Monday, 05 July 2010 00:00
The Resources Super Profits Tax (RSPT) comprised two aspects. One was its naked theft of decades of shareholder investment. The other was a tax increase on new mines that would derail the locomotive of the Australian economy. See this commentary on the tax and the revenue projections on ABC's The Drum by Alan Moran of the Institute of Public Affairs.
Opposition treasury spokesman Joe Hockey said a Coalition government would “unwind” compensation arrangements, along with the carbon tax. See the full story in The Australian
Read more<The attempt over the weekend to spin the Carbon Tax as a 'tax cut' is just more of the spin we can expect to see from the Government as it tries to impose its Carbon Tax without a mandate and without popular support. The Australian late today reports that none of the impacts of the Carbon Tax or the so-called tax cuts will form part of the Budget or the proposed Summit. This is, of course ridiculous with the Budget presuming to portray revenues and expenditures over the four year forward estimates.
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