Two waves sink Malcolm Turnbull’s rhetoric on Adani coal mine
Two waves sink Malcolm Turnbull’s rhetoric http://www.canberratimes.com.au/comment/two-waves-sink-turnbulls-rhetoric-20151217-glqja7.html Richard Denniss The Australia Institute chief economist, The Canberra Times: 18 Dec 15:
“… thanks to the Queensland Land Court decision to recommend the approval of the enormous Adani coal mine, we know that suggestions that Australia is planning to be competitive in a low-carbon world amount to nothing more than a cruel hoax. …
Ironically, one of the reasons the court recommended approval of the Carmichael mine was its
view that “it is apparent that [Adani] must pay tax on income earned or deemed to be earned in Australia”. The judge accepted the “prima facie evidence of the corporate tax payable” and rejected opponents’ claims that Adani would pay far less.
The ATO data shows Adani paid zero tax
on revenues of $268 million in 2013-14. Whoops. … “
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