mining tax tagged posts

Mining Taxes Under Review

November 1, 2012 New Zealand Taxation

Mining Tax
Mining companies could soon be paying ore tax in New Zealand, following a new review by the government.

On October 31st the New Zealand government issued Reviewing the Royalties Regime for Minerals and Taxation of Specified Mineral Mining, two public consultation papers on the taxation of companies engaged in mining of minerals in New Zealand.

According to the Minister of Energy and Resources Phil Heatley, who announced the release, both papers are aimed at enhancing “…economic efficiency by ensuring that scarce resources are directed to economic activities that provide the highest returns before the imposition of tax and royalties.”

The review of the royalties paid by mining businesses suggest that a higher rate should be paid by operators, but the raised rate should only be applied to ne...

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NZ Should Not Focus on Oil

September 19, 2012 New Zealand Taxation

Your Friend the Offshore Oil RigThe Green Party is voicing its opposition to the oil industry in New Zealand, saying that the government does not take enough taxes from to justify the environmental risks associated with gas extraction.

One day prior to the New Zealand Petroleum Summit 2012 on September 19th the Green Party of New Zealand published a new press release to decry the government’s strategy of facilitating large-scale oil and gas extraction operations in New Zealand.

The Green Party explained its opposition to oil and gas extraction, saying that “…we [New Zealand] receive hardly any royalties, hardly any taxes, and hardly any jobs for the considerable environmental risk posed by oil and gas exploration promoted by the National Government.”

In the newly published press release the Green Party also objected to t...

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Tax Funded Educations Debated in Australia

December 31, 2010 International FinanceInternational Taxation

Bond UniversityThe Green Party of Australia has spurned new debate in Australia after proposing that Australians be able to receive free tertiary educations.

On December 30th the Australian Green Party outlined its agenda for 2011, which included a proposal to establish a system which would use the profits arising from mining taxes to fund free tertiary education for all Australians.

The Green Party believes that introducing a system of tertiary education would cost approximately AUD 2.5 billion. The funding would be sourced entirely from the upcoming Mineral Resource Rent Tax (MRRT), which could come into effect as early as July 2012...

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