Australia mine tax revenue $60bn less than planned

Initialement, un projet loi a été proposé par l’ancien ministre  Kevin Rudd pour augmenter les redevances minières en Australie.

Évidemment, les compagnies minières n’ont pas apprécié et ont fait une campagne contre ce projet, le ministre a été renversé par la nouvelle ministre Gillard qui a fait un compromis avec les compagnies minières.

Il semble que ce compromis crée un manque à gagner de 60 billions en dix ans à l'État, surtout il est difficile à le justifier quand BHP BILLITON font des profits-records.

Peut -importe dans le monde, il y a toujours des groupes d'intérêts qui vont influencer les politiciens, il faut juste mieux les encadrés.


Data released by Treasury has also revealed that last year's compromise between the Gillard government and the mining companies on the original Henry super profits tax proposal cost taxpayers $60 billion in lost revenue.

The government also faces a lingering stoush with the mining states over who is responsible for future increases in state-based royalty schemes..


Extrait de: Australia mine tax revenue $60bn less than planned, By: Reuters, 16th February 2011

SYDNEY - Australian Prime Minister Julia Gillard ruled out any major changes to a new mining tax on Wednesday after reports her compromise with big miners will see the tax collect up to A$60-billion ($60-billion) less than originally planned over 10 years.

Mining Tax

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·    Tax renamed the Minerals Resources Rent Tax

·    Will only apply to iron ore and coal

·    Iron ore and coal will now be subject to a new tax at a rate of 30pc instead of the original 40pc

·    Tax will kick in at the government bond rate plus 7 per cent, which would be around 12 per cent

·    Oil and coal seam gas to be rolled into the existing Petroleum Resources Rent Tax and taxed at 40pc

·    Changes mean the Government loses $1.5 billion of expected revenue

 

Treasury figures show the original tax would have raised A$99 billion between 2012/13 and 2020/21, but the revised tax would earn A$38,5-billion, the Sydney Morning Herald and Financial Review newspapers said, quoting treasury documents.

The Australian Greens, who want the mining industry to pay higher taxes, said the figures proved the government should scrap its compromise proposal and restore the original tax plan, although Gillard was quick to reject the suggestion.

"We will deliver, through the Australian parliament, the tax as I agreed it with Australia's biggest mining companies. We will not be compromising that agreement in order to secure the legislation through," Gillard told reporters in New Zealand.

Former Prime Minister Kevin Rudd proposed the tax last year but the government watered down the tax after Gillard took over from Rudd and then reached a complex deal with big mining companies BHP Billiton, Rio Tinto and Xstrata .

The original tax was heavily opposed by mining companies and the mining industry spent millions of dollars on a public relations campaign which in part led to Rudd's fall.

Laws for the new tax are due in May, and the government will need support from the Greens to pass the legislation through the upper house Senate, where the Greens will hold the balance of power after July 1.

Australia plans to return its budget to surplus in 2012/13 and Treasurer Wayne Swan has repeatedly said that a shortfall in the mining tax revenue would not threaten the budget targets as spending would be cut in line with the revenue loss.

Swan told reporters in Brisbane that the lower revenue figures should not be a surprise, but said revenue from the new profits-based tax would remain strong.