Firstly, coal companies pay the same federal profit-based corporate tax that every other company pays, at the same rate.
Secondly, every coal miner must pay “Coal Royalties” to state governments who own the mineral resources. Coal royalties are payable even if the mine makes a loss. All mining companies pay royalties.
Thirdly, if the current federal proposals become law, coal, iron and gas companies will pay an additional profit-based “resource rent tax” to the Federal Government.
Yet global warming alarmists are calling for still more carbon taxes.
If you tax something you will get less of it.
How many carbon taxes do we need before we achieve Bob Brown’s green dream of zero coal mining: “We can do without coal and we can do without gas”?
And with all these taxes restricting the growth of our biggest resource industries why is the government promising to spend tax money on transport infrastructure? Coal is the greatest user of transport infrastructure in eastern Australia and much coal revenue is diverted to coal royalties and rail and port charges.
With three taxes already curbing the growth of the coal industry, and Greens demanding more carbon taxes, it is no wonder that the Premier of Queensland wants to sell the state rail and port facilities.
Viv Forbes, Chairman, The Carbon Sense Coalition, has spent his life working in exploration, mining, farming, infrastructure, financial analysis and political commentary. He has worked for government departments, private companies and now works as a private contractor and farmer.
Viv has also been a guest writer for the Asian Wall Street Journal, Business Queensland and mining newspapers. He was awarded the “Australian Adam Smith Award for Services to the Free Society” in 1988, and has written widely on political, technical and economic subjects.
