Carbon Polluters, Coal Miners Pay in Australian Tax Overhaul
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Australia is charging its largest polluters for carbon emissions and taxing profits of iron ore and coal producers starting today in the biggest change since 2000 in how the government collects and spends money.
The country will assess almost 300 of its largest polluters a fixed price of A$23 ($23.55) a metric ton for their greenhouse gases. Mining companies including BHP Billiton Ltd., Rio Tinto Ltd. and Fortescue Metals Group Ltd. face a separate levy on 30 percent of earnings from iron ore and coal starting today.