RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Budget 2024 Happy to be wrong and glad to have your input. Thanks.
GLTA
randomexplore wrote: The sale of any oil and gas property is a COGPE (10% decling balance) tax pool to the buyer. Cardinal would "burn" existing tax pools to the same amount. Thus ZERO taxes payable.
There is no Capital gain calcualtion versus its "book value". Capital gains for oil companies only come into effect if they had taken back stock on a sale, then sold that stock for a profit. That does not apply to Cardinal.
This whole discussion shows a lack of knowledge of the oil tax effect.
The budget does not effect Cardinal at all.