Understanding the AMT (Anti Mining Tax)
This is not a simple issue, it was not carefully considered prior to being dropped like a bombshell.
This collection of material may assist your own understanding of this issue, which unfortunately is splitting Australians against Australians (Australians generally don't like being divided by class).
Say No To The Mining Tax - Song on Youtube (external link)
David McSweeney, 16 August 2010
Who really saved Australia from the Global recession? The mining industry deserves a slap on the back and not a smack in the face!
The Mining Tax Is Expropriation By Any Other Name (external link)
Andrew Forrest, 14 August 2010
The mining tax is no way to maximise the wealth of Australians.
Australia's Ratings Slip, Due to Anti-Mining Tax (PDF, 54 KB)
Dorothy Kosich, 12 August 2010
Greedy and desperate politicians seeking mining tax hikes during a global financial crisis have apparently cost Australia, Nevada and Quebec dearly as preferred destinations for global mining investment.
And The Winner Is... (PDF, 92 KB)
Mining News Premium, 5 August 2010
The slogan “Monster Rort Rushed Through” was the winning entry in Fortescue Metals Group’s Minerals Resource Rent Tax slogan competition.
Uncertainty Is The Big Enemy: Runge Chief (external link)
Blair Price, 5 August 2010
Mining sector companies are already heading offshore to escape Australia’s damaged sovereign risk reputation.
Mining industry urged to vote Liberal to scrap resources tax (external link)
Andrew Burrell, 2 August 2010
Delegates at the Diggers & Dealers mining forum have been urged to vote for the Liberal Party, to ensure the resources tax is scrapped.
A dog’s breakfast of a tax (PDF, 61 KB)
Gavin Wendt, 19 July 2010
The threads of this tax are beginning to unravel and it’s only been a matter of weeks.
The taxpayer smells a rat (PDF, 32 KB)
Greg Lindsay, 16 July 2010
If the super profits tax is meant to become an event worth remembering, it should be as the moment in which high-taxing governments had to realise their limits.
Resource rent tax is absurd as its predecessor (external link)
Alan Moran, 14 July 2010
The resource super-profits tax is buried, the minerals resource rent tax is terminally sick.
The irony of the MRRT (PDF, 29 KB)
Stephen Bartholomeusz, 7 July 2010
If Federal Treasury is now using the most up-to-date information to estimate the revenue raised by the government’s resource tax proposals, Ken Henry might want to crank up his model again.
Legal firm reignites call for flowthrough shares (PDF, 31 KB)
Tania Winter, 6 July 2010
While the MRRT has been acknowledged as a step forward in removing investor uncertainty by a professional services firm & a legal group, the removal of added incentives for juniors has reignited the debate for the intro of a flowthrough shares scheme
All about Illegal Taxation (PDF, 41 KB)
Ron Kitching, 6 July 2010
The Resource Rent Tax is an illegitimate and discriminatory grab for shareholders funds to fill Labor's unnecessary spendathon hole.
Julia runs rings around miners while they celebrate tax backflip (PDF, 42 KB)
MiningNewsPremium.net, 5 July 2010
Coal & iron ore today, copper & gold tomorrow. That’s how Dryblower sees the new MRRT which was hailed last week as an Aust gov backflip but which will eventually achieve the objectives of the original super tax – by stealth.
Digging deeper on the MRRT (PDF, 30 KB)
Robert Gottliebsen, 5 July 2010
We are now only just getting to the bottom of how the miners expect to pay about two thirds less tax under the new minerals resource rent tax rules yet the Gov is expecting a relatively minor reduction in revenue from what was originally expected.
Juniors lose in mining tax deal (external link)
John Durie, 2 July 2010
THE muted stockmarket reaction to the big tax concession is due to two factors.
The super profits tax versus the resource rent tax (PDF, 35 KB)
Mineweb, 2 July 2010
The actual differences between the much harangued super profits tax and the resource rent tax that was agreed to by both government and miners
Miners call on PM to revisit 'deal' (PDF, 58 KB)
Dennis Shanahan and Andrew Burrell, 30 June 2010
MINERS are demanding Julia Gillard go beyond a deal on the RSPT that was reached with Kevin Rudd before he was removed as PM.
Two fundamentally new and unnecessary taxes (PDF, 14 KB)
Mac Nichols, 29 June 2010
Mac Nichols comments on "Julia Gillard sets deadline to end mining tax war" (as published in The Australian).
UBS chief says mining tax is badly flawed (external link)
Scott Murdoch, 28 June 2010
UBS global chief executive Oswald Grubel, has criticised the government's proposed mining tax as simplistic and lacking credibility.
Gillard must mop up Swan's mess (external link)
Alan Kohler, 25 June 2010
Julia Gillard's biggest and most immediate problem is her deputy, Wayne Swan, and specifically the budget he brought down six weeks ago.
Why Gillard won't shelve the RSPT (PDF, 42 KB)
Stephen Bartholomeusz, 25 June 2010
It is apparent from Gillard's initial statements yesterday, and comments she made today, that Gillard is genuine about wanting to negotiate with the industry.
The Media and Profit and Loss (PDF, 39 KB)
Ronald Kitching, 25 June 2010
High profits attract other explorers and miners into the industry, and if successful, the increased production eventually drives prices down and so profits are reduced.
Aussie Tax System Explained Using Beer (PDF, 23 KB)
Colin Archer, Chairman, APEC INTERNATIONAL INVESTMENT GROUP LIMITED, 23 June 2010
Suppose that every day, ten men go out for beer and the bill for all ten comes to $100 ...
