API Online

May 26, 2010

Will the resources super tax affect property?

The Rudd Government and the mining industry are locked in a ferocious battle over plans to introduce a resources super profits tax, with

the industry saying the tax has put its expansion plans in Australia at risk.


But property investors should take the mining industry’s rhetoric with a hefty grain of salt, according to hotspotting.com.au founder Terry Ryder, a man who spends a fair chunk of his time assessing regional Australian property markets.

Fortescue Metals Group says it’s put two of its three expansion projects on hold as it reviews the potential impact of the tax, while BHP Billiton has also indicated some planned projects could move offshore.
However, Ryder doesn’t believe investors need to fear the impact of the proposed tax flowing through to their property returns.

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