BHP chair says Australia must compete harder for global investments
BHP•BHP Chair Ross McEwan said Australia must pay close attention to tax incentives and business-friendly measures offered elsewhere to compete for investment. He cited Canada’s full, immediate deduction for eligible capital investments and mine development costs.
1. Tax policy and investment
Speaking at BHP’s annual general meeting, Chair Ross McEwan said Australia must compete for capital nationally and in every state. He pointed to Canada’s Productivity Mega Deduction, which allows businesses to immediately deduct the full cost of eligible capital investments, and said Canadian miners can deduct mine development costs in the year incurred. McEwan also cited Argentina and Chile as countries with examples Australia should watch.