Mining Tax Explained (external link)
Liberal Party Hobart, 23 June 2010
This just needs to be broadcast. A LABOR MP explaining the tax and falling over.
RSPT Fact Sheet (PDF, 61 KB)
Unknown, 23 June 2010
You probably have been following the "debate" on the RSPT. If you aren't worried by now, you should be!! Have a look at the attachment to get some understanding of how the RSPT will "work" in its current format.
Ken Henry’s Plans for You! (A “super tax” for everyone) (PDF, 90 KB)
Various, 23 June 2010
A careful study of Ken Henry, the Man, (and his words) and Mac Nichols’ analysis is timely.
The Forever Curse (external link)
Tom Percy, 22 June 2010
Whether you approve of the proposed Super Profits Tax or not, there's one thing for certain – once it gets in, it's here forever.
New study proves RSPT flawed: CME (PDF, 19 KB)
John Phaceas, 21 June 2010
Fresh industry research has further undermined the federal government's justification for its proposed resource super profits tax, identifying major flaws in the economic modelling used to support the tax.
WA small businesses reject mining tax (external link)
Chamber of Commerce and Industry Western Australia, 21 June 2010
Western Australian small businesses have taken a stand against the Federal Government’s proposed resource super tax.
Mining might take 50 years to recover from RSPT (PDF, 134 KB)
Nick Evans, 18 June 2010
IT could take more than 50 years for Australia to recover its place as the mining destination of choice if the federal government successfully introduces its proposed resources super-profits tax, according to Access Economics’ Chris Richardson.
Another super tax casualty (external link)
Robin Bromby, 17 June 2010
This morning investors were able to compare and contrast the mining tax situation in Australia and in Senegal. And which one is the more attractive?
Figures point to holes in Treasury chief’s assumptions on tax (PDF, 184 KB)
John Phaceas, 17 June 2010
“I don‟t have an axe to grind with the prime minister, but I‟ll certainly never hold a candle for Ken Henry,” Mr Forrest said.
Beijing bureaucrats cast eyes over tax plan (PDF, 236 KB)
Tim Treadgold, 17 June 2010
CITIC Pacific Minerals, a very Chinese company, is spending $5.2b building an iron ore processing facility on Western Australia’s north-west coast – & might be perfectly happy to never make a profit from that enormous investment.
Tropicana slips down AngloGold’s priority list (PDF, 86 KB)
MiningNewsPremium.net, 17 June 2010
ANGLOGOLD Ashanti says the $A600 million Tropicana gold development in Western Australia no longer holds the same priority among its projects as a result of the Rudd government’s resources super-profits tax,
Olympic Dam's vanishing value (PDF, 43 KB)
Stephen Bartholomeusz, 17 June 2010
Under the RSPT in its present form, the net present value of BHP's Olympic Dam project could be negative $US761 million, according to a new Morgan Stanley report.
Another super tax casualty (external link)
Robin Bromby, 17 June 2010
THIS morning investors were able to compare and contrast the mining tax situation in Australia and in Senegal. And which one is the more attractive?
The tax is black and white for Gray (PDF, 27 KB)
Robert Gottliebsen, 16 June 2010
It’s great to see a government politician standing up for his constituency and his beliefs.
Letter to the Editor (PDF, 10 KB)
Mac Nichols, 16 June 2010
The Resource Super Profit Tax issue boils down simply to being about private property and it's excessive taxation.
Rudd's great big mining myth (PDF, 29 KB)
John Ralph, 15 June 2010
It is not only the foreign and local direct investors who will feel these impacts, so will employees who are members of superannuation funds.
Ruddite: A new mineral discovery in Canberra (PDF, 74 KB)
Allan Trench, 14 June 2010
YOU thought the periodic table was completed long ago. However, Allan Trench explains that recent events in Canberra have unearthed a new element and its associated mineral species – Ruddite.
Mining giant Xstrata may quit Mt Isa over Rudd super profit tax (PDF, 53 KB)
Tony Grant-Taylor, 14 June 2010
HAVING put a major part of its development plans in north-west Queensland on hold in the face of the proposed resource super profits tax, there is now speculation international mining giant Xstrata might abandon Mount Isa altogether.
KPMG and the stupidity of Rudd's resource rent tax (external link)
Gerard Jackson, 14 June 2010
Another great article by Gerry Jackson of BrookesNews.com.
Rally told Rudd should 'axe the tax' (external link)
DANIEL EMERSON and AAP, The West Australian, 9 June 2010
Up to 2000 people have attended a rally to protest against the Federal Government's proposed super tax.
Intierra Spotlight: The Senate and the mining tax (PDF, 40 KB)
MiningNewsPremium.net, 8 June 2010
THIS week Spotlight moves a little off-script to look at the implications of the next election and specifically the introduction of the mining tax on the industry.
Keep Mining Strong (PDF, 24 KB)
Minerals Council of Australia, 6 June 2010
Here's a message to Canberra ...
A Global Perspective on Doing Business in Australia (external link)
Mark Cutifani, 2 June 2010
How the mining industry in Australia will now compare to other countries where there is no super profits tax.
Stock Analysis Issue 11 Volume 7 (PDF, 172 KB)
Peter Strachan, 2 June 2010
This edition is full of interesting articles.
Resource Industry Tax (PDF, 39 KB)
Richard Johnsson, 1 June 2010
A comment from a MD of a wealth management company in Beijing.
Big Government Tax to Bury Mining Industry (PDF, 53 KB)
Liberal Democratic Party, 7 May 2010
Press Release