By and large agree but am not sure of the ATO worst case scenario. It is one thing to dismiss the tax office with the 'ol timing difference line, but the reality is that tax losses need to be offset against taxable income.
I'm not convinced that: (a) the deduction will be denied in the year claimed, but be available in sequel years; (b) that there has not in sequel years been equal and opposite taxable income.
If half true, CFE will need to put the cash up and will get it back as and when income is produced.
I hope to be wrong but ...
CFE Price at posting:
23.5¢ Sentiment: Sell Disclosure: Held
