The South Australian blackout debacle was not caused by a once-in-a-lifetime storm, as I documented at this blog post.
Today is windy in Victoria. The data below shows how the wind at St Kilda harbour (just 5km from the CBD) has been rising all day. Compare this data against the data in my earlier post from South Australia. Very similar.
This weather is not abnormal.
Why does Australia have a corporate tax rate? What does it mean to tax a legal construct that is not actually a person?
In large part, it means complexity in tax laws, regulations, numerous bureaucrats, advisors, accountants, court cases and government regulators. So much wasted time and nugatory effort. Think about the advantages in freeing those people from the daily tax grind and allowing them to do something more useful, something that would be valued by other people in society.
A corporation is merely a means of allowing investors, entrepreneurs, managers and customers to cooperate efficiently. It was the concept of the limited liability company structure, devised and refined over 200 years ago that allowed investors to participate in shares, with their liability limited to their investment. Continue reading
The report below comes from The Australian newspaper today. It suggests that there is further trouble coming down the line (pun intended) for South Australia. Problems with infrastructure take time to fix. Yet, as I pointed out in this post, very windy weather is a monthly occurrence. The worst Government response would be to continue to blame a once-in-a-lifetime storm (which it wasn’t) and continue with the current policies of power generation and distribution.
Australian Actuary 