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Minerals Council of Australia NT Division : Minerals Council Aust NT Div 2012
4 Minerals Council of Australia The tax agenda impacted the industry on two fronts - the Carbon Tax and Minerals Resource Rent Tax. While the latter is yet to be finalized, the Commonwealth passed the Clean Energy Future Legislation which comes into effect in July 2012. The Minerals Council of Australia has vigorously opposed the legislation given that it will; reduce growth in employment, real wages and productivity; harm the competitiveness of Australia's most efficient export and import competing industries; and produce no environmental dividend. In the global economy the need for a tax that places our industries at an international disadvantage and has negligible environmental benefits, is fundamentally flawed. As is the case with poor policy, the industry will continue to oppose poor legislation. While Europe, the United States and various other trading partners continue to suffer economic woes and are moving away from climate policy action, the Government has implemented a tax that penalises the Australian minerals industry in terms of international trade competitiveness. In addition, to the implementing the world's biggest carbon tax (the scheme will generate carbon tax revenue of around $A391 per Australian in its first year compared with tax revenue generated by the European Union's emissions trading scheme of just $A1.53 per annum since its commencement in 2005), business and industry will also be impacted by reductions in the fuel tax credits scheme for diesel fuel, petrol, Liquefied Petroleum Gas, Liquefied Natural Gas and Compressed Natural Gas by around six cents per litre in the first year, escalating annually. Despite statements that the tax would only affect Australia's 500 biggest polluters, approximately 1,500 Northern Territory businesses are expected to be impacted by the Carbon Tax when it commences in July 2012. Despite assurances of household compensation, the impact on small to medium businesses will see costs passed on to consumers, with flow-on inflationary pressures compounded by increased electricity costs given the Territory's significant dependency on diesel-fired power. During 2011 the Northern Territory Government introduced changes to various mining and mineral titles legislation designed to align the Territory with other jurisdictions. The MCA NT Division has been working with Government to ensure our members' interests and views are well represented. At the time of writing, MCA NT Division is continuing to voice our members' views on several pieces of legislation, including the Native Vegetation Executive Director’s Report Peter Stewart Executive Director Minerals Council of Australia - NT Division Following the events of 2010 it was expected that 2011 would provide twelve months to consolidate the issues the industry had confronted and addressed the year earlier. However, these views proved to be unfounded and 2011 was a very eventful year for the minerals industry in the Northern Territory and Australia.
Minerals Council NT 2013