"While NSW left its rate unchanged, analysts said they would be keeping an eye out for the Commonwealth Budget in October to see if there were any plans to lift rates for iron ore or other miners, considering the boom most commodities saw recently in the wake of the Russia-Ukraine conflict."
Do these analysts actually have a clue that the Federal government cant just tax mineral resources ( other than offshore petroleum resources that sit in Commonwealth water ) willy nilly. The ownership of these resources is vested in the states and hence they can carry on and raise royalties at a whim which will bite them in the ass longer term if they are not careful but the Federal government cant do the same as it doesn't have a head of power under the constitution to tax this way. I wouldn't be taking financial advice from analysts who don't even know the most basic stuff about how our federal tax system works.
SMR Price at posting:
$1.90 Sentiment: Buy Disclosure: Held
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