Category Archives: Mining Tax

How’s that mining tax going?

Not well. The Treasurer this morning revealed net revenue from the Mineral Resource Rent Tax was only $600,000 in the June quarter, compared with the already-downgraded $150 million forecast last year. Is that net of the promise to refund state … Continue reading

Posted in Mining Tax, Taxation | 28 Comments

How’s that mining profitability going?

The government is introducing legislation to repeal the mining tax. Good. “The repeal of the MRRT package contributes more than $13 billion of savings to the budget’s bottom line on an underlying cash basis over the forward estimates,” Mr Hockey … Continue reading

Posted in Mining Tax | 12 Comments

Fact checking a Greens mining-tax claim

I’ve just watched NSW Greens MP Cate Faehrmann making the claim that Australian miners pay the lowest corporate income tax amongst Australian industry. But that simply false. Last year I calculated the average tax rates for Australian industries using ATO … Continue reading

Posted in Mining Tax | 32 Comments

Treasury and Tax Expenditure Statements

David Uren has an article in The Australian were he points out some of Treasury’s failings in the past few years. LABOR backbenchers could be forgiven for thinking that Treasury has a hex on them. Before the 2010 election, it … Continue reading

Posted in 2013 election, Budget, Mining Tax, Superannuation, Taxation | 15 Comments

Keep mining strong

New ad campaign starts tomorrow.

Posted in Mining Tax | 122 Comments

Ferguson and mining

Yesterday the AFR ran an astonishing op-ed by Richard Denniss. Basically putting the boot into Martin Ferguson. Read the whole thing if you can stomach it – I’ll just extract a section: Martin Ferguson’s legacy is a budget short of … Continue reading

Posted in Economics and economy, Mining Tax, Taxation | 145 Comments

Nostalgia for the RSPT

I have an op-ed in The Australian this morning: The MRRT experience has been so bad that there is now some nostalgia for the ill-fated resource super profit tax. Unlike the MRRT, we’re told, this tax had teeth and would … Continue reading

Posted in Mining Tax | 20 Comments

How much tax do miners pay?

Yesterday on Twitter Rob Oakeshott asked the question: Australian miners do not pay 13% – 18% as an effective tax rate. In an analysis published last year by the MCA I calculated the effective tax rate miners pay. If you … Continue reading

Posted in Mining Tax | 157 Comments

When crazy theory meets the wind shield of reality

The mining tax was a dumb idea – it always was. It was predicated on at least two heroic assumptions – that rent exists and that rent could be sufficiently well defined to form a tax base. To deliver the … Continue reading

Posted in Mining Tax | 87 Comments

No RSPT for the MRRT

I’ve spent a delightful morning reading all about the fall-out from the mining tax. Both The Australian and the Financial Review have several stories – all critical of the tax and Wayne Swan. A new meme seems to be developing … Continue reading

Posted in Mining Tax | 118 Comments