The proposal has 2 components that would tax the net wealth of Australian residents and non-residents.

For Component 1 and 2, net wealth would be calculated as follows.

This proposal would introduce a new super-profits tax at a rate of 40% that would apply to company profits that exceed an allowance for a corporate equity threshold with effect from 1 July 2022.

Only post-company tax Australian-sourced profits would be subject to the super-profits tax and the allowance for corporate equity threshold would equal shareholder equity multiplied by 5% plus the long-term bond rate.

This proposal would introduce a new super-profits tax at a rate of 40% that would apply to company profits that exceed an allowance for a corporate equity threshold with effect from 1 July 2022.

Only post-company tax Australian-sourced profits would be subject to the super-profits tax and the allowance for corporate equity threshold would equal shareholder equity multiplied by 5% plus the long-term bond rate.

This proposal would introduce a new super-profits tax at a rate of 40% that would apply to company profits that exceed an allowance for a corporate equity threshold with effect from 1 July 2022.

Only post-company tax Australian-sourced profits would be subject to the super-profits tax and the allowance for corporate equity threshold would equal shareholder equity multiplied by 5% plus the long-term bond rate.

This proposal would introduce a new 40% Mining Super Profits Tax (MSPT) on the super profits of individual Australian mining projects, where the super profits would be calculated at the project level as revenue less expenses.

This proposal would introduce a new 40% Mining Super Profits Tax (MSPT) on the super profits of individual Australian mining projects, where the super profits would be calculated at the project level as revenue less expenses.

This proposal would introduce a new 40% Mining Super Profits Tax (MSPT) on the super profits of individual Australian mining projects, where the super profits would be calculated at the project level as revenue less expenses.

This proposal would introduce a new 40% Mining Super Profits Tax (MSPT) on the super profits of individual Australian mining projects, where the super profits would be calculated at the project level as revenue less expenses.

This proposal would introduce a new 40% Mining Super Profits Tax (MSPT) on the super profits of individual Australian mining projects, where the super profits would be calculated at the project level as revenue less expenses.

This proposal would introduce a new 40% Mining Super Profits Tax (MSPT) on the super profits of individual Australian mining projects, where the super profits would be calculated at the project level as revenue less expenses.