said today.

NZ Sharemarket Closes Above 3200 For Second Consecutive Day

NZ Sharemarket Closes Above 3200 For Second Consecutive Day
Wellington, Dec 24 NZPA - The New Zealand sharemarket eased its way into the Christmas holiday period, closing little changed on light volume. The benchmark NZSX-50 index closed down 4.362 points, or 0.136 percent, at 3205.20.

Banks Settle With IRD -- $2.2b Present For Taxpayer

Banks Settle With IRD -- $2.2b Present For Taxpayer
Wellington, Dec 23 NZPA - Four major banks tonight settled long-running disputes with the Inland Revenue Department (IRD), and will pay 80 percent of the amount in dispute, more than $2.2 billion.

Banks Settle Long Running Tax Dispute -- Pay Taxpayer $2.2b

Wellington, Dec 23 NZPA - Four major banks tonight settled long-running disputes with the Inland Revenue Department (IRD), and will pay 80 percent of the amount in dispute, more than $2.2 billion.

Treasury Says Economic Recovery Wobbly And Soft

Treasury Says Economic Recovery Wobbly And Soft
Wellington, Dec 7 NZPA - Despite signs of economic recovery many risks still threaten the sustainability of economic growth, Treasury said today.

Westpac To Appeal NZ Structured Finance Case

Westpac To Appeal NZ Structured Finance Case
Wellington, Nov 3 NZPA - Westpac has appealed the structured finance transaction High Court case that went against it last month. The bank, which reports its annual profit tomorrow, has said the cost of the judgment was $918 million.

NZ Sharemarket Lower In Quiet Trading

NZ Sharemarket Lower In Quiet Trading
Wellington, Nov 3 NZPA - The New Zealand sharemarket drifted lower today after receiving fairly mixed signals from offshore.

Tax Cases Will Not Affect Australian Bank Ratings - Moody's

Tax Cases Will Not Affect Australian Bank Ratings - Moody's
Wellington, Oct 12 NZPA - The ratings of Australian banks will not be affected by the sizeable costs they face from unfavourable tax judgments in New Zealand, Moody's Investor Services said.

Westpac Tax Court Case Has Ramifications For Banks, Economy

Westpac Tax Court Case Has Ramifications For Banks, Economy
Wellington, Oct 8 NZPA - Westpac Banking Corp copped a near billion dollar tax bill today, which some people believe may have ramifications for the cost of credit in New Zealand.

Westpac Loses NZ Structured Finance Tax Case

Westpac Loses NZ Structured Finance Tax Case
Wellington, Oct 8 NZPA - Westpac Banking Corp has lost a court case in which $961 million of tax and interest is in dispute with New Zealand's Inland Revenue Department (IRD).

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