You've got a view on the miners and any preferred picks in that space?

Yeah, so we generally like mining for dividends.

And one of the reasons is that miners pay a third of the tax on average across the cycle.

Total Australian company tax, about a third is paid by miners.

And so that means when they pay tax, they generate franking credits and then they want to pay that.

pay them out as dividends.

And so we think mining is a good place to get dividends.

Buy hold or a sell.

Buy hold or a sell?

It's a sell for us, but its yield is actually not too bad at the moment.

It's a 4% gross yield when you include the franking credit.

So those increases have gone through and the price has come back recently.

So it's actually not looking too bad value at the moment, but we do think it's a little bit expensive at the moment.

And there is a risk around Cargrip as well, particularly with other major technology players that could look to replicate what Cargrip do too.

So overall, it's a decent company, but yeah, we wait for a lower entry point and also for the risks around that kind of cycle environment that we're in at the moment in terms of property prices going down, consumers are spending less on big ticket items like cars.

If that's Mike's king of the package, you've got an ace for us on the dividend front, Pete.

What impact do you think the recent budget changes will have on, uh, equity income investing?

Yeah, it's a good question.

Um, I mean, I think the budget changes are definitely kind of negative for growth investing, um, in terms of increasing the taxes and therefore reducing the after-tax outcome for that.

Um, however, if you're looking at income investing, it's complicated because, um, the impact of the budget was obviously very negative for property, and so some of the banks and the consumer discretionary stocks, which you'd usually, usually classify as income stocks, they took a real hit after the budget because we expect property prices to fall, and therefore people's spending on con- consumer discretionary to fall a bit.

And so it's definitely complicated.

There are some income stocks that could potentially benefit from this.

Um, the other thing to note is that because there was no changes to super and no changes to foreign investors as well, um, they are a kind of large, own a large chunk of our market as well, so I'm not convinced that these changes will in, in and of themselves make too many changes to equity prices.

What do you have for us?