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taxing the miners « Previous | |Next »
March 13, 2012

The mining magnates or the chief executives in the mining industry sure complain a lot as they go on about an outrageous assault on their industry by the state.The way they act and speak its almost as if they own all the gold, iron ore, coal and uranium that is in the ground and the state is a mere rentier.

SpoonerJmining.jpg

The reality was stated clearly by Ken Henry's 2010 tax report:

The community, through the Australian and state governments, owns rights to Australia's non-renewable resources and should seek an appropriate return from allowing private firms to exploit these resources.....'Current charging arrangements fail to collect a sufficient return for the community because they are unresponsive to changes in profits.

The Liberal/National Coalition has fallen in line with the Big Miners---ya gotta ease the tax burden on the miners because they are carrying the country on their back and the load sure is real heavy. Or something like that.

What's even worse than their moaning and groaning is their charade about clean coal---its just a public relations tool to stop meaningful policies to reduce greenhouse gas emissions--- even though Australia’s land and oceans have continued to warm in response to rising CO2 emissions from the burning of fossil fuels.

The huge resources projects going ahead in Queensland and Western Australia are proving to to mean real pain ahead for the many workers and small businesses caught in the cross-fire of a soaring dollar and uncompetitive local industries.

| Posted by Gary Sauer-Thompson at 12:37 PM | | Comments (5)
Comments

Comments

http://www.smh.com.au/business/rinehart-company-fails-to-file-accounts-20120313-1uyi4.html

"Gina Rinehart's billion-dollar resources company, Hancock Prospecting, has failed to file its annual accounts for the past two years, a failure which the corporate regulator was at a loss to explain last night.

Under the disclosure requirements of the Corporations Act, a company is required to lodge annual accounts within four months of the end of the financial year.

Not only are Hancock Prospecting's financial reports for 2010 and last year missing but the reports for each year from 2006 to 2009 were each filed more than a year late.

A spokesman for Mrs Rinehart said the company had no comment."


Either the miners pay their taxes (and comply with the Companies Act - thanks, fred) or they get nationalised. Let me show you around the No. 1 People's National Iron Mine!

we should tax the big miner's super profits even more than the Gillard is proposing. Gillard + Co rolled over.

Did you like that Gordon [if 'like' is the right word]?
But wait, there's more!

" THE mining company owned by billionaire Andrew "Twiggy" Forrest has not paid any corporate tax for seven years.
And the high-profile critic of the Federal Government's proposed mining tax has admitted it may not be liable to pay that either."

http://www.heraldsun.com.au/news/more-news/twiggys-tax-bill-a-blank-cheque/story-fn7x8me2-1226190659022

Businesses come and go.
There will be a lot of money to be made in Toowoomba over the next 10 years. Some real estate will double.