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State loses $71m tax dispute

The state government has suffered its third major court defeat over controversial stamp duty laws that hit mining and infrastructure companies with large tax bills.

The State Administrative Tribunal has ruled that WestNet Rail, now known as Brookfield Rail, was incorrectly levied with a $71.3 million stamp duty bill over the 2006 purchase of Australian Railroad Group.

This followed earlier court rulings in favour of energy companies AGL, TEC Desert and Origin Energy, which also challenged their stamp duty assessments.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
167thMineral Resources57%20%
218thSouth3237%0%
242ndAtlas Iron31%-58%
345thWoodside Petroleum13%3%
473rdFortescue Metals Group-9%7%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

10/11/17
$0 Bought
03/10/17
$9k Issued
29/09/17
$0 Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Fortescue Metals Group$10,999.7m
2nd↑South32$9,392.9m
3rd-Woodside Petroleum$5,715.9m
4th-Mineral Resources$1,470.4m
5th↑Atlas Iron$896.6m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

3rdNev Power$5.324m
640thMark Barnaba$223k
756thSharon Warburton$170k
Ranked by total remuneration from all listed WA companies

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