Are miners getting a fair go from the taxman


from an article by Charles Berger, The Age, 11 May 2010.



Mining gets tax breaks on exploration and equipment worth $1 billion per year. The Federal Government is now proposing an additional $500 million per year in direct rebates to encourage exploration.

Miners pay nothing for their greenhouse pollution. In 2006, this was 65 million tonnes, at a conservative carbon cost of $20 per tonne.

The Government service Geoscience Australia costs 130 million per year. It provides free data and services to mining. CSIRO and other government services provide another $130 million per year to mining. There's also $160 million worth of research and development tax concessions to mining.

Government provides roads, rail, ports, electricity networks and other infrastructure.

Mining gets direct access to publicly owned non-renewable resources.

Against all this, the Government's proposed resource rent tax looks modest to me.