huge - i don't want to disparage you from digging up anything relevant to your support of the RSPT as it stands but you do need to have some understanding of the mining industry and you do need to do some research and you could also focus on ways in which this tax can be minimised or avoided
i think there is consensus that the federal govt take off could be higher than it currently is so some form of federal RENT tax is probably supported but a SUPER tax on PROFIT at 40% across the board along with the more than generous rebates they are offering to start up mines is way off the mark
intelligent discussion between the mining industry and the federal and state governments is required which should have taken place BEFORE the tax was announced - at this point in time we only have ken henry and some canberra boffins deciding on how to raise revenue via tax. and although i'm not a fan of the late kerry packer it's worthwhile recalling what i believe were the truest words he ever uttered - "Of course I am minimising my tax. And if anybody in this country doesn't minimise their tax, they want their heads read, because as a government, I can tell you you're not spending it that well that we should be donating extra!"
OZL Price at posting:
$10.75 Sentiment: LT Buy Disclosure: Not Held
