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.