Feds: $9 billion tax grab will lead to more mining investment

THE federal government claims its new 40% resource rent tax will lead to a 4.5% rise in investment in the mining sector, along with jobs and production growth. Despite widespread opposition to the scheme from industry, the shift to a resource rent tax will be one of the few recommendations to be accepted by the government from the Henry Tax Review, released today.

Feds: $9 billion tax grab will lead to more mining investment Feds: $9 billion tax grab will lead to more mining investment Feds: $9 billion tax grab will lead to more mining investment Feds: $9 billion tax grab will lead to more mining investment Feds: $9 billion tax grab will lead to more mining investment

In its response to the Henry review, also released today, the Federal government says it will introduce a Resource Super Profits Tax (RSPT) from July 2012, slapping a 40% tax on mining profits in