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I agree it's a no brainer but Chalmers and his "rethinking...

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Hingdog

23,705 Posts.

1500

21/06/23

23:24

Post #: 68408890
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Originally posted by chrisy ↑

The Albanese government needs to set up a replacement for the 10% OBU regime for traders, lest we lose all Australia will lose all of the progress we have made to be an APAC algo trading hub.

All of these high paying and skilled jobs will move to Singapore or Hong Kong instead.

It should be a no brainer for a government, you either collect 30% on $0 or 17% of hundreds of millions in trading profits + tax on trader salaries (at top marginal tax rate)...

Unfortunately I think the current government will not be so pragmatic. If Chalmers really wants to follow in the footsteps of his hero, Paul Keating, he would be wise to follow his example and engage in genuine reforms to spur internal and external market based competition.

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I agree it's a no brainer but Chalmers and his "rethinking capitalism" will be against it on principle without even considering the upsides. The ASX lacks liquidity in a big way, the more money that trades in our market the better for everyone, highly liquid capital markets are the backbone of a thriving economy
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