Our miners pay close to zero tax and are being subsidised by the govmnt. Brics+ central banks are draining the comex market and beefing up their coffers with gold bullion on what looks to be a gold based commodities trading system. What does our government try to do atm? Remove their oversite over our reserve bank. Who's incharge? Re: removal of "section 11" if you think the CRE (commercial real estate) crisis in the US will not be mirrored here please put your glasses on. IMO the result will decimate the Australian Superfunds, banks and insurance companies. Switch super to the cash option? Not a bad idea but please read the fine print on where your cash is invested in your superfund. It is still invested in financial instruments that will be influenced by the above. To sure up our financial credibility and the reserve bank we need to start accumulating gold. A 2.5% tax on all gold miners who process more than 1000 ounces of gold, above what is now $3m worth. The tax to be paid in gold to our public owned? Reserve Bank. US hegemony is on the decline, inflation going up, our $au is also going to get trounced as it has no backing. We have the commodities you say? look at brics+, it is all about trade with no fear of neocon sanctions as no $US in the mix. China moving to africa, brazil... for it's iron ore and dozens of other commodities. US petro dollar is already unwinding. Every Australian owns $US50k in au govmnt debt, the US is twice that. Add personal debt?
Its only fair to start a conversation about introducing a tax based on actual commodities. Qatar has a tax of over 80% on its natural gas exports and the oil companies are still there, what do ours pay?
