"The 'super' profits tax is a premium/penalty companies should pay for exhausting natural wealth that future generations wont get to see or enjoy."
That's what royalties are for.
These are charged by the States and ensure that every gram of resources that are extracted attracts a fee .. unlike the proposed MRRT. If you fail to hit the profit threshold under the MRRT, or fail as a business due to poor management guess what??
the resources are free!
No tax paid and royalties refunded.
There seems to be this myth perpetuated that these "big evil companies" are stealing "our resources". Complete rubbish... every gram attracts a tax .. currently.
