Make it Strong!
Don't underestimate the loads your rudder could be under. Plywood, unless of very high quality, is generally a poor choice for rudders. It could be used as a core material for a fiberglass rudder, but you would want a majority of the strength to come from the glass. Plywood only has a portion of the layers oriented in the proper direction. For a rudder, you really want all structural wood to have its grain running vertically. The following link is for an article about rudder strength for a particular 24' sailboat. 1/2" ply, even sheathed in glass, would not be able to handle the loads for this boat which is only 2' longer. The article tells you the thickness needed at the pintel areas to handle various surface areas. You really want to be confident that your rudder will not part ways when the going gets rough.Chris