http://www.kudelka.com.au/
THE government’s controversial mining profits tax raised only $126 million in its first six months, Treasurer Wayne Swan finally revealed yesterday as Parliament prepared to force him to publish the figures.
Mr Swan did not rule out changes to the tax, which will now certainly not raise $2 billion over the full financial year, as the Gillard government predicted in the midyear economic forecasts in November – an estimate already down on the $3 billion forecast in the May budget.
Mr Swan said the shortfall was caused by lower commodity prices hitting the profits-based tax, but revealed that Treasury and the Australian Tax Office would review all the reasons for the lower revenue.
Read more: http://www.theage.com.au/opinion/political-news/mining-tax-a-126m-fizzer-20130208-2e402.html#ixzz2KLpgZpLk
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