SR,

This is from someone that supports the ultimate Labor vanity project in the car industry that at the end was subsidising 100% of workers wages to still make a loss.

A 5 yr royalty tax break on the small production when a mine is starting up is not a subsidy the government is still getting revenue from PAYE, GST, etc.

Forrest is still paying $bns in royalties, GST, Paye etc. That the $bns he has spent on infrastructure can be written off against company tax is standard tax policy world wide.

Shadow, forever the apologists for the multinational tax avoiders. Are you on their payroll or something?

Dear Shadow Minister,

Paye tax? It wasn't paid by Twiggy mate, rather his company collected it from the workers employed there and paid it to the tax department. It is the worker's tax contribution not his.

The royalty bill is 7.5% to the state government so less than $500,000 PA.

SR,

I don't know where you dig up your BS.

Fortescue paid $545m in royalties in 2017 (perhaps you just left out 000) and "income" tax of $847m.

https://www.fmgl.com.au/docs/default-source/default-document-library/fy2017-annual-report.pdf

The royalty tax system is aimed at 10% of the mine head value of a product.

Anyway, to get back to topic, Zali Steggall and her passion for the environment: in support of her cause, an on-line petition to build wind towers in Wahroonga has gathered more than twenty thousand signatures.

Next, a petition for solar arrays to replace all that unnecessary parkland in Wahroonga ? We have to act before it is too late to save the environment and reduce global warming ? [Can I still use that term ? ] How to otherwise prevent runaway sea-level rise at Manly and drastic temperature rise across Wahroonga ?

We're in a crisis ! Act now ! Renewable energy for Wahroonga !

Joe

Dear Shadow Minister,

You write;

"Fortescue paid $545m in royalties in 2017 (perhaps you just left out 000) and "income" tax of $847m."

Come on mate, the 2018 report is easy enough to find. In it you will see the royalty fee of $416 million dollars. But that isn't the whole story is it. To get the true figure we need to take off what it has cost both governments in terms of subsidies, foregone taxes, cost to the environment etc. The absolute return to government coffers is less than $500,000.
http://www.fmgl.com.au/docs/default-source/annual-reporting-suite/fy18-annual-report.pdf