Royal Australian Navy Discussions and Updates 2.0

[Wombat000]

Its not like a mining super profits tax could have been usedcto create a soveriegn wealth fund

As an aside (not too much I hope), I am mightily confused as to why we tax our resource exports so poorly?
Dunno what the motivation is/was?
Who decided it?
Wonder what it would take to correct it?

Also, it’s nice to have our fuel predicament get more attention, and if we wish to have influence on our SLOC, the rationale for AUKUS.

 

[hauritz]

As an aside (not too much I hope), I am mightily confused as to why we tax our resource exports so poorly?
Dunno what the motivation is/was?
Who decided it?
Wonder what it would take to correct it?

Also, it’s nice to have our fuel predicament get more attention, and if we wish to have influence on our SLOC, the rationale for AUKUS.

Gina Rinehart is a big advocate for boosting defence spending to 5%. I am sure she will have no issues with increasing resource taxes.

Rinehart calls for defence spending boost to 5pc of GDP

Australia’s richest person, Gina Rinehart, has called for the federal government to increase defence spending to 5 per cent of GDP and invest in an Israeli-style missile defence shield to protect the continent.

www.ginarinehart.com.au

 

[iambuzzard]

Its almost like we needed more than three ships to replace nine.

It really is too bad we didnt have something like a mining construction boom at the time we needed to build these ships to pay for builing more of them.

Its not like a mining super profits tax could have been usedcto create a soveriegn wealth fund that could have beeb used to build the required infrastructure, train and retain the workforce and pay enough to recruit and retain crews.

Its not like being smarter twenty five years ago would have made any difference today.

I remember a past treasurer created a future fund. That was raided pretty quickly by his successor.

 

[old faithful]

As an aside (not too much I hope), I am mightily confused as to why we tax our resource exports so poorly?
Dunno what the motivation is/was?
Who decided it?
Wonder what it would take to correct it?

Also, it’s nice to have our fuel predicament get more attention, and if we wish to have influence on our SLOC, the rationale for AUKUS.

one factor could be the royalty system in place for traditional owners, mining companies negotiate with the TOs , its a significant amount in some cases, I know of one NT community that is paid $17000 per man woman and child per month. Now that's how the figure is worked out, that sum then goes into a trust fund, and is distributed by the elders how they see fit. The same community has "lost $34million" one elder was sent to prison for roughly $500K of it, but the rest is unaccounted for. Its well documented, easy to google. Now the mining company is not going to be happy paying a mining tax and royalties are they? So if a mining tax was set at XXX% , then the government would then need to pay the royalties, not the company, because they are not going to pay both.