Ann: JV Receives Approval to Develop Oakdale West, page-15

Hi @Tinwins, Yes if the entities are the same. So If it's in a company you may have to wait until you make a capital gain in that company. We have never had the luxury of a consolidated tax entity as our shareholders are different or in different ratios. We have found it more difficult in an Investment company which has a lot of very low traded shares and then you make a big mistake and this capital loss has to have a few years to get utilised. The companies have been formed out of decisions at various times and the few investors have had different resources at the times of start-up.

We never intended it but it's like an old house you keep adding to it but its a bolt-on and not ideal.