MGX 3.39% 30.5¢ mount gibson iron limited

Ann: MGX agrees A$86 million property damage insurance settlement-MGX.AX, page-76

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  1. 15,774 Posts.
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    Everyone is right sought of
    The payment is considered Income BUT MGX had 243m of available income tax losses carried forward. Refer to half year accounts under Taxation . The 73m income tax asset represents 30% of the avalaible 243m available to offset income. This means not only will they have no tax to pay for this , but they won't pay any tax on BI payout.
    Interestingly MGX also has 61m of available franking credits - shchi could be used to make a nice fully franked distribution to make everyone happy
 
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