Pubcaster’s plans hit tax snag

World Brief

AUCKLAND — Government plans to split transmission assets out of Kiwi pubcaster TVNZ have been pushed back from July 1 to December due to tax implications for its Australian subsidiary.

However, Broadcasting Minister Steve Maharey declined to elaborate on what the problems were. Opposition politicos claim the change will make TVNZ liable for $11 million capital gains tax. The twelfth-hour change is the latest of several setbacks in the government revamp of public broadcasting.

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