| ||Pool returns adjusted to exclude GST|| ||
AWB Limited’s pool returns were adjusted today to conform to the company’s policy of quoting prices exclusive of GST from July 1 2001. There were no changes to the GST exclusive value of estimated pool returns.
From today all pool estimates and cash bids quoted by AWB will not include GST.
Chief Executive Andrew Lindberg said the introduction of GST exclusive prices followed up the commitment AWB gave to growers earlier this year.
“Growers told AWB that it was imperative for them to be able to compare prices, and to have consistency. We have revised our policy to make these comparisons easier,” said Mr Lindberg.
Growers who are registered for GST should note that in accordance with normal business tax requirements all their cash and quarterly pool distributions will include GST, which growers remit to the Australian Taxation Office, according to their individual tax requirements.
Please find attached new figures.
AWB (International) Limited’s next pool estimate update will be released on Monday 9th July 2001 at 5pm EST.
Pool Update tables