"super" profit rate up 7% to ~13% Capital written off in year 1 Tax rate at 29% super profit rate at 30%
will be interesting to see the impact of the capital write off. on the face of it, it would seem that an investment of $1.5Bn would offset the tax for 5 odd years even on the most bullish of IO prices. If you use Burnell's base case, super profits will NEVER be paid.
Will be interesting to work through the details in the fullness of time, but does appear to be ok for BRM.
Will be interesting to see what comes out over the course of the day.
BRM Price at posting:
$2.94 Sentiment: Buy Disclosure: Held
