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Australia Brambles estimates one time tax benefit from U.S. tax reform

Australia Brambles estimates one time tax benefit from U.S. tax reform

CANBERRA: Brambles Ltd said on Tuesday it estimates a $125 million to $155 million one-time benefit due to the passing of the Tax Cuts and Jobs Act in the United States.

The pallets and container company said in a statement the one-time non-cash benefit to its income tax expense as at Dec. 31, 2017, would be due to a lower deferred tax liability in the United States. Brambles also said that, apart from the tax rate reduction, there were a “number of measures” that could affect the company negatively. It did not elaborate.