First of all for those who haven't gone to the Annual Report, we...

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    First of all for those who haven't gone to the Annual Report, we are talking about tax losses here that haven't been recognised(as a benefit) in the Statement of Assets and Liabilities(Balance Sheet). I am guessing that the $156mil are Capital Losses that can only be used if Capital Profits are made - but this is no more than a guess.
 
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