Brendon Grylls’ tax plan has echoes of federal Labor’s disastrous mining tax.

Grylls’ tax a turkey that won’t fly

ANALYSIS: Politics and business never mix well, which is something the state government is about to discover with news that former Nationals WA leader Brendon Grylls is eyeing a return to his party’s top job.


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Other facets of the Grylls plan include lifting the payroll tax-free threshold from $850,000 to $1.5 million, ensuring any money from privatisations is reinvested in infrastructure, and a renewed campaign aimed at fixing problems with WA’s GST distribution. Reducing tax on [most] companies from employing people will be popular

BHP and Rio have thousands of Australian shareholders. FMG, Mineral Resources, Hancock prospecting have fewer Australian Shareholders, with large shareholdings held by the billionaires and millionaires, Forrest, Rinehart and Ellison. Grylls tax is to tax the poor and reward the wealthy. The Nationals should change their name to the National Socialist Party

What a conundrum. A new mining tax? Tax the multinationals? One feels sorry for BHP and RIO except when one remembers that BHP, RIO and Xstrata negotiated the MRRT without FMG, Hancock, or any of the other iron ore miners like Atlas, Mt Gibson, and BC Iron. BHP and RIO have always been bullies, and it is very hard to actually feel empathy towards them. They were willing to sell out their rivals instead of fighting the good fight which they left to AMEC and the juniors.

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BN30 Index

Index = 100 as of 4 Jan 2016
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Total Shareholder Return as at 28/02/19

1 year TSR5 year TSR
108thFortescue Metals Group33%8%
112thWoodside Petroleum31%5%
308thOM Holdings-8%23%
381stMineral Resources-19%9%
730 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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Share Transactions

$0 Issued
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2nd↓Fortescue Metals Group$9,358.7m
3rd-Woodside Petroleum$7,536.1m
4th-Mineral Resources$1,706.7m
5th↑OM Holdings$1,512.8m
487 listed resources companies ranked by revenue.
Source: Morningstar

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