Sydney Airport

After peaking at $3.61 prior to Christmas, Sydney Airport securities have subsequently fallen 14% to $3.11. Understandably, some securityholders are nervous. A small part of the fall – 10 cents – can be explained by the stock trading ex distribution on 21 December. That same day, Sydney Airport announced the receipt of an ATO position paper which outlines a potential tax liability of $79m (plus interest and penalties) applying to 2010 and 2011. Sydney Airport believes its current treatment is correct, but if that proves false the subsequent tax bill might explain another 5 cents of the fall. More...

After peaking at $3.61 prior to Christmas, Sydney Airport securities have subsequently fallen 14% to $3.11. Understandably, some securityholders are nervous. A small part of the fall – 10 cents – can be explained by the stock trading ex distribution on 21 December. That same day, Sydney Airport announced the receipt of an ATO position paper which outlines a potential tax liability of $79m (plus interest and penalties) applying to 2010 and 2011. Sydney Airport believes its current treatment is correct, but if that proves false the subsequent tax bill might explain another 5 cents of the fall.

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