Ann: Quarterly Report - October to December 2023, page-47

they didn't pay tax during the 2022 financial year (nothing significant) hence why the dividend paid in Sep22 was unfranked. They wouldn't have paid the 2022 tax liability until 1 December 2022.

If you don't believe they paid tax for the 2022 Financial year, care to explain, as i assume you think you have a history in corporate tax, the tax they paid in the 6 months from 1 July 2022 to 31 December 2022 of $44.8 million relates to what financial year?
The tax liability as at 30 June 2022 of $44.7 million, when was that paid, in your opinion?
What year does the $44.7 million of income tax liability as at 30 June 2022, relate to?
In the interim financial statements to 31 December 2022, they paid $44.8 million of income tax, what period does this relate to?


"They were paying tax on FY23 during FY23, so they could pay out franking credits."

Again, as i stated above, the tax paid in 2023 for the 2023 financial year would have only been from February 2023 after they lodged the 2022 ITR in Jan 23 when they would have received a PAYG tax instalment rate, as stated above, up to 2021 they were making loses therefore the instalment rate would have been 0.0%. As per the 2023 Cash Flow statement they paid a total of $79.6 million in tax (assume this is all Australia as RSA is an associate). Of this $44.7 million would relate to the 2022 FY and the balance of $34.9 would be for the 2023 FY. For the 2023 FY, they accrued current tax of $99.3 million of current tax, of which as stated in the prior sentence, paid $34.9 million leaving a tax liability as at 30 June 2023 of $64.4 million (which happens to be the amount on the balance sheet, fancy that). All this information you can find in the 2023 Financial Report and or the 31 December 2023 Interim financial report.