The 30 June 2010 report (note 13) states that "the consolidated...

The 30 June 2010 report (note 13) states that "the consolidated group has $16,720,330 of tax losses (at 30%) that are available indefinitely for offset against future taxable profits of the Company".

Not sure what the cost base of CCP would be.

But if the company is to fully-frank the 28c dividend, thus providing a 12c franking credit to shareholders (which is effectively cash for Aust resident individuals and superfunds because you get a tax refund for any amount that can't be offset against your taxable income), then you have to assume they will be paying at least 12c of tax this year. This may not necessarily come from the CCP sale, but could come from the WD income.

Maybe the selling is from offshore funds who can't access the full franking credit (they only get a withholding tax exemption)...

All in all, it is impossible to factor in the full tax impact without further info from the company.

Any way you cut it though, 70c is still an absolute bargain.