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31 May 2010

POSTED BY DJackson IN General | May 31st, 2010 | one response

Australia to Run Ad Campaign Explaining Resource Tax

Australian Prime Minister Kevin Rudd’s government said it will run an advertising campaign to counter mining industry “misinformation” about the proposed 40 percent super profits tax on resource companies.

The promotion was granted under emergency powers after Treasurer Wayne Swan advised “there is an active campaign of misinformation about the proposed changes,” Cabinet Secretary Senator Joe Ludwig said in a statement today.

The decision waives the government’s own rules that spending on taxpayer-funded advertising should be approved by its own auditors. In the May 11 budget, the government set aside A$38.5 million ($32.8 million) to promote an overhaul of the nation’s tax system, a plan that includes the resources levy.

Mining companies have been the fiercest opponents to the tax announced on May 2 and scheduled to take effect from 2012, taking full-page advertisements out in Australian newspapers to lobby for changes. BHP Billiton Ltd. and Rio Tinto Group, the world’s biggest and third-largest resources companies, are among miners warning that the levy will jeopardize investment and limit jobs growth.

Read the full story herehttp://www.businessweek.com/news/2010-05-28/australia-to-run-ad-campaign-explaining-resource-tax-update1-.html

Key concepts: government, Australia, tax, jobs, advertising, changes, misinformation, YouTube, 

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