From TDS tonight:
"For markets, the tax is within expectations. Nevertheless, we will probably see equities lower on Monday, led by LNG producers. Simply putting official estimates to the economic impact (e.g. slower national income growth) makes it ‘real’ for investors who will now discount Australia’s future growth potential and lower the return on equity. AUD should underperform on a weaker outlook for equities. Expectations for future rate cuts may be shifted further out the curve (even though the RBA will look through the tax’s impact). But because the tax is within expectations, these near-term responses will probably be priced out by the end of this week; hence investors could look to fade the move. Broader macro factors such as the high AUD, global growth concerns and China growth concerns are likely to remain the bigger influences on Australian fixed income and currency markets this week."
