"don't believe in Govenments being efficient spenders of capital. Australia would be significantly better off if mining Companies like BHP were made to reinvest the funds "to be collected" from the Super Tax on developing new Australian projects ... the Government would win in the long term by drawing from an increased royalties base and it is obvious all Australians would benefit from that."
Dex, actually the system encourages reinvestment into projects, exploration and development expenditure is deductible, therefore either the majors spend more on exploration / development and expansion (thus increasing the deduction) or pay additional tax. Simple tax planning for the majors.
