Mining lobby reaps what it sowed on taxes

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By Leith van Onselen

The Minerals Council of Australia (MCA) has joined the chorus demanding company tax cuts, claiming the industry is paying more than half of its profits in taxes. From The AFR:

The Minerals Council of Australia’s annual tax survey, conducted by Deloitte Access Economics, claims the effective tax rate for the industry edged down slightly to 51 per cent in 2015-16 but remains the second highest in nine years since the survey started…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.