Miners in a royal spin over taxes

The latest PR offensive from the Minerals Council of Australia is a report it commissioned from Deloitte Access Economics which puts the miners’ “contribution” to Australia at $22. 7 billion last year. “Deloitte Access Economics estimates the total tax burden on the minerals sector at $22. 7 billion,” says the introduction.

Rather than demonstrate that the MRRT (which in its current form was specifically designed by big mining companies to collect next-to-nothing) is a failure, perhaps these same figures also indicate that the mining boom will not have been as good for “Australians” and it ought and that Australians might have been better off for the government to have kept the MRRT in its original form.

Delving further into the Deloitte data, what jumps out are these lines: “On average taxable income tends to account for about 66 per cent of the ABS (Australian Bureau of Statistics) measure of profit.

In its press release, the Minerals Council deploys its usual ad hominem rhetorical tactics tailored to shoot down any criticism. “These numbers comprehensively puncture the wall of sound from the Greens and some commentators determined to talk down mining’s contribution to Australian living standards,” says the press release.

Read more here: SMH


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