Ian Verrender

Do you save that much more money?

Probably.

But look, it makes perfect sense to at least bring the taxation on family trusts into line with company tax, which is 30%.

And that's what we've seen with the changes to superannuation as well, where you basically are increasing the

You're allowed a certain amount.

I think it's, what is it, $3 million or something on a tax effective.

Beyond that, you're going to be paying pretty much the company rate of tax.

I think it'd be welcomed by Australia.

Everyone's been clamouring for it.

But I think the interesting thing here is the impact that this is going to have on global oil prices because here's Australia doing this.

Guess what?

Every country in the world will be looking at how much fuel they have in reserve and they'll be trying to do exactly the same thing.

Bear in mind too that the International Energy Agency has already released about 400 million barrels of oil.

They're going to be looking to buy...

oil out of the market once the war is over to refill those supplies.

You're going to have every country in the world looking to build up their stocks.

And so energy prices are going to remain elevated for a very long period of time.

You've got all of these ships locked up in the Gulf, which is causing this crisis now.

But even once all the shipping, all the logistics, all those problems are solved, you're going to have increased demand from around the world, exactly like

the federal government here is doing.