40% Tax

It does not matter if it is Kevin Rudd's Labor government who put this tax, you can be 100% sure that if the Libs win in the future they will not remove the tax.
This is how things worked in Australia for many years.
Any noise that a politician make now is for their gain in the future, for sure when their political life ends they will be seating in the board of a big company or corporation. :mad:

I would love to see a politician prod of their country and look after their people and not the rich :mad:

Any negative rumor now by the "Experts" will benefit the rich and few purchasing cheap shares and then sell them in few months time at high price.

The issue here is who it is going to benefit from the Australian resources, the 95% + of the population a a buchn of rich people that do not care less about the Australians, their health or the country future.

IMO I do not like to see more Hunter Valleys in Oz and if we have to use of resources stop exporting the raw material now.

Time for coffee now ;)

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Originally Posted by Chucaro

It does not matter if it is Kevin Rudd's Labor government who put this tax, you can be 100% sure that if the Libs win in the future they will not remove the tax.
;)

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If I was 100% sure about anything it would be that the Libs would NOT support this and i believe they don't (just can't find a link).... LOL.

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Originally Posted by mns488

If I was 100% sure about anything it would be that the Libs would NOT support this and i believe they don't (just can't find a link).... LOL.

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That it is what I am trying to say, they do not support this today, they look good with their future employers and after if in goverment they will not remove the tax because......any excuse.;)

Just have a look how many ex politician from both parties are seating now or have a seating before in big company directors rooms ;)

This is interesting

The Australian Government is following the Henry review recommendation relating to the profits-based tax.

The Liberals complain that the Government is not implementing the recommendations if full.

The Minerals council itself has made a submission to the independent tax inquiry suggesting the resources tax be replaced with a profits-based tax.

HERE is a good reading about it.

australias leading banks have between them just released their profit figures of approx 100billion dollars
australias major mining companies have also released similar figures
there are also many smaller banks and mining corparations whose figures we dont see because their profits are only hundreds of millions......this is because media cant sensationalise them as easily
however it is rather crude to announce figures like these and then cry when the govt asks them to put their hands a little deeper into their pockets and give a little bit more back to the country that theyre raping in one form or another

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Originally Posted by ramblingboy42

australias leading banks have between them just released their profit figures of approx 100billion dollars
australias major mining companies have also released similar figures
there are also many smaller banks and mining corparations whose figures we dont see because their profits are only hundreds of millions......this is because media cant sensationalise them as easily
however it is rather crude to announce figures like these and then cry when the govt asks them to put their hands a little deeper into their pockets and give a little bit more back to the country that theyre raping in one form or another

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Hear hear Mate I back that to the hilt!!!Now all we need is a Government with the guts to do it..and that's from both sides of the political spectrum.Dreaming,I think, they all have a big yellow streak.

I don't understand how Taxing our way to prosperity is a good thing, Winston Churchill was dead against it.
To me it's the same as Fighting for Peace or trying to get your Virginty back through screwing.
Seems to me the Goverment just rented Avatar on video and decided that Miners are bad, naughty planet rapers.

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Originally Posted by Dorko

Yep... they dont realise how much perth needs the mining giants... it runs the state!


Dorko

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Try
RUNS THE COUNTRY!!!!!
Andrew

I cannot understand why everybody blame the goverment when the interested parties asked for an independent tax inquiry and submited on it the suggestion of this tax.
I am not labor supporter but we have to be fair, the Libs asked to implement the recomendations in FULL and the Miners Council asked for them.
Please read what it is going on and you will see that all of them manipulate the rest of the population. :(

Many commentators seem to be missing the point. The proposed tax is a tax on large profits being made by a certain economic sector. Profits taken from the exploitation of OUR resources. Yes, OURS. You and I, the citizens of Australia own these resources and should be paid a fair return for the exploitation of them.

Greed is endemic in the private sector. If one company will pass on a project because of the tax, another won't.

90% of the "mining companies" in Australia don't own a pick and shovel, let alone a wheelbarrow. They are minimally capitalised opportunists whose only asset is a brass plate on a lawyer's office in Sydney or Melbourne. Their prospecti mention, "farm ins", "joint ventures", " authority to prospect", "expression of interest". They don't actually do anything but hope someone else will and they can get an earn out of it. If publicly listed, they are among the penny dreadfuls. The mining boards on our stock exchanges are a bit like a day at the races looking for the touts and urgers. I learnt this selling mining equipment.