Henry Report

[HigginsHawk]

Less popular than a fart in an elevator it appears. I have managed to read about 2/3's of it and the response with the stuff that relates to my work.

Has this been a bigger waste of money and time than the ETS and insulation problems? I feel sorry for Ken and his team after putting so much effort into it for it to be dismissed so quickly.

Anybody else have any comments or thoughts?

 

[Equus]

Why did they even do a report in the first place?

 

[r dub 19]

Silly idea really. I guess he had to find a way to pay back debt.

 

[Scotland]

Highly paid public servants commission highly paid public servants to prepare an in-depth report for the former highly paid public servants to for the most part ignore.

Welcome to government.

 

[Mean Muggin]

Less popular than a fart in an elevator it appears. I have managed to read about 2/3's of it and the response with the stuff that relates to my work.

Has this been a bigger waste of money and time than the ETS and insulation problems? I feel sorry for Ken and his team after putting so much effort into it for it to be dismissed so quickly.

Anybody else have any comments or thoughts?

How did the Henry Report affect AASB 112 - Income Taxes.

Is that your field Higgins Hawk?

 

[HigginsHawk]

Sort of my field but I'll leave that for the institute to provide an announcement on. My stuff is mainly tax advice, bus services and planning for ind, small & med business.

 

[Mean Muggin]

What's your opinion on ED 192? In relation to the two tiered system, being it is largely about SME's and in your field.

A more personal question, but do you like the tax side of accounting? I like it more than I first thought!

 

[HigginsHawk]

It's all a bit of a laugh really. They talk about trying to simplify thing for business yet they are constantly changing things. I started in the early 90's when we had about 15 accounting standards, went through the corporations/companys change in the mid late 90s, moving to international accounting standards etc.

Tax is interesting but not many people seem to want to get into it. When I did the CA program I was the only one in my class that had worked in tax. I'm pretty sure I will always have a job because it's always changing.

 

[Visions]

Less popular than a fart in an elevator it appears. I have managed to read about 2/3's of it and the response with the stuff that relates to my work.

Has this been a bigger waste of money and time than the ETS and insulation problems? I feel sorry for Ken and his team after putting so much effort into it for it to be dismissed so quickly.

Anybody else have any comments or thoughts?

No, it took the government 5 or so months to dismiss almost all of it, or in political terms, anything that would scare off voters.

As for the Super change proposed, good luck to salary workers negotiating pay rises in the next 10 years. Employers will be saving money to pay for it.

 

[BomberDog]

The "Resource Super Profit Tax" is a total disgrace.

The Australian government is nationalising 40% of every resource in Australia. Think 40% of the way to Venezuela.

There are some offsets in the form of royalty relief, and gradual reimbursement of 40% of book value (if investment already conducted).

But still a total robbery from anyone that has superannuation (that is right, the government has just reached into your super to take money from the ASX mining companies in there to pay for their next round of bungled stimulus programs and wealth redistribution ideas).

Listen to the language: "the resources of Australia belong to the people!"...that's right, we have heard all sorts of African governments/military dictatorships declare that in the past.

 

[nut]

The "Resource Super Profit Tax" is a total disgrace.

The Australian government is nationalising 40% of every resource in Australia. Think 40% of the way to Venezuela.

There are some offsets in the form of royalty relief, and gradual reimbursement of 40% of book value (if investment already conducted).

But still a total robbery from anyone that has superannuation (that is right, the government has just reached into your super to take money from the ASX mining companies in there to pay for their next round of bungled stimulus programs and wealth redistribution ideas).

Listen to the language: "the resources of Australia belong to the people!"...that's right, we have heard all sorts of African governments/military dictatorships declare that in the past.

http://en.wikipedia.org/wiki/The_Government_Pension_Fund_of_Norway

Hers is 500 billion reasons why a Nationalised Natural resourse fund is a good idea.... and it's growing by approximately 187 million a day....