Industry concerns on CGT reforms to hit mineral exploration - Mining Magazine Australia

Industry outrage on capital gains tax move - Industry Queensland

Leaving mineral exploration out of capital gains tax carve-outs is a kick in the guts for the industry and those who invest in it, says the Association of Mining and Exploration Companies (AMEC). Excluding an industry that finds the mines of the future from carve-outs will hurt future discoveries and reduce productivity for Australia’s most important economic driver, AMEC says. “To include start-ups in the carve-outs but ignore exploration is qu…

Industry concerns on CGT reforms to hit mineral exploration - Mining Magazine Australia

RC drill rig for exploration. Image: Adwo/shutterstock.comIndustry bodies across the mining sector have delivered a statement to the Senate Economics Legislation Committee, noting proposed reforms to the capital gains tax (CGT) impact mineral exploration, drilling and beyond. The Association of Mining and Exploration Companies (AMEC) told the Committee that the CGT reforms hit mineral exploration “where it hurts most”, with chief executive offic…