Kelly O'Dwyer Higgins, Liberal Party
3:01 pm
My question is to the Treasurer. I refer the Treasurer to the heads of agreement with the three big mining companies in July 2010, which states that 'any royalties paid and not claimed as a credit will be carried forward at the long-term bond rate plus seven per cent'. That would currently equate to over 10 per cent per year. Does the Treasurer believe it is fair that the individual taxpayer receive a delayed interest refund at 4.37 per cent per year from the tax office when big miners receive credits of over 10 per cent against any future liability, double that of a typical taxpayer? (Time expired)
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