July 15 (Reuters) - Primary Health Care Ltd PRY.AX :
* ATO settlement and guidance update PRY.AX
* Clinicians who joined pry prior to 30 June 2015 will not have their practice sale proceeds assessed as if these were ordinary income
* Says " pry reduces outlook for underlying earnings "
* Says trading in 4q FY 2015 has been weaker than expected with subdued patient volumes
* Agreed with ato to settle doctor tax liability of approximately $105 million which will be offset against about $155 million of tax refund
* Underlying EBITDA for FY 2015 revised to approximately $400 million against previous guidance of $410-425 million
* Reported EPS growth for FY 2015 in the range of 1720% due primarily to the net tax refund of about $50 million
* Says entered into a binding heads of agreement (hoa) with the ato
* Deal with respect to certain tax liabilities on behalf of its healthcare practitioners
* ATO will not commence new review of healthcare practitioners in relation to medical,healthcare practice acquisitions in respect of FY 2011 to FY 2015
* PRY will not exercise its review or appeal rights with respect to certain objections lodged for the FY 2011 to FY 2014 years
* PRY will not seek certain deductions in respect of payments to healthcare practitioners in the FY 2015 year.
* Source text for Eikon ID:nASX1KLp9G
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