eme tko approved, page-5

drongo

I have stated it before that it is before tax, as has JRL's announcements, but I think HC people are clever enough to realise that particularly those in this stock.

Regardless, accountants are very clever people and no doubt they will work hard to ensure a tax effective outcome (in fact refer today's Garimpeiro article in The Age).

"After some long chats with tax advisors, Jindalee will be looking to distribute some goodies to its shareholders, keeping some of the cash to pay for a new set of opportunities."

The tax payable is not as simple as 30% of the proceeds.

Remember, JRL did vend interests into its EME spin off which will no doubt count as 'consideration' and therefore there will be a 'cost base' which will reduce the 'capital gain' made. At least that's my view though refer my qualifier below about not being an accountant.

Further, I expect JRL has unused tax assets which they can use to reduce tax payable.

Though whether they do that or not is questionable...ie do they wish to maximise the level of franking of any dividend.

Unfortunately I am not an accountant, so all that stuff is way beyond me...I will leave it to JRL and their 'tax advisors' to make sure they maximise benefits for shareholders.

Cdchi1