Thecuriousmail’s Weblog

AUSTRALIAN ACCOUNTING 101

Posted in Uncategorized by thecuriousmail on July 15, 2010

Recent winner of the ‘Ms Political Intrigue’ pageant, and new Australian

Prime Minister, Julia Gillard, was today awarded  the Creative Accounting

Prize of 2010.

“The awards keep coming, don’t they,” said Ms Gillard. “I’m so proud of them

all, each and every one of them, and I’m humbled by the good opinion voters

have of my skillful deception.”

According to the Prime Minister, their back-down on the mining industry super profits tax meant only a small

decrease in the anticipated tax revenue. However Treasury Head Ken Henry said the new tax revenue

calculations are premised on higher future mineral prices. The two revenue calculations are fundamentally

different, but presented (hand on heart) as comparable. So they have lowered the tax rate, but increased the

amount of money they think will be taxable, giving only a slightly lower revenue than the original amount.

 Pick a number to suit political motives, and then lie! What do you think of this disgraceful  political spin

by the prime minster? What an example of dishonesty! Watch and learn kids, and emulate (or not!).

On her Creative Accounting Award, the prime minister said: “Go Australia! You ain’t seen nothin yet!”

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