TAX NEWS - June 2010

Australia Tax: PM must call election ASAP, says Bishop

Australians should be able to have a say on the mining tax, says deputy opposition leader Julie Bishop who is calling for a federal election "as soon as possible".

"The prime minister should take his tax to the Australian people and let them decide as soon as possible,'' Ms Bishop said.

"He should make the mining tax a referendum issue for the Australian people.''

Prime Minister Kevin Rudd has made it clear the election will be held this year after suggestions he might be planning to delay until 2011.

He admitted yesterday there is likely to be more fallout for the Federal Government in the wake of strident opposition to its resources super profits tax.

"It sounds as if this is a very desperate government and the prime minister is running away from the Australian people," Ms Bishop said today.

"I believe the prime minister has brought this situation upon himself.

"We believe (the mining tax) will damage our economy long-term, it will cost jobs, it will drive investment offshore."

Ms Bishop said the Rudd government appeared to be "hell-bent" on destroying the mining sector, even though she says it underpins the Australian economy.