Ann: Trading Halt-PIO.AX, page-205

"An old Mantra " if you owe tax " you've made money !!!"

That wasnt always valid.
50 years back the max tax rate was about 67%.................
So if you made $1,000,000 you were up for $670,000 in tax.

However, "unearned" income such as interest or profit from shares attracted a "provisional tax" at the same high rate, payable in advance for the following year....

So you owed the ATO $1,340,000 tax on that $1mill profit.....

A couple of guys who held Poseidon shares at $270 in the nickel boom were thus too daunted to sell..

GZ