The 40% tax isn't about 'SUPER PROFITS' that's just the snazzy label for the plebs that can't be bothered to read beyond a headline. The tax is eligible for any resource company that makes more than 6% ROI.
A company can make that with a term deposit. How's that for your 'serious money'?
25% tax in Canada vs 40% in Australia. We're going to miss out on a lot of investment funds. Not only that but getting public/private funds for financing exploration and development is going to get a lot harder.
It's a joke. Resource stocks on the ASX have always been a bit of a joke, now they'll be shunned even more. Let's see how many of the miners with international projects delist and head for more welcoming exchanges.
The 40% tax isn't about 'SUPER PROFITS' that's just the snazzy...
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