Doubt on pledge of $10.5bn in mine tax revenue

Monday, 05 July 2010 10:46

There is a pressing need for Australians to see the fine print and detail of the new super tax deal, with increasing question marks over the numbers.  The Opposition is calling for the modelling and according to The Australian, the Gillard government's new minerals resources rent tax may not raise its promised $10.5 billion in revenue.

An earlier blog post showed the view of another commentator who argued that the previous tax was more lilkely to net $20 billion, when Treasury was arguing it would net $12bn. With increased speculation that the Government will race off to the polls to take advantage of yet another media honeymoon, ComeOn Australia take the view that more transparency is needed on the numbers of this deal.

While we don't support the tax, we do support the Greens and the Coalition view that the numbers need to be reviewed. And is it any wonder that many Australians don't trust the Government's word on this?