{"id":1183821,"date":"2020-05-12T08:10:25","date_gmt":"2020-05-12T13:10:25","guid":{"rendered":"https:\/\/www.mining.com\/?p=1023552"},"modified":"2020-05-12T08:10:25","modified_gmt":"2020-05-12T13:10:25","slug":"australian-mining-sector-makes-record-tax-royalty-payments-report","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1183821","title":{"rendered":"Australian mining sector makes record tax, royalty payments \u2013 report"},"content":{"rendered":"<p>Company taxes and royalties paid by Australia\u2019s minerals sector increased by $8 billion in 2018-19 to a record $39.3 billion, a new Deloitte Access Economics report commissioned by the Minerals Council of Australia revealed.<\/p>\n<div class='ad-slot' id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {    googletag.display('div-gpt-ad-1561499308230-0');    googletag.pubads().addEventListener('slotRenderEnded', function (event) {        if (event.isEmpty) {            var id = event.slot.getSlotElementId();            var x = document.getElementById(id);            if(x == null) return;            if (x.parentElement.classList.contains('ad-slot')) {                x.parentElement.style.display = 'none';            }\t\t\t\t        }    });});<\/script><\/div>\n<p>According to the report, in the period analyzed, the minerals sector did the heavy lifting on company tax collections, contributing close to 30% of all company tax.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/Australian-mining-sector-makes-record-tax-royalty-payments-report--1024x148.png\" alt=\"\" class=\"wp-image-1023555\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/Australian-mining-sector-makes-record-tax-royalty-payments-report--1024x148.png 1024w, https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/Australian-mining-sector-makes-record-tax-royalty-payments-report--300x43.png 300w, https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/Australian-mining-sector-makes-record-tax-royalty-payments-report--768x111.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption><em>(Table from Deloitte Access Economics report).<\/em><\/figcaption><\/figure>\n<p>\u201cWhen combined with royalties, these contributions support stronger communities by helping to fund hospitals, schools, doctors, nurses, police, teachers and other essential services and infrastructure,\u201d Tania Constable, the Council\u2019s CEO, said in a media statement.<\/p>\n<p>The study reveals that over the last 11 financial years, the minerals industry paid $230 billion in royalties and company tax \u2013 enough to build 8850 schools or 320 hospitals.<\/p>\n<p>\u201cHigh and consistent payments across the commodity cycle show that the minerals sector is a reliable and significant tax and royalty contributor,\u201d Constable said.<\/p>\n<p>The report follows the recent release of the Productivity Commission\u2019s Trade and Assistance Review 2018-19 which stated that tariff and budgetary assistance to mining are \u2018disproportionately small\u2019, with the effective rate of assistance for mining \u2013 the ratio of total assistance to output \u2013 just 0.2% in 2018-19, the same low rate as the last three years.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company taxes and royalties paid by Australia&rsquo;s minerals sector increased by $8 billion in 2018-19 to a record $39.3 billion.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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