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
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