abc four corners hatchet job, page-245

Hi Contraindicator

I don't give two hoots how foreigners look at the risk in Australia. If you think that is our biggest problem then you guys are a joke. i repeat our sovereign risk is in not owning what we have. We are a basket case. The biggest sovereign risk is in foreigners owing our assets and telling us what to do. As is the case now.
Also you guys keep shifting the argument. First is was all profits are reinvested in Australia. Now its "after dividends". Duh! Hello! Without getting emotional, re read your own post and see what you are implying.
Foreign companies make huge investments in australia, and never take anything out. they just keep reinvesting. And just what planet do you live on? Gee we have a bunch of altruistic investors.
You have not addressed the balance of payments issue. I suggest that if you have a close look at it, you will find that we are in deficit because of profits being repatriated.

On the tax issue, if I build a factory to produce cars, can i claim 100% of this cost up front? No I get to depreciate it at 2.5% pa. The mining industry gets 100 to 150% up front! Look at the whole picture!
I then have to buy my inputs such as steel, tyres etc.
I have to buy them! They are not a car until I buy and construct them. This cost is the equivelant of the mining industry paying the royalty for the minerals which are in the ground. To suggest that it is a tax is ludicrous. Are you suggesting that they get the minerals for free? The fact that pay this to the "people of Australia" does not make it a tax.

I don't buy your excuses that its alright for the Australian people to subsidise the mining industries becuase of location etc etc. That is the nature of the beast.

What you guys are really saying is what farmers have always said. "Socialise our losses and privatise our profits."

Again I ask you guys that if you are going to have a tax discussion look at the whole issue, not just one side.

Projects will be taken on "by companies which don't care if they make a profit"! Really! and you call my arguments shallow. It is funny, it really is.


Pear