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What are your thoughts on the RSPT?
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I'm not weeping in my beer for a bunch of billionaires who got that way raping our planet and sending the money overseas.Originally posted by Flawless* View Post -
Originally posted by Flawless* View Post
Concern is far overblown. The tax itself is a very good idea, just not in it's current form. 99% of the nation doesn't even realise the oil and gas industry in this country has had a rent tax of around 40% since time immemorial------> yet somehow we still manage to ship tonnes of LNG at a handsome profit to the Chinese every year.
Compared to other tax regimes on mining sectors across the world the royalties system here is still perhaps the most favourable. The tax will support a lowering of corporate (company) tax to 28% which benefits all industries. The key thing to remember when thinking about this argument is "who" owns the resources and the fact that they are finite. Noty to mention the deductions avaliable under the scheme.
So again, it's a whole lot of hoopla from a bunch of people with vested interest (mining CEO's, execs etc) and mindless followers who are too dumb to even understand how the proposed tax would work in practice. The idea is a sound one....it just needs refinement!!!Comment
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They should hit the banks. They are the one's ripping us off for massive profits every year.Comment
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