The billionaires and their corporate courtiers had a sneer and snigger fest when BHP Billiton, Xstrata and Rio Tinto informed the Tax Office they would pay zero mining tax for the first quarter of this financial year.
The federal Labor government's mid-year budget update downgraded the tax's forecast revenue from $13.4 billion over four years to $9.1 billion. But these mining giants told the media it was not clear how much, if anything, they would pay over the rest of the financial year.
What a sorry end to the mining super-tax profits saga.