Replies to post #5573 on Alloy Steel Inc. (fka AYSI)

[gilead23]

Battle is on

"Aside from resource-industry opposition, the proposal could set up a legislative fight. The government lacks a majority in the Senate, Australia's upper legislative house, with minor parties holding the balance of power. The government has yet to fix a timetable for pushing through the tax proposal, although it has established a panel to discuss it with industry in coming weeks.

Tony Abbott, leader of Australia's main conservative Liberal-National opposition, described it as a "tax grab, not tax reform" that puts at risk investment and jobs in one of the most productive sectors of the economy."

My guess is that something gets implemented here but not at nearly the level the government wants. Looking around there is plenty of opposition and the fact they are setting up a panel to discuss it with the industry is a pretty good indicator there is going to be some kind of compromise.