trading under cash backing, page-25

An old rule in 1970's was that investment companies holding blue chip stocks and cash would trade at 70% of liquidation prices but with tax changes a good example to look at how 3 different tax treatments can affect the value of a stock like CSE Copper Strike by reading accountants report of the value of its holding of 55 million shares in Syrah where it assumes it can sell them at $5 per share which is about $1.50 more than current price however if your an individual you far the worst but if you are a super fund you do the best out of a share liquidation & redistribution. Worth a read of it which i did for showing the poor taxation policy we have as it relates to high personal income tax rates in Australia where an individual has to chase mega returns more than super funds to be as well off as superfunds.