extra cash income for fy 2012 from nbn deal

It was not surprising to see the announcement this morning that Telstra-NBN deal was finally sealed. It was just as expected.

But there is a positive news in the announcement for Telstra fiscal year 2012:

"Telstra noted the Commonwealth’s $190 million post-tax NPV commitment to Telstra under the Information
Campaign and Migration Deed – one of the Definitive Agreements. A cash payment2 is expected this year and
will be amortised over three years as Other Income as costs are accrued. This payment is outside Telstra’s
guidance for fiscal year 2012."

That is an extra cash income of about $300 million in nominal terms.

A good start!