Personally I think 40% is a bit too high.
Does PRC need to pay royalty for its coal mining, I'm not sure?
If PRC pays a dividend with a 28% imputation credit, it is not a benefit for those Oz shareholders if their annual income over A$35,000.
*note
Personal income tax for 2010 2011
$35,001 80,000 30%
$80,100 180,000 38%
$180,100 plus 45%
