distribution to share holders, page-42

Hi Nursery

Correct 46.5% would leak to the tax office.

However, dont REITs have a distribute a minimum of 90% of their taxable income to avoid being taxed. I saw that somewhere but not sure where.

CT could you provide clarification? I think you may have written up something about this.

CER may then only distribute 1.35c instead of say 1.5c. Therefore only 0.675c (50%) would leak out of the consolidated entity as opposed to the other option, which would be distribute nothing and pay 46.5% of 1.5c to ATO. This would equate to 0.6975c per share.

CER would therefore be better off paying a reduced taxable income to shareholders.

Cheers