Super Tax

I've realised it's been ages since I've posted anything. Uni is pretty busy, but of course I should say something on the Super Tax. It really does annoy me, but I don't think that anyone knows much about it yet. One interesting thing is that it won't come into effect until late 2011, or legislation won't be introduced until then. That's when I graduate!! I guess I'll be looking forward to that time for graduation, but I really hope the Super Tax is changed (from how I understand it works). There's an interesting publication here that seems unbiased:-
http://www.ey.com/Publication/vwLUAssets/Resources_Super_Profit_Tax/$FILE/Mining_Pub_Resources_Super_Profits_Tax.pdf

From what I've seen of K Rudd (Why didn't we ever refer to J Horward like a rapper?) on the news while this was being announced, it seems like an unplanned idea that just slipped out. His point seemed to be that he was going to create heaps of money in the budget, by making sure it didn't go overseas with some offshore ownership of mining companies. His example, I think, was BHP - about 50-60% offshore ownership? My memory is pretty bad. This doesn't take into account how it will hurt Aussie investors, the economy and workers. To be honest, I doubt that offshore investors will be hurt by this, more likely that Aussie workers will lose their jobs. I'm just going off the media releases by Rudd, but this could be really damaging to the Australian economy. I hope I've got it wrong. I hope the government isn't just trying to leech more money out of something they already suck plenty out of. I guess I don't have a high regard for politicians when they are focussed on getting money to buy their next election.

Either way, it's a pretty big issue in the mining industry at the moment.

I only have 4wks of lectures to go until exams, and lots of 21st's as well (including my own), so it's about time i got stuck into uni work again.