Allied Gold not effected by Super Profits Tax

 

TIDMAGLD 
 
RNS Number : 4395L 
Allied Gold Limited 
06 May 2010 
 

FOR IMMEDIATE RELEASE 
       6 May 2010 
                              allied gold limited 
                                ("the Company") 
 
                                  Media Release 
 
 
                          ALLIED GOLD LIMITED PROJECTS 
                   NOT AFFECTED BY RESOURCE SUPER PROFITS TAX 
 
On 2 May 2010, the Australian Government released the Henry Review into 
Australia's tax and transfer system. 
 
One of the key reforms announced by the Government was the proposed 
implementation of a Resource Super Profits Tax (RSPT) of 40 per cent from 1 July 
2012.  The RSPT applies to all Australian non-renewable, natural resources 
projects not already subject to Petroleum Resource Rent Tax. 
 
Allied Gold's natural resources projects are located in jurisdictions other than 
Australia and are owned by entities that are not subject to Australian taxation 
legislation.  Accordingly, profits generated by any of Allied Gold's existing 
resource projects will not be subject to the RSPT announced as part of the Henry 
Review. 
 
In addition to the RSPT, the Henry Review recommended a number of other reforms 
to the Australian taxation system.  A preliminary assessment of the reforms 
announced to date indicates that they are not expected to have a significant 
impact on the Allied Group in its current form.  The Australian Government has 
indicated that it will make further announcements in the coming months in 
relation to its response to the Henry Review.  Allied Gold will continue to 
monitor the Australian Government's implementation of the Henry Review and will 
inform the market of any material impact of those changes on the Allied Gold 
group. 
 
For further information, contact: 
 
Allied Gold Limited 
Mark Caruso 
Executive Chairman 
T:[phone] 
 
Frank Terranova 
Chief Financial Officer 
T:  [phone] 
M: [phone] 
E: [e-mail] 
 
Peter Torre 
Company Secretary 
T: [phone] 
E: [e-mail] 
 
Beaumont Cornish Limited 
 
Roland Cornish 
Beaumont Cornish Limited 
T: [phone] 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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