sell australia buy canada...

http://www.theaustralian.com.au/business/mining-energy/canada-ready-to-cash-in-on-australian-resource-sector/story-e6frg9df-1225862924666?from=public_rss


It is what all the overseas players are going to be doing!



Canada ready to cash in on Australian resource sector

CANADA is keen to accommodate any mining projects that move out of Australia because of the Rudd government's planned new tax on the sector.

Rio Tinto has shelved plans for an $11 billion expansion of its iron ore operations in Western Australia because of the proposed 40 per cent tax on super profits, a policy vehemently opposed by the coalition.

Conservative Canadian MP Brad Trost said he is keen to cash-in on the Australian government's "blunder".

"We see an opportunity to have some money come north," he told ABC Radio today.

Canada was a low-taxed, mining-friendly nation, he said, noting that the sector is taxed at the same rate as other companies and corporations.

"By 2014 we are aiming to have a combined average of 25 per cent tax rate," he said, adding that the rate would vary slightly between provinces.

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Related Coverage

* SUPER TAX: Rio shelves billions in projects

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"I am sending out the message (that) Canada wants Australian business."