Airport's offset

Auckland International Airport says a reduction in the corporate tax rate will likely offset any impact from the removal of the ability to depreciate buildings.

The Government announced in May that it is removing the ability to depreciate buildings and is reducing the corporate tax rate to 28 per cent from 30 per cent.

Auckland Airport said yesterday that its net profit after tax will be reduced by $80 million for the year ended June 30 due to the deferred tax liability increases.