kruddys resource tax

[sprintcyclist]

Double taxing the only sector in aussie that is making a buck.

that'll stop that behaviour !!!!!!!

watch our sharemarket tank on this news.

........This came as investment banks Morgan Stanley and Merrill Lynch issued research papers predicting that a resource rent tax of 40 per cent on profits would hit long-term earnings of Rio Tinto by up to 30 per cent and BHP Billiton by 19 per cent.
Atlas Iron chief executive David Flanagan said last night the prospect of a "double tax" would be devastating to his fledgling West Australian iron ore miner...............

.............Macarthur Coal chairman Keith De Lacy said the planned new tax would lead to a decline in investment in Australia because other mineral-rich countries had lower taxes.
"These sorts of things could only come from people who live in Canberra who have got no idea how regions work and how mining companies work," said the former Queensland Labor treasurer.
"Rudd and (Wayne) Swan have got this advice from people from Canberra and who really don't know what the real world is like."
A spokesman for Andrew Forrest's Fortescue Metals Group said the company was concerned about the prospect of paying the double tax.
Mr Barnett accused major mining companies of being too slow to act against the mooted new federal tax on their projects. He warned that some mining projects in Western Australia could be abandoned if the Rudd government agreed to the tax.........
...................Mr Swan declined to comment on the resource rent tax.............


http://www.theaustralian.com.au/busines ... 5860394195

[freediver]

He could kill two birds with one stone here by implimenting a carbon tax instead. If you do it properly you could tax only local consumption, thus not harming exports.

[IQSRLOW]

by implimenting a carbon tax instead. If you do it properly you could tax only local consumption, thus not harming exports.

What? By making it more expensive to produce goods locally thus sending them offshore to be made so we can import them from non-fucktard taxing countries?

Perhaps you can clap like a retard too while you watch our balance of trade skew out of kilter thinking you are saving the planet because the stats show those nasty, evil polluting companies revenue has dropped?

[freediver]

You can't import electricity IQ.

[IQSRLOW]

Are you not making the claim to make local energy consumption more expensive with a higher tax?

[freediver]

Yes.

[IQSRLOW]

by implimenting a carbon tax instead. If you do it properly you could tax only local consumption, thus not harming exports.

Then explain how you "do it properly"

[freediver]

Ideally, you use the revenue to lower other more arbitrary taxes, like income tax or the GST.

[IQSRLOW]

Thus widget A produced in Australia as well as exported by Aussie company A becomes more expensive locally

Cue opening for offshore company B to import widget A thus eroding company A's local market share. Company B doesn't have to comply to Australian bureaucracy thus starts expanding and finds that they can undercut Company A globally.

Simple solutions for complex problems usually result in a clusterfuck as any socialist leaning govt has more than aptly demonstrated

[freediver]

Thus widget A produced in Australia as well as exported by Aussie company A becomes more expensive locally

Not necessarily.