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Senate pushes tax office to reveal mining tax revenue

Updated

A top federal regulator is trying to push for more transparency about mining tax revenues and the role government played in crafting the tax.

Key points: Commissioner M실시간카지노ichael Meacher is demanding transparency on mining우리 카지노 tax receipts

Tax office claims mining taxes are not used in Queensland economy but has received millions of dollars in revenue from mining in Queensland

State and federal governments also receive funding from mining, the commission claims

A commission hearing in Townsville has been told Commissioner Michael Meacher will seek to force the Federal Government to reveal the nature of its mining tax revenue.

Commissioner Meacher has been investigating the mining tax for nearly two years but has so far been unable to gain access to the Federal Government.

The issue of whether mining tax revenues actually fund Queensland’s economy — or whether they are spent on other projects that benefit the State of Queensland — is an issue for which no specific legislation exists, and is often hotly disputed by both the Government and Opposition.

Commissioner Meacher is now seeking to force the Finance Department and the National Tax Office to release the full extent of mining tax revenue it receives from mining in Queensland.

According to the Government, the State pays more than $2 billion in the mining tax each year, meaning it does not fund everything that was claimed for Queensland’s budget.

But that figure includes money spent on other Commonwealth projects and there is strong evidence that mining has played a role in Queensland’s economic success over time.

Mr Meacher wants to know how much money is actually spent on mining projectsSM 카지노 in Queensland, the type of projects and how much is actually spent in mining tax revenue.

«I’m asking all major ministries to release the amount of money they’ve received, which might not be accurate,» Mr Meacher told 7.30.

The Queensland Government claims $3.7 billion of mining tax revenue has gone on major infrastructure and the state has made an estimated $20 million from royalties to developers in the past six years.

Topics: mining-industry, states-and-territories, mining-environmental-issues, townsville-4810

First posted