Open thread for the weekend

Thoughts anyone?

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malcolm
malcolm
15 years ago

the government is reported (crikey, item 12 august 18) to be in the process of scrapping capital gains tax for foreign buyers of non-real estate australian assets.

i have been following troppo for a while and recognise the knowledge and expertise contributed on a wide range of issues. maybe someone can answer a few questions:
1. do you know the rationale for the government’s introduction of this legislation?
2. does the legislation effectively mean that a foreign entity which debt funds a purchase of an australian enterprise might then pay no tax on profits (because the money goes to service debt), sack staff to increase net revenue and the enterprise’s value, then sell the asset for a gain of perhaps billions of dollars without paying capital gains tax?
3. there’s no doubt a monetary gain by individual shareholders in the enterprise, but what are the benefits(costs) to australia as a whole of facilitating this process by giving foreign buyers a tax advantage over australian entities?

Tony Harris
Tony Harris(@tony-harris)
15 years ago

On the topic of Vietnam, wars and related matters, people might like to be reminded that we had four conscription debates last century.

http://badanalysis.com/catallaxy/?p=1906

On conscientious objection, at the time of Vietnam the law was loaded against secular humanists and people who were not pacifists. Selective objection was not permitted. Years later there was a Senate review of the matter and sensible reforms ensued. I posted on that a couple of years ago and will find the post later in the day.

Tony Harris
Tony Harris(@tony-harris)
15 years ago

Conscription in WWI was blocked by the Labor reps in the Federal Senate, after Billy Hughes had the numbers in the lower house through a combination of the non-Labor opposition and the 15 or 16 Labor members who supported him and lwalked out of the party with him.

The referendums of 1916 and 1917 were supposed to force the hand of the Senate recalcitrants by the weight of public opinion. It was assumed by everyone, including Les Darcy, that the Yes (for conscription) vote would get up and conscription would ensue.

But what if the yes vote did get up? What obligation did members of the Senate have to follow public opinion?

In the ALP caucus the vote for the referendum only got up by about two votes, after two days of debate.

A joint sitting of both houses would have carried the day for conscription, how could that have been triggered?

CONSCIENTIOUS OBJECTION

As promised, a report on the law reform after the Vietnam War to allow for selective conscientious objection and other options.

http://badanalysis.com/catallaxy/?p=760

whyisitso
whyisitso
15 years ago

Testing

whyisitso
whyisitso
15 years ago

Hey, have I been resurrected? Perhaps Homer has been interceding on my behalf. Or even Jason Soon. No perhaps not the latter.