Hey Jezza, nice to meet you too? I feel a little under attack here but posted a response to yours nonetheless.
"Research & development incentives mean that these mining companies can recoup up to 52% (yes that's correct!) of their taxes. One of the driving reasons for the tax hike on these jokers is that they are not putting funds into R&D which can lower their OPEX, benefit the community and environment AND is a tax offset. So why not raise their tax and give them more reason to invest in R&D!"
If that's the case then why do Deloitte say in their report entitled R&D Tax Changes Set To Hurt Miners "the mining industry is one of the largest claimants of the current R&D tax concessions, the report claims that tightening of the eligibility criteria will effectively exclude a number of areas in mining technology development. The report goes onto say that the new legislation would prohibit a substantial scope of the activity as well as the expenditure incurred. "?
That's on top of the fact that the government botched up their graphs by not including company tax in their graphs of 'tax from companies'. Unforgivable error, or simply convenient?
"Clive Palmer and his ilk are raping Australia and selling product overseas for short term PERSONAL gain, and investors in such projects are just as bad. "
So in your opinion Australia should become a protectionist socialist nation and not sell products overseas? The only person raping Australians is Kevin Rudd and his big new tax on the mining industry. My beef with it is the disastrous effects it will have on the economy as a whole.I am NOT here to defend Clive Palmer, just agree with his commentary, along with that of Twiggy Forrest, Peter Costello, Marius Kloppers, Tony Sage, Tony Shoeman, Colin Barnett, Anna Bligh, Mike YOung, Santos, RIO, Xtrata, Angol Swiss, etc etc.
"large mining operations these days don't employ huge ammounts of personnel AND sell large parcels of their operations to the Chinese Government. "
What absolute nonsense. I'm sure any old fool knows by now theres a shortage of personnell in the mining industry. Some of these projects are so big they do need investment from foreign companies or else they would be shelved.
"Why is Palmer's Gallilee basin project called the "China First" project? Who did Clive sell 60% of the Balmoral iron ore project to? .... Would that be CITEC a company owned by the "Peoples Republic of china" Clive is selling everything to the Chinese and at today's prices will be seen as criminal by the next generation who were the majority recipients of the $900. He is not a forefounder of industry and isn't known for developing ground-breaking new mining practices. All that he is known for is for making money, he is not a builder of nations .... he is a piliager!"
Hey Jezza, and guess who approved it? The federal government. It's also expected to create 7500 jobs. If you call that rape, then Kevin Rudd should be locked up for being a serial offender.
Anyway it seems like your against foreign investment or maybe just the Chinese. Maybe you would be better off living in China 50 years ago, or Chile during the copper nationalisation?
