Discussion: Mining Tax Surprise
in: blairtrewin; blairtrewin > 2010-06-02
Jun 7, 2010 12:29 AM
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Not sure what you can read in to a lack of conversation. Most people I would say are gobsmacked by:
* the Government ambushing its main export industry with an onerous tax
* the amazing difference between what the Govt and others say miners pay in tax (Gillard-Swan say 13% (overseas) and 17% (domestic) vs 41.3% as per the ATO)
* the damage that has already been caused to "Net Present Value" of mining projects and of share holdings by super funds
* the idea that the Government will start refunding 40% of spending on failed mining projects during the next bust
* and the idea that Henry/Swan/Rudd think that is worth something now
* the extraordinary backflip of Rudd to employ what he himself described as a "cancer on democracy" to attack the mining industry
* the transparent attempt by Rudd to pick a target where he can appear "tough" after his pathetic shelving of the ETS - when climate change was according to Rudd "the greatest moral, economic and environmental challenge of our generation".
What is now clear is that the ALP has made a huge mistake in elevating Rudd, and more particularly allowing him to centralise power to himself and his small coterie of ill-informed and narrow minded advisers.
* the Government ambushing its main export industry with an onerous tax
* the amazing difference between what the Govt and others say miners pay in tax (Gillard-Swan say 13% (overseas) and 17% (domestic) vs 41.3% as per the ATO)
* the damage that has already been caused to "Net Present Value" of mining projects and of share holdings by super funds
* the idea that the Government will start refunding 40% of spending on failed mining projects during the next bust
* and the idea that Henry/Swan/Rudd think that is worth something now
* the extraordinary backflip of Rudd to employ what he himself described as a "cancer on democracy" to attack the mining industry
* the transparent attempt by Rudd to pick a target where he can appear "tough" after his pathetic shelving of the ETS - when climate change was according to Rudd "the greatest moral, economic and environmental challenge of our generation".
What is now clear is that the ALP has made a huge mistake in elevating Rudd, and more particularly allowing him to centralise power to himself and his small coterie of ill-informed and narrow minded advisers.
This discussion thread is closed.