Australia's New Tax Plan Misses the Mark

Mining companies shouldn't be let off the hook.

Time to tax the miners.

Photographer: Daniel Kalisz/Getty Images

Prime Minister Tony Abbott has found a new way to plug Australia's budget hole: targeting multinationals. A so-called anti-avoidance law, which his government rolled out in its latest budget, aims to stop multinational corporations from diverting the profits they earn in Australia to low-tax jurisdictions.

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