Isn't that what I said?
Dr Henry calls for future government to look into a super profit for all industries..
- Thread starter oracle
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Isn't that what I said?
Rudd was quoting a figure of abt 17% of profits being paid by miners as company tax.
Not even I think he is such a crook to invent the figure so I must think how he came to that conclusion.
After thought I accept that it is possible. But it is also possible that most other trading companies pay even less on average. We were never given that figure so we cannot compare apples with apples.
The reason miners may, as a group, be paying low company tax is not sinister.
Firstly: They have already paid state royalties and I have no idea how much that might be because the states do one-on-one deals.
Secondly: We are in a mining boom and hundreds of new projects have been starting up and the players have been competing for labour in a limited skilled pool. Ergo their start-up costs are high and like every other tax payer in the country they can carry over their losses to offset future profits. Fortescue Metals is a classic example of a company that has committed very large sums over the years and has finally got the point where there is positive cash flow. They have every right to recover cash losses immediately and to depreciate capital expenditure as we all do.
I genuinely believe miners have less wriggle room for taxes than trading companies.
Not even I think he is such a crook to invent the figure so I must think how he came to that conclusion.
After thought I accept that it is possible. But it is also possible that most other trading companies pay even less on average. We were never given that figure so we cannot compare apples with apples.
The reason miners may, as a group, be paying low company tax is not sinister.
Firstly: They have already paid state royalties and I have no idea how much that might be because the states do one-on-one deals.
Secondly: We are in a mining boom and hundreds of new projects have been starting up and the players have been competing for labour in a limited skilled pool. Ergo their start-up costs are high and like every other tax payer in the country they can carry over their losses to offset future profits. Fortescue Metals is a classic example of a company that has committed very large sums over the years and has finally got the point where there is positive cash flow. They have every right to recover cash losses immediately and to depreciate capital expenditure as we all do.
I genuinely believe miners have less wriggle room for taxes than trading companies.
yeah - but i thought i would point out the actual figures to make it a bit clearer for those not in the know.
The minerals council / kpmg modeling used a rate of return of 15 % for mining companies last 30 years to debunk the rspt .
So your saying 0-5 % rate of return for miners .
How about between you and the minerals council you choose a rate that best suits that days argument
Hang on your already doing that .
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