Ann: Increased Mineralisation at Chatree South-East Complex, page-67

It depends on how you use it for your profit and loss. Is it a depreciable asset or not? If it is considered as a Holding Cost, you can't claim deductions, however, if Anglo-American still own the lease then they can claim a deduction. If the land is intended for mining and leased by KCN as part of the business model, you may be able to claim deductions for expenses related to the land. This includes costs incurred in preparing the land for mining activities etc. I don't know the full story with Chile, Anglo and KCN, I would imagine they would be doing their best to write off some expenses.

I just sold 6000sqm in Greece. The Greek government (GTO) Greek Tax Office does not charge a GST nor a duty on sold property. Ill just pay an income tax in December 31st 2026. This includes a property tax that is 3% scalable as it depends on where and what the property was zoned for. In Australia, on the other hand, won't allow me to claim a deduction for money spent in a foreign country. If I bring this money into the country I'm eligible to pay a 25% capital gains, unless I can explain where the funds came from. (drugs, human traffic, etc)

This amount can be mitigated by having your Greek accountant right-off the sale as a loss. So for example, I wanted to sell this property for 1,000,000 euros and was only offered and accepted 600,000 euros, then I can write the ATO capital gains tax. This is why most people I deal with pay no tax year in year out. If you own a full franked share in Australia you can mitigate you 39% company tax against you 100% franked dividend. So at the end of the day, your accountants fees are paid, legal paid leaving you with a surplus in retained earnings for the next year. Doesn't anyone remember Kerry Packers' tax bill was $1200 after he bought back Channel 9 back off Alan Bond.

You don't need a high-priced CFO to tell you how to manipulate the tax codes (legally) to your advantage. If KCN are paying water rights, leases electricity availability then I don't see a problem. I hope they at least have a legal and accounting firm in Santiago to process all this with their accountants here in Sydney. By the way who is KCN's accountants and legal?