Blog

Tax to kill gas plans, two firms tell Rudd

Monday, 21 June 2010 09:04

The Australian reports that two of the four proposed liquefied natural gas projects in Queensland will not proceed under the resource super-profits tax, firms say. See the full article here.

Coal gas price for RSPT in dispute

Thursday, 17 June 2010 16:30

Another Australian Financial Review article by John Kehoe showing design flaws and complexity in the super tax. The article suggests the asset value of an Australian gas producer would be slashed by 70 per cent once the super tax is factored in.

The duffer's guide to the Resource Super Profits Tax

Thursday, 17 June 2010 15:24

Here is a good, simple "duffer's guide" to the proposed super tax. It shows that companies are paying around 41% tax now (not 13-17% as the Government tried to con the public) and will pay up to 58%.  Notably, the tax is a windfall for Treasury and the Government with less than one third of the revenue raised being used for the things the Government is claiming the tax is for.  It's a tax grab.  This is a simple explanation for people who are interested in the mechanics.

Ferguson concedes tax flaws

Tuesday, 15 June 2010 14:58

RESOURCES Minister Martin Ferguson conceded today that one of the difficulties with the proposed resources profits tax may lie in its uniform approach to different industries, The Australian reports.

Mr Ferguson told the caucus meeting that “one size didn't necessarily fit all”, pointing to the differences between the oil and gas, sand and quarry and iron ore industries.

Super tax a chance to take investment from Australia

Tuesday, 15 June 2010 09:57

CHILE, the world's biggest copper producer, has joined Canada in describing the Rudd government's planned resource super-profits tax as a chance to strip global market share from Australia.

Steelmaker says it was excluded from tax talks

Tuesday, 15 June 2010 09:38

In a sign that the Government just doesn't get the wider impact of its super tax, one of Australia's major steel manufacturers was blocked from the so-called consultation.

Labor urged to dump 'item of ridicule' Rudd

Sunday, 13 June 2010 00:00

Former Queensland Labor treasurer Keith De Lacy says the party should dump Prime Minister Kevin Rudd as leader. Mr Rudd was working in the Queensland Government when Keith de Lacy was treasurer.

Economists take issue with RSPT

Tuesday, 08 June 2010 16:25

Brian Toohey at the Australian Financial Review provides a good overview of what credible economists say about the super tax.

Voters warn Kevin Rudd to think again

Tuesday, 08 June 2010 00:00

THE voters who will count most at the next federal election have an ominous message for Kevin Rudd: keep going with the resource super-profits tax and the government will pay the price at the polls. See the full article in The Australian.