May 7, 2010

Super things

While Mr Swan lost his memory, Prime Minister Kev Rudd explained the matter of "super profits":
''A super profit will be defined as if you've got a company which is earning, which is investing a certain amount of money, what you're then to do is to deduct their expenses, what you're then to do also is to deduct further, the amount of money which would be calculated if, for example, they were investing their funds in long-term bond markets,'' he said.

''In other words, what would constitute a reasonable rate of return on investment.''
And let that be a lesson to you all!

When you don't get more than four hours sleep a night you speak gibberish.

6 comments:

  1. It always makes me laugh when they say they are going to make taxation simpler, and then do exactly the opposite. I tried to understand the bit about the change to superannuation but decided life was too short, put my fingers in my ears and said "lalalalalala" instead.

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  2. "Stop stop stop talking that
    Blah blah blah think youl be getting this nah nah nah
    Not in the back of my car car car
    If you keep talking that blah blah blah blah blah."

    Kesha's song sums it up for me..

    http://www.youtube.com/watch?v=4dogXk1KmRI

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  3. Hush your mouths naysayers. I'll have you know I made a very comfortable living out of the Australian corporate and international taxation laws. Very comfortable indeed. So comfortable I was able to retire at 43 and think about doing something that was not totally pointless. And think about it I did ...

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  4. So Geoff, by Kev's logic, you made a reasonable rate of return on your investment, which was super, really super!

    Dan - Ken Henry made 138 recommendations, the gov't is implementing four and throwing in one that was not in the report - increasing the superannuation mandatory contribution.

    Henry must be gutted that his once in a generation review has, essentially, been ignored.

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  5. Maybe we're about due for an annual increase in politician's stuper-annuation?

    (This comment's not only lame but late. For some reason I can't comment on a few blogs at work, this is one of them. Something to do with html, also maybe the IE6 we have at work).

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  6. Tim - maybe I'm blocked due to my daring and risque content!

    Oooh, it's almost like being a poor-man's Catherine Deveny.

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