Can someone clarify my confusion please. The mining companies are threatening that a mining tax that is much higher than its international competitors would have disasterous consequences.
Capital will rush to the countries with lower taxes and new development will almost cease. Funding will not become available for new mines in Australia.
The miners now have an ad that shows a graph indicating how much mining tax is paid in several other countries compared to our current 43%.
My question is: If they pay 43% here but only 26% in Chile, 30% in Russia or 32% in Peru, why hasn't Australian mining been decimated already by the allure of such international taxes.
Basically the mining companies have exposed their lies in their own ad.
