Wednesday, 20 June 2012
Tax Laws Amendment (2012 Measures No. 2) Bill 2012, Income Tax (Managed Investment Trust Withholding Tax) Amendment Bill 2012, Pay As You Go Withholding Non-compliance Tax Bill 2012; Consideration in Detail
How many shares have you guys bought in the clean energy companies? None. That is how confident you are about the clean energy market. The hypocrites sit over there. But let me get back to this.
It is another backflip of this government and the trashing of the budget. We see $400 million being removed from the surplus that we are supposed to see in September 2013, yet there is no explanation of how that is going to be made up and what the rationale is for pulling it out of this bill and seeking to maybe reintroduce it at some point in time. There is no certainty about when it is going to be reintroduced or what tax rate it is going to be reintroduced at. It is just another of the myriad examples of the inability of this government to create certainty and a clear direction for the future of this country and the future of our economy. In addition, we have seen the retrospective nature of a number of things proposed in bills last night and again today. It is just a sad indictment of the failure of this government to engender any confidence in our economy for the future.