Your grammar is not to flash either Rehctub. (lol)

Dear thinker2,

"Your grammar is not to flash either Rehctub.".

Your spelling is not 'too' flash either thinker2.

Lol

Some interesting points.

How I see it is that royalties should be set as a percentage of the 'sell price', hence, they increase as the prices fetched improves and decrease accordingly.

To tax so called 'super profits', where do you draw the line.

Banks are more profitable than mining companies, when one takes the 'risk v returns' in to account.

It is suggested that as many as 19 out of 20 mining projects fail. How many bank offices fail and, more importantly, how much risk are banks taking as they simply sign a lease, set up a branch and commemce making money from our money, not their's.

Some of the installers of the failed insulation scheme made super profits.

They bought a ute, a few tools and went on to make as much as $1,000,000 per year on their $20,000 investment.

Why is that not a super profit?

At the end of the day we own the minerals, so it is they who need to be sold at a higher price when times are good.

Agree with Pelican about super profits tax, particularly considering we do not own much of the mining industry and money goes O/S.

>>Agree with Pelican about super profits tax, particularly considering we do not own much of the mining industry and money goes O/S.

Even more reason to increase the royalties on our minerals.

We can't stop OS miniers from mining but we can charge a higher price for our goods.

Once again Abbott presents an idea that seems logical and appealing to the uninformed every-day Joe while being in reality a completely stupid approach.

While there are many large international companies making massive profits off Australian resources, their are also many smaller companies, many Australian, who aren't making much profit at all. Simply increasing the royalties punishes the smaller local miners more than the larger internationals.

Once again, Abbott goes with the populist approach. And it will probably work for him because too many Australians are so easily fooled with these simplistic ideas.