Unions back super profit tax

Newcastle Trades Hall Council secretary Gary Kennedy said it would return some of the coal industry's "massive profits" to the public, who owned the resources.

Mr Kennedy said coal companies had enjoyed "an exceptional deal for a long time".

"They'll complain that the NCIG loader opening tomorrow morning cost $1 billion to build but they will get $6.5 billion worth of coal a year flowing through the loader and the companies behind it are making massive profits so it's not a big ask," he said.

"The profits are so big that they are lining up to open new mines - the amounts of money are massive - so if the Government thinks the new tax is fair enough it's all right by me."

***

Miners union National President Tony Maher welcomed the resource super profits tax.

“It is exactly what is needed to give all Australians a share of the wealth.

“The Federal Government should consult with business, unions and community groups about targeting assistance for mining communities most affected by mining operations.

“Mine workers and their families won’t buy any job scare campaign run by well heeled executives who will be fighting the resource super profit tax.”?

***

South Coast Labour Council secretary Arthur Rorris rejected the mining industry job's warnings as "scare tactics". Tax reform of the resource sector was overdue.

"You have to draw the line with that (job losses) argument, and say everyone is responsible for paying a fair proportion in tax," he said.

***

Tax on resource super profits means all Australians benefit from resources boom

“Using a new tax on the Super Profits of resource companies to fund a package of superannuation concessions, infrastructure investment, and to simplify business taxes makes good sense,” ACTU Secretary Jeff Lawrence said. “All Australians should benefit from the resources boom – not just highly-profitable mining companies.

“It is important that the money made by selling Australia’s natural resources and the benefits of economic growth are shared equitably and we avoid the dangers of a two-speed economy.

Deliver better services to workers and famlies living in remote Australia

“The profits of mining companies should be put back into physical and social infrastructure that will make the industry more efficient, more productive and more sustainable for the long-term.

" We also need to deliver better services to employees and their families, especially those living and working in remote areas, and invest in skills development and training to help attract and retain skilled workers to the industry.”

Labor building on two-decade old union deal to establish universal superannuation

Unions strongly welcomed the move by the Rudd Government to lift universal superannuation contributions from the current 9% to 12% by 1 July, 2019.

“Unions have been pressing for an increase in superannuation and we are delighted to see the Rudd Government announce a clear path to achieve this goal,” Mr Lawrence said.

“The lift in the Superannuation Guarantee and the improvements to tax concessions for low-income workers are major planks that build on the deal made with working Australians and unions almost two decades ago to establish universal superannuation.

Now unions must bargain to lift super up to our long-term goal of 15%

“Recent moves by the government to prevent financial planners and advisers pocketing hidden fees and commissions from workers superannuation accounts are also very welcome.

“Phasing in the Superannuation Guarantee increase over several years will ensure there is a minimal impact on workers’ take-home pay. It also means that unions will still need to play an important role in bargaining to lift the superannuation contributions up to our long-term goal of 15%.”