In my experience, mining and resources business owners and executives who begin tax planning at the start of the financial year rather than leaving it to the very end, not only minimise their tax obligation but enjoy a raft of business benefits. Among them a more profitable and financially organised business.
This year’s Federal Budget was all a bit dull really. There wasn’t a lot in it that we didn’t already know about, but for those in the mining and resources sectors there were at least five gems that provide worthwhile tax concessions and incentives.
For mining and resources personnel, the lure of living in another country, career advancement and the considerable financial incentive of very high income, very low tax (and sometimes no tax at all) are compelling reasons for taking up international secondments.
It’s been touted a Cash Splash Budget with something for everyone and I’m sure you have already received your share of Budget analysis emails. While I might be at risk of adding to your already bulging inbox, there are a few gems amongst the rubble (pun intended) that provide some interesting reading for mining and…