And when a LOAN is repaid, it attracts NO tax or any other such impositions...as opposed to a dividend.
Now we might argue that the Pines Gov is paying the tax bill on Galoc earnings from their 60% share so it shouldn't matter, and that would be a correct assumption, but that's Pines tax, and is only taken into consideration by the ATO in determining if anything is payable in Oz for an Aust coy with an o'seas income.
So when GPC have money to fork out, they pay us our share...it's up to us how we account it.
I'm not exactly sure why OEL didn't write down that whole GPC loan...I'm sure they have their reasons.
And when a LOAN is repaid, it attracts NO tax or any other such...
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