Have thought about it heaps raiderup. I agree 100% with the 2 prongs.
Agree with Ken Henry as to if it's worth it now as a lot of the idea was to make taxation more simple. The MRRT and extended PRRT is hardly simple.
The name "super profits" is due to economic terms, a normal profit is the money you make to make running a business worthwhile, i.e making enough to pay wages. A super normal profit is anything above that. The biggest problem with the name was that hardly anyone knew what the actual terms meant and then assumed that it meant anything over the LTBR which is wrong. The original RSPT applied on every single cent of resource profit, it just got uplifted at the LTBR to compensate for the delay in payment.
Bad marketing all round. Not a chance in hell of explaining it properly to the masses. Better off waiting for the crap to hit the fan and get the masses understanding the need for and wanting a change to the system. May be best if Abbott does repeal it if he gets in so we can do it again better.
As I said earlier, I don't think Twiggy's changes added anything to the debate. Part of the RSPT/MRRT goes to infrastructure funds for the states collecting it so his wanting to claim a deduction for infrastructure spending is neither here or there. He just gets to choose the infrastructure which I'm sure would be to the benefit of the Company rather than the state imo.
