This was shocking to read the recommendations of Ken Henry to Mr Kevin Rudd, that other australian business to have the 40% tax on profit. Well how much more do you want to destroy this country Ken Henry, you are a loopi person in the head. Sack this guy. KEVIN Rudd has ruled out his Government imposing a super-profits style tax on other sectors of the economy. Treasury Secretary Ken Henry yesterday suggested future governments would need to consider taxing companies only on above-normal profits under a similar system to Labor's proposed resource super profits tax.
Under such a system highly-profitable companies would pay more tax, he told tax professionals.
"The Government will not be adopting that model in Australia," the Prime Minister told Parliament in response to a question from Opposition Leader Tony Abbott.
"The bottom line is the Government's position in relation to the resource super profits tax is that it applies to non-renewable resources in Australia."
Earlier the Opposition claimed Dr Henry had exposed a secret tax agenda, saying the Government was planning to ultimately extend its new 40 per cent impost to retail, banking, manufacturing, small business and agriculture.
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"If the Government goes ahead and imposes its super profits tax on every company in Australia it will strike at the heart of our prosperity," Opposition finance spokesman Andrew Robb said.
"It's madness if they proceed with this proposal."
