The Minerals Resource Rent Tax came into effect on July 1, 2012. It is a 22.5 per cent tax on the profits of iron ore and coal projects but only applies to profits over $75 million. There have been calls on different sides to both abolish and expand the tax.
@92GCYYF2yrs2Y
No, nationalise the mining industry instead
@9D67HJZOne Nation9mos9MO
Only for foreign owned companies.
@9CT7Z6Z9mos9MO
No, and nationalize mining
Yes, tax and nationalise all resources and land.
@9BSZMY5Democratic Labour12mos12MO
Set up a system like Norway which benefits from the taxes by putting into a fund that funds services for the country.
@97TH62W1yr1Y
Crackdown on evasions, deductions and loopholes first.
@96FVK5J2yrs2Y
No, set a flat tax of 20%
Have not done enough research
@923BSSVCentre Alliance2yrs2Y
Yes, the rate should be in accordance with corporations tax.
@8YHWBXV2yrs2Y
yes lower the taxable amount to 1 mil not 75
@8TLHSVKIndependent3yrs3Y
This tax rate should be lower for less appealing/challenging project locations and higher for more appealing/easier locations.
@8SM6M933yrs3Y
@8RLTDYH3yrs3Y
Yes, close loopholes only
@8PX7B5D3yrs3Y
Mining taxes should be the same as other industries.
@8GQLD6D4yrs4Y
No, we should nationalise the mines instead
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