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 Lying OZschwitz government claimed the industry was not paying its way: Mining tax rate hits 41.5%

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Lying OZschwitz government claimed the industry was not paying its way: Mining tax rate hits 41.5% Vide
PostSubject: Lying OZschwitz government claimed the industry was not paying its way: Mining tax rate hits 41.5%   Lying OZschwitz government claimed the industry was not paying its way: Mining tax rate hits 41.5% Icon_minitimeMon Sep 05, 2011 3:25 am
A new report suggests the federal Treasury used an ‘‘unconventional’’ method in claiming the mining industry paid just 27 per cent tax during last year’s heated debate over the now defunct resources super profits tax (RSPT).

Deloitte Access Economics, in a report commissioned by the Minerals Council of Australia (MCA), found that the minerals industry paid an average tax rate of 41.5 per cent between 2007-08 and 2009-10.

In 2010-11, the industry is expected to pay a record $23.4 billion in taxes and royalties to federal and state governments.

Releasing the findings this morning, council chief executive Mitch Hooke accused the government of using the notion that the Australian public was not getting a fair share of the mining boom as the foundation of an ‘‘undisguised revenue grab’’.

http://www.smh.com.au/business/mining-tax-rate-hits-415-study-20110905-1jt63.html
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Lying OZschwitz government claimed the industry was not paying its way: Mining tax rate hits 41.5%

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