Monday, June 14, 2010

more RSPT meetings

If you watched question time (parliament Australia) today and listened to the discussion you would have heard many times "Australia is going to have a superprofits tax" (Ferguson)You would be forgiven for wondering if there are more industries in their sights. There doesn't seem to be much room for negotiation.

If the government made an announcement declaring that: a supertax is going to apply to your chemist/dress shop/ newsagentcy/ car dealership or on the sale of your house - or that you will have to pay a 40% supertax on all profit over 6%.. what would you say?

start writing your response now.
this little battle for democracy is getting more revealing by the day.
Here's a news item from Brisbane today.
Proposed resources tax under fire at Brisbane forum
Tuesday June 15, 2010, 1:00 pm

The mining sector has continued its assault on the Federal Government's proposed resources tax at an industry conference in Brisbane.
Access Economics director Chris Richardson told the forum the tax is based on the flawed belief that the mining bonanza will continue forever.

"It may be that we end up shooting ourselves in the foot - that we slow down the sector through the period when these magic margins are at their best," he said.
Mr Richardson says the levy would tax entrepreneurial effort as well as minerals.
Minerals Council spokesman Mitch Hooke says the Government has deliberately misrepresented the sector's tax contribution.

"[It's] probably one of the most significant assaults on an industry that I've seen in my 20 years as a CEO in Canberra," he said.
Similar meetings will be held in Western Australia and South Australia later this week.

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