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But every industry went through the same period of uncertainty, yet didn't make the large layoffs..



The rich get richer and the poor get poorer, seems that the GFC hasn't affect some people too badly..

yeah, right. because the governemnt dont incentivise mining enough? whose books are you reading. Perhaps we wont super tax you, but you have to stop taking all the other money the government hand out for rent on mining leases and such. I think you'd take the super tax pretty quickly then.

congrats on the redundancy. Not everyone is so lucky to get a handout to get fired.

I suppose what I am saying is in the context of creating more local job opportunities... as well as saying that there is always a time to slap on more tax, just that the government has chosen the wrong time to do it... The resource industry has just started to pick up, just like moles starting to poke their heads out to see what's happening and where to go from here, the introduction of this tax effectively made the industry (moles) go back into their holes and hide for a while longer...

So what happens to the job market??? And engineers in some companies are effectively been told to hold off on further work until the uncertainty with this mining tax is resolved...

40% tax of $0 is still $0....

And no I will not take a hand out from the government at the expense of a poorly timed and poorly developed super tax... I never did agree with the previous hand-outs the government gave out anyway... IMO the consolidated hand-outs put into building infrastructures, etc has a more lastly effect on creating stability than people spending the hand-outs on beers and smokes...

I doubt the New Tax is the cause, we have written about this elsewhere, mining wont close down because of it, Australia have the best and most minerals, I think mining is on hold because of the insecurity of the money and share market caused by massive debt in certain countries, when GFC is sorted then mining will be in full swing, I think mining is using the tax as an excuse, they would have slowed anyhow, countries haven't got the $'s to buy what they are mining, mining co's aren't prepared to give credit, things will get back on track, I know a lot of people that gave up secure job's to chase big bucks and have been laid off with huge personal debt, earn big spend big, now they can't survive on a normal wage, but is 3 mines starting within 100 km's of here and employment is going to be huge, mines are almost ready to go, despite the tax, may not help you Ivan as you are tied down at the moment, good luck though I am sure something will turn up, is it worth you starting up your own business?

For more discussion on GFC and Super Profits Tax,
http://www.backyardaquaponics.com/forum/viewtopic.php?f=5&t=7532

Nocky, in the past I would have thought about starting my own business... not now, too much commitment and uncertainty for my current circumstance (family, etc)... but maybe a last resort... or I can go work for Joel (he was looking for someone some time back)...

Yes Ivan I had a computer business before GST that carried over into to GST times which as a single operator I found a pain, I took time out to help the parents run their hotel and when finished there couldn't be bothered with own business again, I found with the Missus working at school and me doing what ever I do we were earning heaps more and doing less hours, not stressing about BAS statements and doing the tax man's work for him, I must admit I would still hate to turn up and find I didn't have a job, but work is easy to find here, driving machinery or welding, even back to computers, we are fortunate that kids are off our hands and house almost paid for, and if we changed lifestyle we could survive on 1 wage easily, I think the work is there, depends what sort of work you are prepared to do,

You are very wrong about this. I have no idea how the Great Depression played out in Australia, but in the US things started to pick up (according to the government) and then the 2nd leg down hit. We are only in round 2 or 3 of this crisis.

Well I (and certainly some of my colleagues) have noticed an improvement in the mining section (jobs, projects, etc) until this super profit tax was announced, and it went pretty dead almost immediately...

I think you really need to give things a little more time to play out though Ivan, as you said before, things were going bad for 6-12 months, so pretty hard to then pin things on a tax released a week or two ago.

Well things were going bad for us in the Oil and Gas sector... Mining was starting to pick up momentum... but it is too late now, got to move on...

around my workplace a chill went through the air because of this tax.

The tax looks like being reduced, and it isn't even in yet, we have 3 mines starting up within 100 km's of here and they are going full steam ahead, why shouldn't they pay tax, if I earn over a certain limit I have to pay 48c in the dollar tax, almost half my pay, so why shouldn't they? they are only paying tax on PROFIT which was over $100,000,000,000 last year, if the profit stayed in Australia then no problem, but the bulk goes to the company owners based oversea's, the tax may slow things down, mainly because the big companies are using scare tactics, Australia has the best minerals and eventually the will have to be mined, if we have the quality product why shouldn't we charge for it? it's not the Government (can't beleive I said that) I actually beleive for once they are almost 100% correct, the greedy mining company bosses and shareholders (not the workers) are the ones causing the down turn, when the tax comes in all it will do is drive prices up so the Big Wigs can still have their $100b

Well ultimately who suffers when the mining companies use scare tactics on the government... the average working family as Rudd usually refers to... I have no problem with taxing the mining companies, but I have a problem with the way and timing this mining tax is being introduced...

The government did not put much effort into ensuring they have their facts right and that they have the sufficient answers for possible questions from the mining companies and that it is only a matter of working out the roll-out... No... The government could not answer many of the hard hitting questions from the mining companies... and there are many holes in their plan and what is worse is that the government is insisting that it is going ahead regardless..???

As I said earlier, timing is crap... the resource industry has only started picking up again, with projects (and hence employment opportunities) starting to move ahead... the introduction of this tax has stopped projects in both mining and Oil and gas from going ahead... whether it is scare tactics or not... it will have an impact on the "average working family"...

And while they are trying to sort things out, the "average working family" is getting screwed again... the mining bosses and the politicians are still getting paid... but are the average working family getting paid??

Tax or no tax, timing and planning is essential... if the way the governments runs the country lately, if they ran a public listed company in the same way, the company would have gone under long ago... or they would have been kicked out of the board long ago...

Anyways, there will always be a different of opinions... my opinion is the mining companies are putting a fight long enough and using whatever scare tactics required until Rudd has to call the election, and then it will be letting the "average working family" decide whether to keep the tax or not by electing...