Having run trusts for years, and some quite large,I point out that there are two types of profits, namely accountancy profits and statutory profits. These are NOT the same numbers. It is the accountancy profits that are reported to ASX and the statutory to ATO and where tax liabilities are calculated. From memory, asset revaluations are included in accountancy profits but statutory profits only include actual capital gains made on asset sales.
CER Price at posting:
34.5¢ Sentiment: Hold Disclosure: Held
