"All of the companies doing the digging have historically paid royalties to the states. But these were woefully small which is why Kevin Rudd as prime minister decided to impose a 40 per cent super profits tax on all mining and petroleum companies on the realized value of the resource deposits they extracted.
As history shows, Julia Gillard renegotiated the tax with a handful of the big miners, after she ousted Mr. Rudd. The result is a 22.5% MRRT on a handful of iron ore and coal companies whose resource profits tip $50 million per annum."
Why why why? Why wasn't this changed back to the original 40% in the budget? Nothing to lose, everything to gain! Big big disappointment.
Thanks Monica for this piece. - Annie Also
I feel that these celebrity endorsements of products must be very successful with a large number of people. Years ago, women's magazines used to be quite interesting, and covered many diverse topics. Nowadays, those which I find, or am given, are at least three quarters full of celebrity gossip, which does not interest me at all. Obviously, the large numbers of people who buy these periodicals are greatly influenced by what these celebrities do and wear, and are very likely to be influenced by celebrity endorsed merchandise.
Years ago, I looked after an 86 year old actress, who had beautiful skin. When I asked her what she used, she said Sorbolene and witch hazel! I have since read that dermatologists recommend sorbolene as the best skin cream and that is all I have used since! I gave up using the witch hazel, when I considered it quite expensive for my budget. I recently found some lipsticks in a local pharmacy for $2. These actually last longer than much more expensive brands. A high percentage of the price of high profile brands is the advertising. If they need to advertise so widely, I wonder whether the products really are superior to cheaper goods.
No celebrity endorsement would persuade me to buy anything. If a star is wearing an item of clothing which I like, I will try to make myself something similar, but wouldn't ever be persuaded to buy it. The same goes for grocery items. I find the generic brands are excellent, and I take no notice of the advertisements or celebrity endorsements! - Annamargaret
You can also buy mining company shares on the ASX. Instead of putting your money in poker machines or deposit your money safely in one of the big 4 banks, you could also invest in an Australian mining company, maybe you'll get someof those dividends or maybe the mining company will go broke. That is the risk, if you don't want to take the risk then don't complain about those that do. - David mining investor
Celebrity endorsements are really nauseating. The Swisse one...goodness me..what a crock. My thirteen year old daughter watches it with incredulity knowing our Nic is botoxed up and it ain't vitamins that give her youthful looks. It's easy to portray peaceful whimsy if you can't move your face! It's so embarrassing. Mind you I'm a bit of a non-conformist so celebrity endorsements just make me feel contrary! - Rebe
Just remembered, I have fallen foul of the 'celebrity endorsement,' once ... when I was about 16/17.
I lived on TAB for about a year after watching a then unknown Elle McPherson come out of the surf and not do a panicked scramble for her beach towel.
First time, last time. And the product worked. I was divinely thin, a bit of my hair fell out from malnutrition but there's always a compromise, right? - Gee
Don't watch ads but I saw the big photo of Brad Pitt at the perfume counter in David Jones and wondered what he was doing there LOL - Rhoda
Citing either The Australia Institute or the Greens as a fact-checker is precarious given that they are committed to either the winding down or closure of mining.
An August 2011 analysis by the Reserve Bank of Australia calculates that through direct labour costs (around
10 per cent of total mining operational revenue), the mining industry’s demand for domestically sourced intermediate inputs especially services (perhaps around 25 per cent of total revenue), tax and royalty payments (close to 15 per cent of total revenue in recent years), and the share of the after-tax profits owned by Australian residents (around 5–10 per cent of total revenue) suggests that overall, Australian residents accrued a little over half of the total receipts earned from current mining operations.
This finding is consistent with the actual company data for spending across Queensland that can be found at www.queenslandeconomy.com.au. - Gary Doggett
So true Carole/m, and wasn't it nice to know that Gina was in Parliament with all the 'rent-a-crowd' on Thursday night to cheer on Rupert's boy Tony.
I wonder if Gina provided the champers for the dinner afterwards to celebrate his "brilliant" speech.
Seems the exhilaration ended badly for Peta Credlin. - JoanneH
Nice try Lynda , just a couple of problems looming for " Ruperts Boy" .
He's about to find himself in court with compliments of David Etteridge & if he's got the guts to hold himself to his own standards, he'll have to stand down . Wouldn't want to have his tainted vote in the Parliament would we.
Brough , Pyne , Bishop , Hockey and others are about to be investigated
regarding the Ashby Conspiracy . So much for corruption . - Carole/m