WBC 0.05% $31.10 westpac banking corporation

has anybody read 26th ann?

  1. 1,927 Posts.
    Today WBC is in red and I was thinking why and I read and reread WBC ann on 26th October impact of tax consolidation of St.George Bank merger.
    I quote a para:
    tax payable in 2010 that will be recorded in Full Year 2010. After these adjustments, the total Australian tax paid/payable by Westpac over the two financial years 2009
    and 2010 is around $4.5 billion.
    As stated above, the adjustments to the tax paid/payable in 2009 and 2010 as a result of the determination of the tax consolidation outcome will need to be included
    in Westpac�s Full Year 2010 statutory net profit. Had this process been completed within 12 months of the St.George Bank merger date, these adjustments would have
    been treated differently for accounting purposes and processed as a reduction in merger goodwill. This would have effectively reduced the merger price by 6% to
    $11.5 billion.
    unquote
    The red signal is on in sp. Can somebody enlighten more and prediction on profit result on 3/11.
 
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