After many fruitless calls, including to John Diasinos (name on last announcement), I spoke to Brent Wall today on 07 3112 2786, who was very clear and helpful.
The main current issue is selling properties connected with Record Reality.
My major concern was the possibility of having to pay tax without receiving any distributions, as mentioned in the 22 June 2009 announcement, because loans must be repaid with profits
Brent said hopefully they can reduce the profit with some deductions but I had my doubts and his explanation was a bit complex regarding the method.
We must keep in mind as presently entitled beneficiaries, we are liable for any tax.
Loan repayments are capital and not deductible against taxable income so hopefully they find a way to negate the tax.
MXQ Price at posting:
4.0¢ Sentiment: None Disclosure: Held
