Fed: Swan plays down speculation of rent resource tax

AAP General News (Australia)
04-25-2010
Fed: Swan plays down speculation of rent resource tax

Federal Treasurer WAYNE SWAN has played down speculation the government is preparing
to slug Australian mining companies 5 billion dollars a year with a resources rent tax.

The plan to impose a new national resource rent tax .. to be collected by the commonwealth
.. has been widely tipped to be part of the Rudd government's response to the Henry tax
review.

The review and the government's response to it will be published next Sunday.

Mining company executives have told The Weekend Australian a federal resources rent
tax on top of the 7 billion dollars already paid in state royalties was the worst-case
scenario that could stop projects going ahead or limit expansion.

The review .. carried out by Treasury secretary KEN HENRY .. is believed to recommend
the rate be set at 40 per cent of mining industry profits and replace state royalties.

Mr SWAN has told Sky News in Washington that he wouldn't speculate on what was in the
Henry review .. or the government's response .. and many of the articles about it are
simply inaccurate.

AAP RTV rl/klw

KEYWORD: HENRY (CANBERRA)

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