Australia defends mining tax after 'zero earnings’

Australian Treasurer Wayne Swan defended the government’s mining profits tax Thursday after reports that no revenue had collected in the first quarter due to China-driven cooling in the sector.

The conservative opposition seized on claims in The Australian newspaper that the tax on so-called “super profits” had reaped nothing in the first three months of the financial year to June 30, 2013 as proof it was a botched policy.

via Business feed http://www.scmp.com/business/economy/article/1069317/australia-defends-mining-tax-after-zero-earnings