Quote:
Originally Posted by SKYHIONPSI
Love it Dave. This super tax better not go through, otherwise Mining in Australia might as well shut up shop.
As a member of a few geological societies etc. we are on the mailing lists for them as part of it, my inbox has been piling up with emails relating to this and how there will be more bad than good to come of it.
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I agree in principal in higher taxation of resources (even though i work for mining). I would have supported a revision of royalties, or an additional federal tax of say maybe 5-10% (especially when you consider some of the record breaking profits posted), but 40% is an absolute ass raping. Especially when Barnett is already reviewing royalties.....
Additionally, if you are going to target mining, what about the friggen banking sector posting record profits in a friggen GFC!