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.
@B34NJLH2mos2MO
Leave it, but it goes to a sovereign wealth fund like Norway. Politicians can not touch it for political vote getting policies.
@B34GM7Z2mos2MO
Increase for any overseas corporations and leave as is but indexed for fully Australian owned corporations
@9TQ5HHD7mos7MO
Regardless, this should be decided by a CTA (Comprehensive Tax Audit) at the end of every year, inspecting the budget and everything and deciding where to reduce spending, where to increase spending, where to reduce or increase taxes, where to privatise, where to publicise, etc. The mineral resources tax should depend on how much service/s contributed by the mineral companies.
@4SNPK4B 8mos8MO
Yes, but only on coal, to maximally discourage mining and burning even more coal. I see no particular need to have a specific tax on iron mining.
@9D67HJZOne Nation2yrs2Y
Only for foreign owned companies.
Yes, but any government who attempted to raise taxes on the mining industry has been promptly removed. So I don't think its a fight we can win at the moment.
@92GCYYF3yrs3Y
No, nationalise the mining industry instead
@923BSSVCentre Alliance3yrs3Y
Yes, the rate should be in accordance with corporations tax.
Have not done enough research
@8TLHSVKIndependent4yrs4Y
This tax rate should be lower for less appealing/challenging project locations and higher for more appealing/easier locations.
@8SM6M934yrs4Y
@8RLTDYH4yrs4Y
Yes, close loopholes only
@8PX7B5D4yrs4Y
Mining taxes should be the same as other industries.
No, we should nationalise the mines instead
@9CT7Z6Z2yrs2Y
No, and nationalize mining
Yes, tax and nationalise all resources and land.
Set up a system like Norway which benefits from the taxes by putting into a fund that funds services for the country.
@97TH62W2yrs2Y
Crackdown on evasions, deductions and loopholes first.
@96FVK5J3yrs3Y
No, set a flat tax of 20%
@8YHWBXV3yrs3Y
yes lower the taxable amount to 1 mil not 75
@8GQLD6D5yrs5Y
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