Repeal of Mining Tax Should Be Supported

“The release of exposure draft legislation to abolish the mining tax is further demonstration the Coalition is acting on its policy commitments and begins the process of ridding Australia of a tax that falls well short of the principles of good tax design,” Business Council of Australia Chief Executive Jennifer Westacott said.

“Good tax design should be prospective, not retrospective, and should contribute to the tax system being stable and predictable as well as supporting investment and enhancing competitiveness. The mining tax failed all these tests,” Ms Westacott said.

“The BCA’s Action Plan for Enduring Prosperity, released in July, called for the tax to be repealed to maintain Australia’s competitiveness and standing as an attractive investment destination.

“The cumulative effect of the carbon tax and the mining tax has compromised the long-term competitiveness of the resources sector at a time when we need to be pulling out all stops to maximise potential investment.

“The parliament should accept the strong mandate the community has given to the government, which came to office with a clear commitment to abolish the mining tax,” Ms Westacott said.

Scott Thompson, Director, Media and Public Affairs
Business Council of Australia
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