This basically relates to timing differences between when the...

This basically relates to timing differences between when the Australian Tax Office recognises tax should be paid and when/how the Australian Accounting Standards prescribe that a company should account for tax.

The tax office taxes the company on any gain when it actually sells the SYR shares, whilst the company includes the movement in value of the shares for the year as income, and a notional tax is accounted for then.

In cash flow terms, when the company sells the shares (assumed at a profit) it will actually pay 30% tax on those shares, and can use any accumulated losses, provided it meets a few criteria:

http://www.ato.gov.au/corporate/content.aspx?doc=/content/00262223.htm&page=10

All that said, as previously noted, I would prefer they distibute my portion of shares to me, whereby I can control when to sell and who to sell them to, as well as potentially benefitting from the 50% CGT discount.