Australia's resources sector is preparing to be slugged in next month's federal budget, amid fears an
increased tax hike could hinder the sector's recovery.
Queensland Resources Council chief executive Michael Roche told a tax conference in Brisbane on
Monday that miners hit by royalty rises in Queensland and Western Australia in recent years feared the
worst about the May budget, saying there appeared to be a "desperate rush for cash".
"Somewhere between thin capitalisation rules, accelerated depreciation, exploration deductibility and fuel tax credits a pocket is waiting to be picked," Mr Roche told the Minerals Council tax conference.