January 1st brings with it the new taxing regime that Stanhope government has rammed through the Assembly in the last budget. This was brought in to gouge a couple of extra million dollars from utility companies in order to fund the Government’s ineptness in properly managing the local economy.
The Australian has an article HERE
The ABC has an article HERE
We ought to set up a price watch and see how long it takes for the Utilitiy companies to pass on the tax and how much this actually equates to. It will be interesting to see if they raise prices to actually cover their costs or use it as an attempt to make extra profit themselves!