Australia's Proposed Tax changes on Resource Companies

[Granitepost]

I wonder what effect this change would have on the demand for Canadian resource companies.  Although takeovers by foreign companies have left a void in Canada, there are still the large oil sands companies like Suncor, which are basically mining operations.  As well as Teck, Canada has smaller metal mining companies, such as HudBay, with growing output and the potential to grow from mergers.  It would seem to me that Australia's location near China as well as abundant natural resources give it an advantage over Canada, which has the resources but not the location, and it would be foolish for Australia to sacrifice their present advantage.

 

I presume that Ericopoly may be interested in Australia's proposed tax changes as he seems to be well versed in their tax system.

 

http://ca.news.finance.yahoo.com/s/02052010/2/biz-finance-australia-proposes-40-cent-tax-mining-profits.html