ME home
 
  SME FaceBook SME Twitter SME LinkedIn RSS Feed

Subscriber or
SME Member Log On

WEB-ONLY CONTENT

Go to SME eNEWS

MINING INDUSTRY EVENTS

Al Azhar‚Äôs 14th International Conference on: Engin  - Conference
Dec 12, 2017 - Dec 14, 2017
WM2E 2017 Energy Tech Expo  - Exhibit
Dec 14, 2017 - Dec 16, 2017
George Fox Conference  - Conference
Jan 24, 2018
2018 SME Annual Conference & Expo  - Conference
Feb 25, 2018 - Feb 28, 2018

METAL PRICES


Au
Ag
Pt
Pd
Ni
Cu
Al
Pb

AGGREGATES
AND MINERALS
MARKETPLACE


http://aggregatesmineralsmarketplace.com
The Mining Engineering, SME and NSSGA
Online Buyers Directory Site
The Online Global Mining and Minerals Library Site

Mining tax figures kept from Australia's ministers
January 15, 2013

Australia’s already diverse mining tax landed in the news again when federal ministers in Australia were forbidden from seeing the latest revenue figures for Labor’s mining tax.

The government's lawyers warned that if the minister were to look at the numbers it would breach the law and subject them to jail terms, The Australian reported.

The advice came as the Coalition demanded the disclosure of the mining tax results in the midst of a renewed political fight over whether the policy could deliver the $2 billion claimed for it this financial year.

In a report, The Australian revealed that big miners did not expect to pay any of the minerals resource rent tax for the December quarter. This would mean the tax has raised no revenue in its first six months.

A spokesman for Acting Treasurer David Bradbury said the Coalition wanted the government to break the law by releasing the figures.

A Treasury minute tells ministers that they cannot see the quarterly Mining Resource Rent Tax (MRRT) figures because the Australian Taxation Office advised that this would breach federal law.

“The ATO’s current view is that disclosure of these data would breach the secrecy provisions of the Taxation Administration Act 1953 as taxpayer information may be ascertained by a process of deduction,” says a copy of the minute, The Australian reported.

"This is a matter for the ATO to independently determine and is not a decision of any department or minister."

While the MRRT applies to all miners producing iron ore and coal, most of its revenue is expected to come from just three companies: BHP Billiton, Rio Tinto and Xstrata.

Treasury said in the minute that the Australian Government Solicitor had backed the ATO advice and said the revenue information was protected.
.

 

Related article search: