IMF Backs Australian Resources Super Tax
Prime Minister Kevin Rudd may have quit making place for Julia Gillard to take over the Labour party leadership, but his proposed Resources Super Profits Tax has received an ally in the International Monetary Fund. The deputy head of the IMF's tax policy division, Philip Daniel said that the IMF staff welcomes the RSPT tax proposal in principle.
In his personal opinion Mr. Philip Daniel felt that the mining industry's protests were not considering other factors such as the government's promise to reimburse miners for 40% of the losses on failed projects through a tax credit.
Mr. Daniel also said that the tax design is such that it would make future changes less likely. However the present royalties regime will need to be changed at a future date as it is not responsive and more vulnerable to unexpected changes.
Mr Daniel was commenting on a paper on the tax by a visiting fellow at the Australian National University, Ben Smith. As per the paper the government proposes to be a ''silent partner'' that will claim 40 per cent of profits but refund 40 per cent of project losses.
Written by
Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.
Please use one of the following formats to cite this article in your essay, paper or report:
APA
Scanlon, Joel. (2019, March 19). IMF Backs Australian Resources Super Tax. AZoMining. Retrieved on February 04, 2026 from https://www.azomining.com/News.aspx?newsID=59.
MLA
Scanlon, Joel. "IMF Backs Australian Resources Super Tax". AZoMining. 04 February 2026. <https://www.azomining.com/News.aspx?newsID=59>.
Chicago
Scanlon, Joel. "IMF Backs Australian Resources Super Tax". AZoMining. https://www.azomining.com/News.aspx?newsID=59. (accessed February 04, 2026).
Harvard
Scanlon, Joel. 2019. IMF Backs Australian Resources Super Tax. AZoMining, viewed 04 February 2026, https://www.azomining.com/News.aspx?newsID=59.
We're committed to providing free access to quality science. By registering and providing insight into
your preferences you're joining a community of over 1m science interested individuals and help us to
provide you with insightful content whilst keeping our service free.
or
Terms
While we only use edited and approved content for Azthena
answers, it may on occasions provide incorrect responses.
Please confirm any data provided with the related suppliers or
authors. We do not provide medical advice, if you search for
medical information you must always consult a medical
professional before acting on any information provided.
Your questions, but not your email details will be shared with
OpenAI and retained for 30 days in accordance with their
privacy principles.
Please do not ask questions that use sensitive or confidential
information.
Read the full Terms & Conditions.