30% business tax on profits 12 % landowner tax on revenue 14% royalties on revenue
Equates to over 45% tax last year at a mine I was working at. This is a significant burden even prior to a large spend in social and environmental responsibility initiatives.
The call on a mrrt tax is stupid, why do you not think the government has not moved for some part of the industry to be nationalised? Because risk is two large. Only way to make money now in mining is to spend big, take on huge risk which not to many Aussie companies have access to capital required to start such projects. People who bring this up all the time are totally uneducated and unaware of the cost of running such business.
