Archive for 'Minerals Resource Rent Tax'
This is a link to my submission – The Minerals Resource Rent Tax: the death rattle of social democracy in Australia? – to the Senate Standing Committee on Economics and its investigation into the Development and Operation of the Minerals Resource Rent Tax.
The Greens’ push for reforms imagines that in a time of global economic crisis, a crisis of low profit rates arising out of the way production is organised under capitalism, capital will willingly divert some of the surplus value we workers create back to us or the poor. That is fairy land stuff.
The money is there. So why not start all over again? I have a suggestion. How about a 40% super profits tax applying to all resources? Oh…The ghost of Kevin Rudd ensures that won’t happen.
And while we are at it, why not a super profits tax on all super profits, not just those in the resource sector. The Big 4 banks come to mind.
I am quoted in today’s Australian. Among other things: ‘Former senior tax official John Passant concluded yesterday that the government’s need to suppress the quarterly revenue figure indicated that nothing was being collected.’ Find out why. Here is the link to the article ‘Advice fuels MRRT doubts’ by David Crowe.
Yours truly in the Canberra Law Review last year. Since posting the link it has been put behind a password. WTF is that about? So here is a link to the whole edition. My article starts at page 159. http://www.canberra.edu.au/faculties/busgovlaw/attachments/pdf/CLR-2011-Vol.-10-2-Symposium-edition.pdf
This is my article in Thursday’s The Conversation on the Minerals Resource Rent Tax and superannuation. http://theconversation.edu.au/weve-gained-a-mining-tax-but-lost-a-rare-opportunity-4442
Maybe it is time to squeeze the mining companies until their pips squeak.
A comment from an attendee at today’s Justice Connections conference, which I could not attend but to which I had submitted a paper. ‘Justice Kirby commended your article on the failed Mineral Resource Rent Tax/Super Profits Tax, so congratulations.’
Almost half of all big business pays no income tax and those that do mostly pay much less than the notional 30 percent headline rate. Tax business and the rich.
Nationalise the mines under workers’ control.