i have heard of share prices getting smashed.., page-10

Hi Mozart - My sentiments exactly. The value wiped out of Australian resource companies today will more than offset any gains in taxation. Just how much CGT will the government miss out one now? I know how big a hit my portfolio took today, but what about my super account? Is the additional 3% by 2020 going to make up for it?

I was at an AMEC meeting perhaps 12-18 months ago discussing sovereign risk in Australia and the Labor party with a representative of a Uranium company. Kinda got laughed at then, but here it is happening on a much wider scale.

It is hard to see where the funding for investment is going to come from if the Commonwealth has a record of coming in and taking it when it suits them.

Oh, they will use the funds for infrastructure will they? Give their track record of getting value (eg BER, Insulation), a rail for BRM will end up costing over $20 billion. More likely they will find the money all spent just after the first sleeper is laid.

Egads I'm in a bad mood today!