Australian mining regulations and taxation

• Autores: Industrial Minerals
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 550, 2013
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • As Australia's government seeks to maximise revenues from the resource sector without damaging its competitiveness, Vasili Nicoletopoulos* considers whether the country's legal and tax frameworks will help or hinder the mining industry's future development.

    The MRRT is based on a nominal tax rate of 30%, minus an'extraction allowance' of 25%, resulting in an effective rate of 22.5%. The effective MRRT rate is levied on mining profits, less any specified allowances.

    There are seven MRRT allowances available. These can be claimed on royalties; transferred royalties; pre-mining losses; mining losses; starting base; transferred pre-mining loss; and transferred mining loss.