Otago Regional
Council staff have been asked to look into the tax
implications of the payments the council is making towards
the Forsyth Barr Stadium.
A schedule outlining the council's payment of its $37.5
million contribution was considered by councillors at this
week's finance and corporate committee meeting.
Committee chairman Cr Duncan Butcher asked if the tax issues
surrounding the payments had been considered.
Chief executive Graeme Martin said preliminary comment and
advice sought by staff on tax issues indicated there might be
more effective ways of making payments, but to put those in
place would take time.
It would be appropriate for the council to request that
information, as the tax advantages could potentially be
"quite significant" and it would be "inappropriate not to
harvest them".
The committee agreed with a recommendation from Cr Butcher
that staff check the tax implications of the stadium
payments.
rebecca.fox@odt.co.nz
