“As someone who has worked as an accountant or financial analyst for most of the last couple of decades, including in the mining sector, I have been watching the debate about the mining resources super profit tax with some bemusement. People like me understand tax and why businesses make – or don’t make – investment decisions. It is becoming disturbingly apparent that ordinary punters are not getting the information they need to make a reasonable assessment about the merits of this proposal.”
This story by David Donovan, an ex-accountant, was published on Newscorp’s The Punch website on 15 June 2010. It talks about the misinformation spread by the Government, economists and big mining about the mining resources super profit tax. Donovan also makes suggestions about the way the tax could be restructured to stop is being a disincentive to business and investment in the mining sector.