bill shorten budget reply, page-43

While 10% tax on everything mined is a good idea, the withdrawal of
GST exemption on exported mined products is a more efficient of
achieving nearly as good a result without adding to the administrative burden.

At present miners have to account for GST imputs but are not levied GST
on sales revenue. The result being that they have $billions of GST refunded to them annually.

The Stated rely on the Commonwealth's refund of GST to provide infrastructure
and services but the miners make no contribution except royalties which up to
5 years ago were a pittance.

In addition, 83% of our resources are owned by foreigners and the recent treshold lift from $300 mil to a $trillion accommodates yet more foreign ownership.

So, the bottom line is that if we can't own our own resources then at least
we should earn extra rent by taxing these foreigners to the hilt. And what if this devalues our resources? At least we can put the tax aside to buy back the farm at a reduced price.

Why might you ask?
Political answer: Just because we can.
Cheers
Moorookamick