time to feel good about cvn, page-37

John,

Be reasonable please.

We do not yet have the FY08 report, therefore how can we read the "facts" in it.

Even when we do have it, it will tell us little about what SRB rate to expect for FY09 [which is of much more interest to me than 08 now], due to the progressive nature of the tax.

Unless you have some better info you wish to share with us, I suggest we give Hartleys the credit for at least having worked through the (relatively tricky) SRB regime, and having come up with a reasonable approxamation. If you first subtract all other charges to profit for the Hartleys April calc of for FY09, the total govt take is roughly 74%. This still does not take into account any withholding taxes on repatriation of dividends.

John, you may be able to read the facts in the FY08 report, but my crystall ball can't see that far forward for all the turmoil atm.

EL