Mining tax figures markedly down on those forecast
FEDERAL Treasurer Wayne Swan has just released the latest revenue figures from the mining tax, revealing the tax raised just $126 million in revenue for government coffers in its first six months.
In figures supplied by the Taxation Commissioner, the revenue raised was shown to be markedly down on the forecasted $2 billion of revenue that was expected.
While the ATO originally said it would not release the figures publicly, it supplied the figure as a total aggregate over the first two quarters, in order to avoid revealing how much individual companies paid.
And while a spokesman for Mr Swan could not release any more details due to the Privacy Act, the ATO-supplied update detailed the second instalment of revenue was "substantially larger than the first".
The release of the figure provides the first public update of revenue under the mining tax since it was brought into affect more than eight months ago.