Tax Cuts

[facthunter]

You keep "flogging that" which appears mainly in  SKY and the usual sources like  Merdey leaks and the liberal party site.  It's UP TO and over what period I have no idea.

 How does Labor get the truth out ? You won't get it in the MSM . Their latest include the idea. the engagement has a political intent.. and Barnaboys hard done by.  The usual BS revved up on cue. Nev

[pmccarthy]

Ernst & Young was engaged by the Minerals Council of Australia to provide a report calculating the royalty and company tax payments for the minerals sector in 2020-21. Royalties were $16.7 billion in 2020-21, while net company taxes were expected to reach $26.5 billion in the same year. In total, mining company tax payments plus royalty payments were estimated at $43.2 billion in 2020-21, a 26.5 per cent increase from the $34.2 billion recorded in 2018-19. 

 

Likely to fall this year and beyond due to fall in price of green energy minerals including nickel and lithium, with closure of mines and smelters.

[onetrack]

In the meantimes, just BHP and Rio Tinto alone have been recording company profits averaging over $20B annually between them for the last 10 years - despite every shady tax-dodging manoeuvre known to man, all designed to reduce profit to zero. And that's just two iron ore miners.

[facthunter]

It's" ONLY DIRT" till WE dig it up THEY SAY. Another MIRACLE. You only sell it ONCE. WHEN prices fall they sell MORE. That's not the best use of resources that are finite and superior quality to what will be mined Later.   Nev

[onetrack]

The worrying part is when the Northern W.A. iron ore deposits were assessed by American geologists in the late 1950's, they estimated there was enough iron ore there to supply the entire world for 300 years.

But they never took into account the massive industrialisation of China in the last 30 years - nor the massive increase in the rate of mining the ore.

 

In the 1960's, BHP and Rio Tinto were mining a few hundred thousand tonnes of iron ore annually. Fast forward to the 2020's and they mine hundreds of thousands of tonnes of iron ore a MONTH.

Only a little while ago Rio Tinto remarked, that it could see the end of iron ore mining in the North of W.A. within 30 years, as all the available ore bodies became worked out by then.

[red750]

4 hours ago, facthunter said:

You keep "flogging that"

I saw a video of a news conference. The Minister representing the Treasurer, Senator Katy Gallagher said “...the decision of government is to agree to a campaign of up to $40 million over two financial years in relation to the tax campaign.” It must be true - I saw her lips moving. 

[red750]

4 hours ago, facthunter said:

Their latest include the idea. the engagement has a political intent.

The tax cuts are due to start on July 1. The next election has to be before 27 September 2025. "The decision of government is to agree to a campaign of up to $40 million over two financial years in relation to the tax campaign.” What other inference can you draw?

[Jerry_Atrick]

A quick Google search found references only to the Murdoch media. That does not mean it is not "true", but Murdoch media does have a habit of taking things out of context for both Labor and LNP - favourably for the latter and unfavourably for the former. An example was posted in the media thread, and I will repost here for clarity.

 

However, ironically, I did find an article in which the ALP, in oppositon, called the then LNP's $40m spending (coincidentally) on industrial relations advertising as shameful.. If the ALP preparing to spend $40m on advertising is true, then it is a bit of pot calling kettle black, and of course, the Murdoch media and the LNP criticising Labor is also pot calling kettle black: https://www.smh.com.au/national/govts-40m-ir-ads-shameless-says-labor-20051021-gdmame.html

 

Although, given the disproportionate bias shown by the MSM to the LNP, it is hardly surprising (if it is true).

 

For reference, here is one of the examples on how the Murdoch press take things out of context for the ALP:

 

When this $40M spend by the ALP is reported more widely that the Murdoch (and other anto-Labor institutions), I'll pay it more attention.

[facthunter]

Red the bit you quote is about Albanese getting ENGAGED  TO MARRY his longtime girlfriend..   Nev