VHP obtains Inland Revenue binding ruling

20 September 2013

VHP obtains Inland Revenue binding ruling

Vital Healthcare Management Limited (the ‘Manager’), the manager of Vital Healthcare Property Trust (the ‘Trust’) today announced the Trust had obtained an Inland Revenue binding ruling.

The Trust has sought clarification of the tax treatment of certain items from the Inland Revenue which has resulted in receiving a binding ruling from the Inland Revenue on the application of the foreign investment fund (“FIF”) rules of the Income Tax Act 2007 (‘Act’). The Inland Revenue ruling was received today and applies to the 2013 to 2015 income years. The result of this ruling will be a reduction of Vital’s taxation expenses, including the write-back of $2.7m of current tax that had been provided.

David Carr, Chief Executive of the Manager said “Taxation is an area with many rules and compliance requirements and as identified in the Simplified Disclosure Prospectus (issued on 4 July 2013) we had highlighted that the clarification had been sought. We are pleased to have now received the Inland Revenue ruling as it provides further clarification to the Trusts taxation position.”

ENDS

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