"The only thing aired by the press and waited upon was the Herny Tax review and the fact that some sort of tax changes might be looked at.
People were not expecting the mining tax.
The only people who knew in advance were the pollies, and their inside mates...............hence the reason mining stocks were on the slide two weeks before the announcement, and then tumbled out of bed once announced to the public, which caught everyone off guard and caused an uproar." ********************** i have stated this many times, and it appears it needs to be stated again.
several months before the henry review was released, there were several articles in the mainstream media which highlighted several taxes being proposed. one was a tax on mining profits to be introduced in a similiar way to the 40% resources rent tax, the one on O&G profits.
now i have never invested in a mining stock, i have only ever been interested in the offshore O&G industry, and thats how this proposal came to my attention, while gaining an understanding of how the offshore O&G industry was taxed.
those that claim they had no warning, no idea such a thing was ever being considered only have themselves to blame for the usual ignorance many are guilty of. theres more to investing than simply buying & selling shares and making easy dollars.
im not for a second defending the tax, or the proposal, but to deny it was never on the agenda, and never known prior to its release is just plain wrong.
