mining tax will impact centrex

Mining tax will impact Centrex's EP operations.

NATASHA EWENDT
05 May, 2010 11:30 PM

CENTREX Metals is reviewing how a proposed Federal Government tax reform slugging mining companies for 40 per cent of their profits will affect its operations on Eyre Peninsula. The company, which plans to export iron ore from its Wilgerup mine near Lock next year, is waiting for more details on the tax reform to see exactly how it will be affected.

"It will impact us, but until we know how the government will handle the current mining royalty system and other recommendations from the Henry report, it's unknown precisely how," Centrex chief operating officer Kevin Malaxos said.

"The tax reform involves the Resource Rent Tax, which we see as a significant negative, with potential cuts to the company tax rate and changes to the way exploration expenditure is treated on the opposite side of the ledger, so there are too many variables to be assessed at this point to determine exactly how Centrex will be impacted."

http://www.portlincolntimes.com.au/news/local/news/general/mining-tax-will-impact-centrexs-ep-operations/1822568.aspx
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Small miners could be winners from Henry Taxation Review response.

by Paula Wallace - created May 05, 2010 03:29 PM

Big miners are the losers and small explorers could be the winners from the Federal Government's response to the Henry Taxation Review announced on May 2nd, according to taxation experts..............(continued)

http://www.theajmonline.com.au/mining_news/news/2010/may/may-06-10/small-miners-could-be-winners-from-henry-taxation-review-response