Mining tax on building Products effect home renovating!
June 30, 2010 by Tim
Filed under new building products, Renovating
While the resolution of a new mining super tax on resources is still some way off . One must expect if this applies to building products it will be very inflationary for the cost of building . Currently, the tax is expected on Cement, iron ore thus steel, Gravel, Silica for windows , Clay for bricks and Silica for Silica bricks, gravel in Bitumen. This will raise the cost of new homes significantly. Of course, I will have to await the final tax resolution and implementation.
The new mining super tax effectively removes the scope for States to raise minerals Royalty income streams and moves this revenue to the Federal government.
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