27th february daytrading - morning, page-24

CGF - grabbed a few on tax ruling released after market Friday

The TOFA application has now been confirmed by the ATO and is expected to result in a net reduction in tax expense of circa $30 million for each of the three financial years 2012 to 2014. As there will be a reduction in tax expense in future periods it will be included in the calculation of normalised and reported tax expense in Challenger’s financial results