Penny Wong (SA, Australian Labor Party, Minister for Climate Change and Water) Share this | Hansard source

As the senator would be aware, the Henry tax review undertook extensive consultation with the business sector during the consideration of the various matters that the Henry tax review went to. I think it is worth recalling that there were a number of companies who expressed a view publicly about the merits of a profits based regime as opposed to a royalties based regime. That issue, I think, has been on the public record. The reality is that this is a tax which only cuts in when a company is making a super profit—