The National Forum   Donate   Your Account   On Line Opinion   Forum   Blogs   Polling   About   
The Forum - On Line Opinion's article discussion area



Syndicate
RSS/XML


RSS 2.0

Main Articles General

Sign In      Register

The Forum > General Discussion > Shell expects to pay Australia no resource tax on gas drawn from Gorgon project

Shell expects to pay Australia no resource tax on gas drawn from Gorgon project

  1. Pages:
  2. 1
  3. Page 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. All
Dear Hassie,

I wouldn't describe mhaze as a "raving Left."

Still I guess anything is possible.
Posted by Foxy, Monday, 12 April 2021 2:11:13 PM
Find out more about this user Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
Another ill-informed gotcha. All of these companies would be paying tax as it is impossible to avoid GST, payroll tax etc, so there is your first problem.

The article Steele cites is referring to the Resource Rental Tax, which is only charged to offshore oil and gas companies. It essentially charges profits, rather than taking a percentage of turnover, or just a flat rate per unit of product. The ALP wanted to apply this to all mining and oil and gas companies. Lucky they didn't because it is essentially a profit share between the companies and the government. No profit, no RRT. It's a design feature. In this case it is leading to no government income, perhaps for ever. However, the normal royalties regimes collect in bad time and good. Thanks Steele for drawing our attention to what a bad idea this form of mining tax is.

Foxy's article refers to company tax. Again, this is levied on profits. Presumably none of these companies were making profits for the period: highly likely as oil prices plunged so low that for a while they were negative. I checked one of the companies - Santos. No tax last year, but the year before it paid at the rate of 33.8% and paid tax at similar rates every year before that to 2011 when my records stopped.

When media run these types of stories they are almost invariably dishonest. They know what the real situation is, but they want to feed the prejudices of their left wing readers. This is the sort of journalism got Emma Alberici disciplined by the ABC.
Posted by GrahamY, Monday, 12 April 2021 2:15:57 PM
Find out more about this user Visit this user's webpage Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
Here is an investigation into the Petroleum Resource
Rent Tax and debit loading in Australia for 2012 - 2016,
published in 2017 which may be of interest:

http://www.apo.org.au/sites/default/files/resource-files/2017-04/apo-nid76166.pdf
Posted by Foxy, Monday, 12 April 2021 2:55:11 PM
Find out more about this user Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
Thanks Foxy. You can't blame companies for abiding by the rules that are set for them. I'm not arguing that the resource rental tax is a good idea - quite the opposite. And I've been consistent on that over maybe 10 years.
Posted by GrahamY, Monday, 12 April 2021 4:46:19 PM
Find out more about this user Visit this user's webpage Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
"When media run these types of stories they are almost invariably dishonest".

And the anti-business Leftists parrot it because dishonesty is also their weapon.
Posted by ttbn, Monday, 12 April 2021 4:58:19 PM
Find out more about this user Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
Glad to hear that Graham.
Posted by Foxy, Monday, 12 April 2021 5:21:59 PM
Find out more about this user Recommend this comment for deletion Return to top of page Return to Forum Main Page Copy comment URL to clipboard
  1. Pages:
  2. 1
  3. Page 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. All

About Us :: Search :: Discuss :: Feedback :: Legals :: Privacy