Senate debates

Wednesday, 27 June 2012

Bills

Tax Laws Amendment (2012 Measures No. 2) Bill 2012, Pay As You Go Withholding Non-compliance Tax Bill 2012; Second Reading

11:57 am

Photo of Arthur SinodinosArthur Sinodinos (NSW, Liberal Party) Share this | Hansard source

I am sorry. No, what happened is that they put it out there, and guess what? The mining industry took a nanosecond to look at this and to see that the government was going to accrue vastly greater revenue than its model was suggesting, so they saw that this would have a much more swingeing impact on the mining sector than the Treasury had assumed, because the Treasury did not understand the mining sector in regard to the modelling of the impacts of the resource super profits tax.

Comments

No comments